Customer Data Firm Klaviyo Raises $200m Expansion Fund

Boston, US-based customer data targeting platform Klaviyo has raised $200m in a Series C round of funding, which it will use to drive product development, double headcount, and for customer support 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, applying AI and machine learning algorithms to pull in customer data to generate audience insights.

New funding has been led by Accel, with participation from existing investor Summit Partners, bringing Klaviyo's total funding to date to $358.5m. Michael Medici, Klaviyo Board member and MD of Summit Partners, comments: 'Klaviyo continues to attract talented members to its growing team, and Summit's second investment represents our continued confidence in this team and their mission: to change the playing field in commerce and offer brands of all sizes a release from the expensive confines of big tech control over ads and marketplace sales - and the chance to own their growth'.

The firm, which is led by CEO and co-founder Andrew Bialecki (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.