Amendment: SEC Form SCHEDULE 13G/A filed by Klaviyo Inc.
$KVYO
Computer Software: Prepackaged Software
Technology
|
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13G
|
UNDER THE SECURITIES EXCHANGE ACT OF 1934
|
(Amendment No. 3)
|
Klaviyo, Inc. (Name of Issuer) |
Series A Common Stock, par value $0.001 per share (Title of Class of Securities) |
49845K101 (CUSIP Number) |
03/31/2025 (Date of Event Which Requires Filing of this Statement) |
| Check the appropriate box to designate the rule pursuant to which this Schedule is filed: |
 Rule 13d-1(b)
|
| Rule 13d-1(c)
|
 Rule 13d-1(d)
|
SCHEDULE 13G
|
| CUSIP No. | 49845K101 |
| 1 | Names of Reporting Persons
Summit Partners Growth Equity Fund IX-A, L.P. | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
| ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
22,948,085.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
| ||||||||
| 11 | Percent of class represented by amount in row (9)
17.74 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
PN |
Comment for Type of Reporting Person: Represents 22,948,085 shares of Series A Common Stock ("Series A Shares") issuable in respect of 22,948,085 shares of Series B Common Stock ("Series B Shares"). Calculated based upon 90,501,471 Series A Shares outstanding as of February 14, 2025, as reported on the Issuer's Form 10-K filed with the Securities and Exchange Commission ("SEC") on February 19, 2025, as increased by an aggregate of 38,827,778 Series A Shares issuable in respect of the 38,827,778 Series B Shares held by the Summit Holders (as defined in Item 2).
SCHEDULE 13G
|
| CUSIP No. | 49845K101 |
| 1 | Names of Reporting Persons
Summit Partners Growth Equity Fund IX-B, L.P. | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
| ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
14,328,463.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
| ||||||||
| 11 | Percent of class represented by amount in row (9)
11.08 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
PN |
Comment for Type of Reporting Person: Represents 14,328,463 Series A Shares issuable in respect of 14,328,463 Series B Shares. Calculated based upon 90,501,471 Series A Shares outstanding as of February 14, 2025, as reported on the Issuer's Form 10-K filed with the SEC on February 19, 2025, as increased by an aggregate of 38,827,778 Series A Shares issuable in respect of the 38,827,778 Series B Shares held by the Summit Holders (as defined in Item 2).
SCHEDULE 13G
|
| CUSIP No. | 49845K101 |
| 1 | Names of Reporting Persons
Summit Partners Co-Invest (Kiwi), L.P. | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
| ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
1,414,967.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
| ||||||||
| 11 | Percent of class represented by amount in row (9)
1.09 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
PN |
Comment for Type of Reporting Person: Represents 1,414,967 Series A Shares issuable in respect of 1,414,967 Series B Shares. Calculated based upon 90,501,471 Series A Shares outstanding as of February 14, 2025, as reported on the Issuer's Form 10-K filed with the SEC on February 19, 2025, as increased by an aggregate of 38,827,778 Series A Shares issuable in respect of the 38,827,778 Series B Shares held by the Summit Holders (as defined in Item 2).
SCHEDULE 13G
|
| CUSIP No. | 49845K101 |
| 1 | Names of Reporting Persons
Summit Investors GE IX/VC IV, LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
| ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
120,609.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
| ||||||||
| 11 | Percent of class represented by amount in row (9)
0.09 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person: Represents 120,609 Series A Shares issuable in respect of 120,609 Series B Shares. Calculated based upon 90,501,471 Series A Shares outstanding as of February 14, 2025, as reported on the Issuer's Form 10-K filed with the SEC on February 19, 2025, as increased by an aggregate of 38,827,778 Series A Shares issuable in respect of the 38,827,778 Series B Shares held by the Summit Holders (as defined in Item 2).
SCHEDULE 13G
|
| CUSIP No. | 49845K101 |
| 1 | Names of Reporting Persons
Summit Investors GE IX/VC IV (UK), L.P. | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
| ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
CAYMAN ISLANDS
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
15,654.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
| ||||||||
| 11 | Percent of class represented by amount in row (9)
0.01 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
PN |
Comment for Type of Reporting Person: Represents 15,654 Series A Shares issuable in respect of 15,654 Series B Shares. Calculated based upon 90,501,471 Series A Shares outstanding as of February 14, 2025, as reported on the Issuer's Form 10-K filed with the SEC on February 19, 2025, as increased by an aggregate of 38,827,778 Series A Shares issuable in respect of the 38,827,778 Series B Shares held by the Summit Holders (as defined in Item 2).
SCHEDULE 13G
|
| CUSIP No. | 49845K101 |
| 1 | Names of Reporting Persons
Summit Partners, L.P. | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
| ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
38,827,778.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
| ||||||||
| 11 | Percent of class represented by amount in row (9)
30.02 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
PN |
Comment for Type of Reporting Person: Represents 38,827,778 Series A Shares issuable in respect of 38,827,778 Series B Shares. Calculated based upon 90,501,471 Series A Shares outstanding as of February 14, 2025, as reported on the Issuer's Form 10-K filed with the SEC on February 19, 2025, as increased by an aggregate of 38,827,778 Series A Shares issuable in respect of the 38,827,778 Series B Shares held by the Summit Holders (as defined in Item 2).
SCHEDULE 13G
|
| Item 1. | ||
| (a) | Name of issuer:
Klaviyo, Inc. | |
| (b) | Address of issuer's principal executive offices:
125 Summer Street, Floor 6, Boston, MA 02110 | |
| Item 2. | ||
| (a) | Name of person filing:
This statement is filed by the entities and persons listed below, all of whom together are referred to herein as the "Reporting Persons":
(i) Summit Partners Growth Equity Fund IX-A, L.P. ("Fund IX-A")
(ii) Summit Partners Growth Equity Fund IX-B, L.P. ("Fund IX-B")
(iii) Summit Partners Co-Invest (Kiwi), L.P. ("Kiwi Co-Invest Fund")
(iv) Summit Investors GE IX/VC IV, LLC ("Fund IX/VC IV")
(v) Summit Investors GE IX/VC IV (UK), L.P. ("Fund IX/VC IV (UK)," and together with each of the foregoing, the "Summit Holders")
(vi) Summit Partners, L.P. | |
| (b) | Address or principal business office or, if none, residence:
222 Berkeley Street, 18th Floor
Boston, MA 02116 | |
| (c) | Citizenship:
See responses to Item 4 on each cover page. | |
| (d) | Title of class of securities:
Series A Common Stock, par value $0.001 per share | |
| (e) | CUSIP No.:
49845K101 | |
| Item 3. | If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: | |
| (a) | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
| |
| (b) | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
| |
| (c) | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
| |
| (d) | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
| |
| (e) | An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
| |
| (f) | An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
| |
| (g) | A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
| |
| (h) | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
| |
| (i) | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
| |
| (j) | A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution: | |
| (k) | Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
| |
| Item 4. | Ownership | |
| (a) | Amount beneficially owned:
See responses to Item 9 on each cover page.
The aggregate Series A Shares beneficially owned by the Reporting Persons and reflected in this statement represents 30.02% of the outstanding Series A Shares. Such calculation is based upon 90,501,471 Series A Shares outstanding as of February 14, 2025, as reported on the Issuer's Form 10-K filed with the SEC on February 19, 2025, as increased by an aggregate of 38,827,778 Series A Shares issuable in respect of the 38,827,778 Series B Shares held by the Summit Holders.
In this regard, the reported securities are directly held by Fund IX-A (22,948,085 Series A Shares issuable in respect of 22,948,085 Series B Shares), Fund IX-B (14,328,463 Series A Shares issuable in respect of 14,328,463 Series B Shares), Kiwi Co-Invest Fund (1,414,967 Series A Shares issuable in respect of 1,414,967 Series B Shares), Fund IX/VC IV (120,609 Series A Shares issuable in respect of 120,609 Series B Shares), and Fund IX/VC IV (UK) (15,654 Series A Shares issuable in respect of 15,654 Series B Shares). Summit Partners, L.P. is the manager of Summit Partners GE IX, LLC, which is the general partner of Summit Partners GE IX, LP, which is the general partner of Fund IX-A and Fund IX-B. Summit Partners, L.P. is the managing member of Summit Partners Co-Invest Kiwi GP, LLC, which is the general partner of Kiwi Co-Invest Fund. Summit Master Company, LLC is the general partner of Summit Partners, L.P., which is the manager of Summit Investors Management, LLC, which is the manager of Fund IX/VC IV and the general partner of Fund IX/VC IV (UK). Summit Master Company, LLC, as the managing member of Summit Investors Management, LLC, has delegated voting and investment decisions with respect to the Series B Shares held by Fund IX/VC IV and Fund IX/VC IV (UK) to Summit Partners, L.P.
The investment committee of Summit Partners, L.P. is currently composed of Peter Chung, Scott Collins and Peter Rottier, who may be deemed to have voting and dispositive authority over, and therefore beneficial ownership of, the reported securities. Each of the foregoing entities, Mr, Chung, Mr. Collins, and Mr. Rottier disclaims beneficial ownership of the reported securities (except to the extent such securities are directly held by such entity). The filing of this statement shall not be construed as an admission that the Reporting Persons or any of the foregoing are the beneficial owners of any of the securities covered by this statement. | |
| (b) | Percent of class:
See responses to Item 11 on each cover page | |
| (c) | Number of shares as to which the person has:
| |
| (i) Sole power to vote or to direct the vote:
See responses to Item 5 on each cover page. | ||
| (ii) Shared power to vote or to direct the vote:
See responses to Item 6 on each cover page. | ||
| (iii) Sole power to dispose or to direct the disposition of:
See responses to Item 7 on each cover page. | ||
| (iv) Shared power to dispose or to direct the disposition of:
See responses to Item 8 on each cover page. | ||
| Item 5. | Ownership of 5 Percent or Less of a Class. | |
| Item 6. | Ownership of more than 5 Percent on Behalf of Another Person. | |
Not Applicable
| ||
| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. | |
Not Applicable
| ||
| Item 8. | Identification and Classification of Members of the Group. | |
Not Applicable
| ||
| Item 9. | Notice of Dissolution of Group. | |
Not Applicable
| ||
| Item 10. | Certifications: |
Not Applicable
|
| SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
|
|
|
|
|
|
|
|
|
|
|
|
|
Comments accompanying signature: Exhibit A
Joint Filing Agreement, dated as of January 31, 2024, incorporated by reference to the Schedule 13G filed by the Reporting Persons on January 31, 2024
Exhibit B
Powers of Attorney, incorporated herein by reference to of the statement on Schedule 13G filed by the Reporting Persons on January 31, 2024