• by Ray Schultz , August 25, 2023

Marketing automation platform Klaviyo has made an initial public offering and plans to trade its stock on the New York Stock Exchange under the ticker symbol "KVYO." according to a document on file with the Securities and Exchange Commission.   

The company reports $585.1 million in revenue for the 12 months ended June 30. This reflects revenue growth of 56.5% for the period.  

As of that date, the firm had served 130,000 customers with its SaaS solutions, it says. 

Klaviyo was founded in 2012, with the goal of helping its customers harness their first-party data. It seeks to grow its mid-market and enterprise presence, driving sales from both new and existing customers, expand internationally, invest in its platform and expand into new verticals. 

Among the risk factors is a history of net losses. 

Describing market conditions, Klaviyo lists these challenges faced by its customers:

• Third-party data has become increasingly unreliable, complicated and easy to misuse. 
• Increasing volume and complexity of first-party data together in a consistent, reliable form.  
• Businesses need personalized content to break through a saturated market.  
• Consumer channel preferences are dynamic and evolving.  

Earlier this month, Klaviyo announced it had appointed Marketing automation platform Chano Fernandez, Roxanne Oulman and Susan St. Ledger to its board of directors.