Artificial intelligence technologies are penetrating all sectors today, from medicine to customer support, but efficiency in coding remains a priority. Jack Newton, founder and CEO of the Canadian legal practice management software company Clio, is confident that legal tech will be the next big winner of the LLM era. This is reported by Techcrunch.com reports .
Clio reported a sharp increase in revenue after integrating AI into its products in 2023. The company surpassed $200 million in annual recurring revenue (ARR) in mid-2024 and recently announced that this figure has reached $500 million. Newton noted that the legal sector has a very rich database for LLM models, as law firms possess millions of contracts and documents.
This growth trend is not limited to Clio. Harvey, a company providing AI services for law firms, reached an ARR of $190 million by the end of 2025. Also, its main competitor, the Legora platform, hit the $100 million revenue milestone just 18 months after its launch.
These changes in the legal tech market have not gone unnoticed by Anthropic. Recently, Anthropic introduced a suite of features called Claude for Legal, specifically for the legal sector. This innovation is expected to mark a new stage in automating time-consuming processes such as analyzing and drafting legal documents.
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