Clio has achieved the fabled Centaur status.
The Burnaby-based provider of cloud-based legal technology is Canada’s first legal technology company to wear the crown, and one of only 150 companies globally.
In the startup world, a Unicorn is a company with a valuation north of $1 billion—a status Clio earned just last year. To become a Centaur, a private SaaS company must achieve more than $100 million in annual recurring revenue.
“Our centaur designation is just one lens to measure our success in the market, but in the context of today’s tech economy it signals much more,” said Jack Newton, CEO of Clio. “We’re incredibly proud of this accomplishment, which is one more important milestone in Clio’s growth story.”
A pioneer in the cloud and legal-tech spaces, the BC company has been consistent in many aspects since inception, which lends to its positive reputation.
“Our customers prioritize stability and sustainability in their technology partners,” the founder Newton explained. “With a wave of market volatility and consolidation happening in this industry, Clio is the steady exception our customers can count on through it all.”
Newton believes his company is just getting warmed up, however.
“Achieving centaur status is a testament to what our customers already know best: Clio builds for long-term success,” added Newton. “Building an enduring, 100-year company takes financial discipline, an unwavering focus on the success of our customers, and the durability to withstand swift changes in the market.”