Klaviyo Inc.

Overview

Klaviyo operates in the marketing automation, email marketing, and B2C CRM categories. [1] Its platform is used by B2C brands for email marketing, SMS marketing, WhatsApp business management, mobile push notifications, social media marketing, customer service automation, and data management. [2] The company's core technical approach vertically integrates a customer data platform with marketing execution tooling, maintaining a unified customer profile that tracks behavioral, transactional, and engagement data across channels. [3] Klaviyo's pricing model is tiered by the number of active customer profiles and messaging volume, with a free entry level and paid plans scaling up to enterprise custom pricing. [4] The platform offers more than 350 pre-built integrations with e-commerce platforms, advertising networks, review tools, and other martech applications. [5] In 2025, the company repositioned its platform under the label "B2C CRM," reflecting an expansion beyond its original email and SMS marketing roots to encompass a broader customer relationship management suite. [6]

History

Klaviyo was founded in 2012 by Andrew Bialecki and Ed Hallen, both alumni of Applied Predictive Technologies. [1] The company was bootstrapped for its first three years before taking outside investment. [2] In 2015, the company raised a seed round from Accomplice, followed by a Series A from Astral Capital. [3] Summit Partners led a $150 million Series B round in March 2019. [4] In November 2020, Accel led a $200 million Series C round with participation from Summit Partners, bringing total funding to $358.5 million. [5] A $320 million Series D round followed in May 2021, led by Sands Capital with participation from Morgan Stanley and Owl Rock, at a valuation of approximately $9.5 billion. [6] In August 2022, Shopify made a $100 million strategic investment in Klaviyo and announced Klaviyo as its recommended email solution partner for Shopify Plus, its premium merchant plan. [7] Klaviyo also completed its first acquisition in 2022 when it acquired code development firm Napkin.io. [8] In April 2023, Klaviyo filed for an IPO; in September 2023, it began trading on the New York Stock Exchange under ticker KVYO, raising $576 million at a $9.2 billion valuation. [9] In August 2025, Klaviyo acquired Gatsby, a customer engagement platform, expanding its capabilities into social media marketing. [10]

Market Position

Klaviyo reported full-year 2025 revenue of $1.23 billion, representing 32% year-over-year growth, and served over 193,000 paying customers at the end of fiscal year 2025. [1] The company has seen accelerating enterprise adoption, with the number of customers generating over $50,000 in annual recurring revenue growing 37% year-over-year to 3,912 at end of fiscal 2025. [2] Net revenue retention was 110% as of December 31, 2025. [3] The platform has a pronounced concentration in the retail and e-commerce verticals; per the company's own S-1 filing, approximately 77.5% of ARR as of December 31, 2022 came from customers also using the Shopify platform. [4] Documented enterprise customers named in official earnings releases include Mattel, TaylorMade, Glossier, Liquid Death, and Daily Harvest. [5] 6sense data tracks Klaviyo as holding approximately 11.40% market share in the marketing automation platform category, with MailChimp, Intercom, and HubSpot Marketing Hub listed as the largest competitors by installed base. [6] International revenue grew 42% year-over-year in fiscal 2025, supported by regional hubs in Dublin and Singapore. [7]

Competition

Klaviyo competes primarily in the e-commerce-focused marketing automation space. Its most direct competitors in that segment include Omnisend, which positions itself as an ecommerce-native alternative at lower cost, and Attentive, which leads with an SMS-first approach. [1] Braze is frequently cited as the enterprise-tier alternative: it targets organizations with complex cross-channel requirements, larger budgets, and dedicated technical teams, and was named a Leader in the 2025 Gartner Magic Quadrant for Multichannel Marketing Hubs. [2] Mailchimp is the dominant platform by installed base in the broader marketing automation category, oriented toward SMB ease-of-use and affordability rather than deep e-commerce data integration. [3] On G2, Klaviyo outscores Attentive in email personalization (9.0 vs. 7.1) and segmentation (9.0 vs. 7.5), while Attentive scores higher on bulk SMS capabilities (9.1 vs. 8.6) and ease of use (9.1 vs. 8.7). [4] Trade press and third-party analysts note that Klaviyo's primary competitive differentiation is its depth of e-commerce data integration and revenue attribution, while its main structural vulnerability is per-contact pricing that can become expensive for brands with large or dormant lists. [5] The company itself competes with horizontal platforms such as HubSpot and Salesforce Marketing Cloud at the enterprise level, and with Iterable and MoEngage for mobile-first or cross-vertical use cases. [6]

Sources

1. Klaviyo — Wikipedia, 2025-07-22
2. Klaviyo - 2026 Company Profile, Team, Funding, Competitors & Financials — Tracxn, 2026-05-15
3. Klaviyo: From Bootstrapped Beginnings to IPO — Summit Partners, 2025-10-27
4. Klaviyo Delivers Outstanding 2025 Results: 32% Revenue Growth, Record Fourth Quarter and Raised Fiscal Year 2026 Outlook — Klaviyo Investor Relations, 2026-02-10
5. Klaviyo Raises $200 Million in Series C Funding — Business Wire, 2020-11-17
6. Klaviyo - 2026 Funding Rounds & List of Investors — Tracxn, 2026
7. Klaviyo IPO Goes Public: A Promising Debut — Cuker Agency, 2023-09-28
8. Klaviyo IPO: Investment Opportunities & Pre-IPO Valuations — Forge Global, 2025-12-05
9. Inside Klaviyo's IPO: A Financial Teardown — SBO Financial, 2024-11-05
10. Compare Attentive vs. Klaviyo — G2
11. Mailchimp AI vs Klaviyo AI vs Braze AI – A Complete Guide for Marketing Leaders in 2026 — Genesys Growth
12. Klaviyo reviews 2026: the ratings, the pricing, and the one... — Ringly.io, 2026-06-22
13. Klaviyo revenue, valuation & funding — Sacra
14. Klaviyo - Market Share, Competitor Insights in Marketing Automation Platforms — 6sense
15. Klaviyo 2024 Annual Report (Form 10-K / 2025ARS) — U.S. Securities and Exchange Commission (SEC), 2025