Klaviyo Raises $320M in Series D Funding Round
Klaviyo, a Boston-based marketing automation platform, has just announced a whopping $320 million in series D funding. The funding round was led by new investors Asana and Thrive Capital, alongside existing investors Accel and Summit Partners. The company plans to use the funds to focus on product innovation and building out its go-to-market team.
Klaviyo was founded in 2012 by Andrew Bialecki and Ed Hallen, and has since become a leader in email marketing automation for e-commerce businesses. The platform allows businesses to target and personalize their email and advertising campaigns based on customer behavior and data. With an easy-to-use interface and robust automation features, Klaviyo has helped over 70,000 businesses grow their customer base and increase revenue.
The latest funding round brings Klaviyo’s total funding to date to $675 million, making it one of the most well-funded marketing automation platforms on the market. This new capital will be instrumental in Klaviyo’s continued growth and expansion.
The company plans to invest heavily in product innovation, with a focus on building out its artificial intelligence and machine learning capabilities. This will enable businesses to target their customers with even greater accuracy and precision, resulting in higher engagement and ROI.
In addition, Klaviyo plans to expand its go-to-market team, with a specific focus on building out its sales and marketing operations worldwide. This will enable the company to bring its platform to even more businesses and further solidify its position as a leader in the marketing automation space.
In a statement, Klaviyo CEO Andrew Bialecki said, “We’re thrilled to have such a strong group of investors join us on our journey. This new funding will enable us to continue to innovate and build out our platform, while also expanding our team to bring Klaviyo to even more businesses worldwide.”
In conclusion, Klaviyo’s $320 million series D funding round is a testament to the company’s success and potential for growth. With its focus on product innovation and expanding its global presence, Klaviyo is well-positioned to continue to lead the marketing automation industry and help businesses grow and succeed in the digital age.
FAQs:
1. What is Klaviyo?
Klaviyo is a marketing automation platform that allows businesses to target and personalize their email and advertising campaigns based on customer behavior and data.
2. What is the purpose of the series D funding round?
The purpose of the series D funding round is to fund product innovation and build out Klaviyo’s go-to-market team.
3. Who led the series D funding round?
The series D funding round was led by new investors Asana and Thrive Capital, alongside existing investors Accel and Summit Partners.
4. How much total funding has Klaviyo raised to date?
Klaviyo has raised a total of $675 million in funding to date.
5. What is Klaviyo’s focus for product innovation with this new funding?
Klaviyo’s focus for product innovation with this new funding is on building out its artificial intelligence and machine learning capabilities to enhance customer targeting and engagement.
