Shopify made an investment amounting to $100m in one of the marketing automation platforms, Klaviyo.
The investment is made to strengthen the existing partnership between the two companies. Moreover, Shopify will try to make Klaviyo the most recommended email product for all of its products, such as the Shopify premium merchant plan, Shopify Plus, and others. Shopify will also allow Klaviyo to access its in-development features.
Andrew Bialecki, CEO of klaviyo, also says that “We have a great bond with Shopify because we have been working closely with them for the past few years and now this investment is going to strengthen our bond and trust.” This is the next step we have taken as a partner, and in the upcoming future, we will develop more strategies like this.
Klaviyo is a family of more than 1,000 employees who work together and has raised approximately $775 million in investment for the company. Its great and well-recognized investors include Sands Capital, Counterpoint Globe, Accel, and Summit Partners, who have always supported the company and led it to successfully make its valuation up to $9.5 billion.
We had many talks with Shopify’s CEO and product team, and they believed and supported our mission of empowering creators. Moreover, they always show a lot of respect and gratitude towards our customers, the product we built, and our product-led culture. Shopify is the most important company behind our success, and we are glad that we are partners with Shopify, which helps us grow so quickly.
Klaviyo is a Boston-based company that was founded in 2012 with the intention of automating the process of sending emails and text messages to its customers. It provides various facilities to its customers and other businesses, such as:
- Setting up triggers for messages related to abandoned carts
- Recommendation of products
- Predicting analytics tools and,
- Leveraging an array of templates
In this competitive world, there is a lot of competition in each and every field. Similarly, the marketing automation tech space is also full of competition. But, as compared to other successful enterprises, Klaviyo has done very well and always shows outstanding performance. When it started, it had a small number of customers, but at present, it has more than 1 lakh customers, including Unilever, Dermalogica, Solo Stove, and Citizen Watches.
According to Shopify, Klaviyo is a new company in the string of investments and acquisitions that is very futuristic and focused on its aim of broadening the e-commerce platform’s reach. When the company was started, its hard work was up to the mark, and at present, its hard work can be traced through its valuation.