The email marketing platform, Klaviyo has announced that it has received $320 million in new capital in a Series D round, led by Sands Capital, a private and public equity investor that has, among many areas of focus, a thesis in ecommerce. With this, the company’s total fundraising to $675 million, following a $200 million Series C round from just six months ago.
In an official statement, the company said that “Klaviyo’s customer base doubled over the past 12 months and the company now serves over 70,000 paying customers, a more than 110% increase from 2019 - ranging from small businesses to Fortune 500 companies, in more than 120 countries.” It also said that it plans to increase its head count from 800 to 1,300 people this year.
The company is headquartered in Boston, and Klaviyo’s all-but decacorn valuation is a major win for the Boston enterprise ecosystem, which continues to percolate on high.
In addition to Sands, Counterpoint Global, Whale Rock Capital Management, ClearBridge Investments, Lone Pine Capital, Owl Rock Capital, and Glynn Capital also joined the round as new investors. Previous investors Accel and Summit Partners also participated.
