Stripe Adds Online Legal Services Firm Clerky to Its Fold

Payments company Stripe has acquired online legal services firm Clerky, according to the company's announcement. Clerky, which has been providing startups and their lawyers with automated legal paperwork tools since its launch over a decade ago, is now part of Stripe. The deal was announced last week, though the specific terms have not been disclosed.

Clerky's co-founders observed that clients were paying high prices for legal services, only to need revisions due to errors. This prompted the creation of Clerky, which aimed to provide top startups with top-notch legal services at a more affordable rate. Today, Clerky is the most widely used online legal service for startups, accounting for 23% of all Silicon Valley seed/pre-seed financings and raising over $140 billion in venture capital in aggregate.

In recent months, Clerky has seen a surge in startup formations, growing six and a half times faster than its historical average. The company shared this news on its blog, highlighting the similarities between its culture, beliefs, and mission to help the startup ecosystem and Stripe's own values. Stripe's acquisition of Clerky demonstrates the company's commitment to enhancing its support for startups in various aspects of their operations.

Additionally, Stripe recently made headlines with its plans to acquire AI-focused platform OpenRouter. The acquisition may have come at a premium, though the final terms have not been disclosed. OpenRouter is valued at $1.3 billion, despite reports suggesting Stripe might have paid over its valuation. The acquisition of OpenRouter is seen as a strategic move to provide developers with a single gateway to hundreds of AI models, addressing the financial management challenges that are beginning to impact CFOs.