Klaviyo, a Boston, MA-based provider of a SaaS data and marketing platform, raised $150m in funding.
Global growth equity firm Summit Partners made the investment. In conjunction with the funding, Michael Medici, a Managing Director at Summit Partners, has joined the Klaviyo Board of Directors.
The company intends to use the funds to hire hundreds of engineers, build the corporate development team and expand in other areas.
Led by Andrew Bialecki, CEO and co-founder, Klaviyo provides a data and marketing platform for companies to leverage their owned marketing channels. It allows them to access, store, analyze, and use transactional and behavioral data to power highly-targeted email and advertising campaigns.
The platform stores a complete view of each end customer’s activities paired with flexible and real-time segmentation to deliver on brand experiences with automatic revenue attribution.
The company currently serves over 12,000 innovative companies like Bonobos, CustomInk, Colourpop, Steve Madden and Untuckit.