Marketing automation company Klaviyo plans IPO

Boston-based marketing automation company Klaviyo plans to go public later this year, the Wall Street Journal reports.

Why it matters: The potential listing comes amid a dearth of IPOs given the volatile financial markets.

Details: Klaviyo has hired Goldman Sachs to be its lead underwriter, according to the WSJ.

• The company is profitable and generated more than $575 million in recurring revenue last year, the WSJ reports.
• Founded in 2012, Klaviyo is a marketing tech platform that helps brands manage email and SMS-based campaigns.
• Klaviyo was valued at $9.15 billion when it raised a $320 million Series D round in 2021, according to a company press release.