Global News
Taking the next major step forward in transforming the practice of law, for good, Clio, the leader in cloud-based legal practice management, announced today the acquisition of Lexicata, the most popular legal client intake and client relationship management (CRM) solution on the market.
Clio has acquired Lexicata in a first step towards delivering a suite of products that’s focused on creating a more client-centered approach to managing the end-to-end experience of working with a law firm.Clio’s acquisition of Lexicata is a defining moment for the legal industry. As long-time integration partners, with more than half of Lexicata’s existing customer base already using Clio, the two companies have already been working together to meet the different needs of law firms. The acquisition marks the first step towards Clio’s vision to provide the first entirely client-centered and firm-focused product suite that will include practice management, CRM, and client intake. Under this vision, Lexicata will evolve into a more advanced client engagement platform called Clio Grow, launching early 2019.
“The founders of Lexicata and I have always shared a passion for creating transformative technologies that will move the industry of law forward,” said Jack Newton, CEO and Co-founder of Clio. “To that end, we are excited to welcome Lexicata into the Clio family as we build the next frontier of legal technology.”
“We’re excited to be a part of the Clio team,” said Michael Chasin, CEO of Lexicata. “Clio has always been the leader in practice management, while we’ve focused on client intake. We have long shared Clio’s core vision for improving the legal industry, as well as Clio’s innovation-embracing values. This is a tremendous natural progression of everything we’ve built so far.”
The decision to expand Clio’s suite of services was supported by the company’s ongoing research into understanding market needs, which is summarized in the 2018 Legal Trends Report, released today at the Clio Cloud Conference. In the 65-page report, the research shows that 57% of consumers have faced a legal problem they didn’t pursue with the help of the law. Additionally, of those who faced a legal issue in the past two years, 68% of consumers communicated with a lawyer they did not hire, and 58% had a formal consultation with a lawyer whom they didn’t hire.
“We dedicated this year’s Legal Trends Report to helping us better understand the client experience,” said Jack Newton. “The results show a major gap in what lawyers think their clients want and what clients actually want—and that a lack of ease in working with law firms contributes to major barriers in satisfaction. The result is that lawyers aren’t getting hired as much as they should be. The research put into the Legal Trends Report and our acquisition of Lexicata are just the first steps in our commitment to bridging the lawyer-client gap, and we have so much more planned for 2019.”
As client expectations evolve, lawyers need to deliver more exceptional client experiences. With Lexicata’s evolution into Clio Grow, firms will be able to collect important contact data which will sync with Clio’s existing practice management platform at a level of seamlessness yet to be seen between any legal software. With Clio Grow, firms will know where leads come from and what actions are required to convert them to clients. By streamlining the client acquisition process and measuring the ROI on firm marketing, Clio Grow will help firms increase their total business revenue.
The acquisition of Lexicata marks Clio’s shift to becoming a multi-product service provider that’s focused on creating a more client-centered approach to managing the end-to-end experience of working with a law firm. Clio’s ongoing vision sees technology playing a crucial role in helping lawyers to be hyper-focused on delivering the type of responsive, informed service that today’s clients already expect.
“We’ve set the course for Clio, and the acquisition of Lexicata indicates where we want to be as a company—and that’s in a place where we can help lawyers focus their firms on being more client-centered,” said Jack Newton.
Clio has more planned for the product, with further information to be available upon the official release. Until then, those interested in learning more about Clio’s future vision and the launch of Clio Grow are encouraged to read Jack’s open letter to valued customers.
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