Shopify makes $100M strategic investment in marketing automation startup

From TechCrunch: E-commerce marketing automation platform Klaviyo has received a $100 million strategic investment from Shopify, according to documents filed with the U.S. Securities and Exchange Commission. The disclosure coincided with the announcement that Klaviyo and Shopify will strengthen their existing partnership by making Klaviyo the recommended email product for Shopify’s premium merchant plan, Shopify Plus, while granting Klaviyo early access to in-development Shopify features.

“We’ve been working closely with Shopify for years and this is a great next step,” Klaviyo CEO Andrew Bialecki told TechCrunch via email. “I’ve talked with their product team and CEO many times — they’re big believers in our mission of empowering creators and they have a lot of respect for the products we’ve built and our customer-first, product-led culture. Shopify’s been key to our growth and a great team to work with and we’re excited that this will help us go faster in helping more of their customers.”

Founded in 2012, Boston-based Klaviyo — which TechCrunch has profiled extensively — integrates with existing platforms (e.g., Octane AI, Recharge) to automate the sending of emails and text messages to customers. Using Klaviyo, businesses can set up triggers for messages about abandoned carts, product recommendations and more, leveraging an array of templates and predictive analytics tools.

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