Klaviyo was founded in 2012 by Andrew Bialecki and Ed Hallen. In 2021, CEO Bialecki told Forbes that he is in no rush to take the company public, saying that he is willing to wait years for an IPO. These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Klaviyo is a customer engagement platform that collects data and uses it to craft personalized email and SMS marketing messages. The data that Klaviyo collects stays internal, eliminating concerns about third-party data access. As e-commerce adoption continued to expand rapidly throughout 2020, the company doubled its customer base across its free and subscription-based service options. Klaviyo has raised $675 million in venture capital funding from Sands Capital, Owl Rock Capital, Morgan Stanley, Lone Pine Capital, Accel, and Summit Partners. A $320 million Series D round doubled the company's valuation to $9.5 billion.