By Echo Wang
NEW YORK (Reuters) – Data and marketing automation company Klaviyo Inc. filed confidential documents for an initial public offering (IPO) in New York with US regulators on Friday, people familiar with the matter say.
Though terms of the IPO have not yet been finalized, the Boston-based company is considering raising at least $750 million when it is listed, one of the sources said. Klaviyo was valued at around $9.5 billion in its latest funding round in 2021.
According to the sources, Klaviyo has hired banks including Goldman Sachs Group, Morgan Stanley, Citigroup Inc, Barclays Plc, Mizuho Financial Group Inc and William Blair to lead preparations for the IPO.
Klaviyo and the banks did not immediately respond to requests for comment.
The Wall Street Journal reported in April that Klaviyo was preparing for an IPO.
Founded in 2012 by software developers Andrew Bialecki and Ed Hallen, Klaviyo helps ecommerce brands store and analyze data that enables them to send personalized marketing emails and messages to prospects.
(Reporting by Echo Wang in New York; Editing by Anirban Sen)
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