Deal Details

Klaviyo Completes $576 Million Initial Public Offering

Technology & Services

Klaviyo initial public offering

Summary

Klaviyo, Inc. (“Klaviyo”) (NYSE: KVYO), a portfolio company of Summit Partners, L.P. (“Summit”), recently completed its initial public offering (the “Offering”) of 19,200,000 shares of its Series A common stock at a price to the public of $30.00 per share, generating gross proceeds of $576.0 million. The offering consists of 11,507,693 shares of Series A common stock offered by Klaviyo and 7,692,307 shares of Series A common stock sold by certain selling stockholders. Klaviyo will not receive any proceeds from any sale of shares by the selling stockholders. In addition, certain selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2,880,000 shares of Series A common stock. Klaviyo intends to use the net proceeds from the offering for working capital, general corporate purposes and to fund growth strategies.

Baird served as a co-manager on this transaction.

About

Klaviyo powers smarter digital relationships, making it easy for businesses to capture, store, analyze, and predictively use their own data to drive measurable, high-value outcomes. Klaviyo’s modern and intuitive SaaS platform enables business users of any skill level to harness their first-party data from more than 300 integrations to send the right message at the right time across email, SMS, and push notifications. Innovative businesses like SKIMS, Good American, Dermalogica, Supergoop! and more than 130,000 other paying users leverage Klaviyo to acquire, engage, and retain customers—and grow on their own terms. Klaviyo is headquartered in Boston, Massachusetts.

Founded in 1984, Summit Partners, L.P. is a global alternative investment firm that is currently managing more than $37 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. Summit maintains offices in North America and Europe, and invests in companies around the world. Summit is headquartered in Boston, Massachusetts.

Technology & Services

Klaviyo initial public offering