Customer Data Firm Klaviyo Raises $320m

In the US, customer data and marketing automation platform Klaviyo has raised $320m in a Series D round of funding, bringing the company's valuation to more than $9 billion. The round will be used for product development, increased marketing and sales, recruitment and international expansion.

Through the Klaviyo platform, eCommerce brands can use transactional and behavioral data to personalize, analyze and optimize communications and ad campaigns. The software integrates with eCommerce platforms such as Shopify, Magento, BigCommerce, Stripe and WooCommerce.

New funding was led by new investor Sands Capital, with participation from other new investors including Counterpoint Global (Morgan Stanley), Whale Rock Capital Management, ClearBridge Investments, Lone Pine Capital, Owl Rock Capital, Glynn Capital, and Keith Block (former co-CEO of Salesforce), with participation from existing investors Accel and Summit Partners. Following the company's $200m Series C financing last November, the latest addition brings Klaviyo's total funding to date to more than $675m. Michael Clarke, MD at Sands Capital, comments: 'We are extremely excited to start a long-term partnership with the team at Klaviyo as they further grow their powerful, yet easy to use software platform that customers love'.

The firm, which is led by co-founder and CEO Andrew Białecki (pictured), is online at www.klaviyo.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.