Klaviyo Raises $200 Million In Funding

Marketing platform Klaviyo has raised $200 million in Series C funding, bringing total financing to $385.5 million.  

The round was led by Accel, with participation by existing investor Summit Partners. In addition, Accel’s Ping Li will join the Klabiyo board. 

The firm, which claims a $4.15 billion valuation, aims to help clients create “an experience they control — one that is ultimately measured in revenues generated, not pages viewed,” states Klaviyo CEO Andrew Bialecki.

A testimonial was given by Erich Hellstrom, manager of retention marketing for Chubbies, a online retailer of shorts, shirts and swimming trunks for men.

Klaviyo has provided Chubbies with valuable insights "and levers to boost revenue by double-digit percentages year after year,”  Hellstrom states. 

Klabiyo says it has 50,000 customers, a base that it says has doubled in the past year. Founded in 2002, Klaviyo plans to double its 500-employee head count over the next year, TechCrunch reports. 

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In other news, Klaviyo is working with Miva Inc. and Arctic Leaf on Klaviyo Connector for Miva. The tool connects Klaviyo's marketing platform and Miva's e-commerce platform for Arctic Leaf. 

“By combining the power of the Miva and Klaviyo platforms, this Connector helps our clients get the most out of their email marketing efforts,” states Josh Garellek, CEO of Arctic Leaf.

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