Advertising and marketing automation platform Klaviyo raises $320 million at more than $9 billion valuation
1 min read(Reuters) – Klaviyo claimed on Tuesday it experienced elevated $320 million in its latest funding round, valuing the data and promoting automation platform at a lot more than $9 billion.
The Collection D round, which arrives months after the company’s $200 million Collection C funding, was led by investment decision team Sands Capital and provides the overall money raised so far to far more than $675 million, the Boston, Massachusetts-dependent organization mentioned.
Its other new traders contain Morgan Stanley’s expenditure arm Counterpoint World wide and previous Salesforce.com’s co-main government officer Keith Block, with participation from existing traders these types of as undertaking capital business Accel and Summit Companions, the company reported.
Established in 2012, Klaviyo delivers data analytics to on-line enterprises and has extra than 70,000 shelling out buyers.
The company claimed it designs to use the proceeds from the funding spherical for products improvement, elevated promoting as nicely as income and employing.
The COVID-19 pandemic has pressured clients to flock to e-commerce marketplaces to purchase almost everything from essentials to electronics, boosting need for firms like Klaviyo, which automate and customize related communications, advertising and marketing and advertising strategies.
Reporting by Akanksha Rana Enhancing by Amy Caren Daniel
