By Echo Wang
NEW YORK (Reuters) – Data and marketing automation firm Klaviyo Inc confidentially submitted paperwork on Friday with U.S. regulators for an initial public offering (IPO) in New York, according to people familiar with the matter.
While the terms of the IPO have not yet been set, the Boston-based company is mulling a raise of at least $750 million in the listing, one of the sources said. Klaviyo was valued at about $9.5 billion in its last financing round in 2021.
Klaviyo has tapped banks including Goldman Sachs Group, Morgan Stanley, Citigroup Inc, Barclays Plc, Mizuho Financial Group Inc and William Blair to lead its preparations for the listing, the sources said.
Klaviyo and the banks did not immediately respond to requests for comment.
The Wall Street Journal had reported in April that Klaviyo was preparing for an IPO.
Klaviyo, which was founded in 2012 by software engineers Andrew Bialecki and Ed Hallen, helps store and analyze data for e-commerce brands that enables them to send out personalized marketing emails and messages to potential customers.
(Reporting by Echo Wang in New York; Editing by Anirban Sen)
