Accel Funds Disclose Passive Klaviyo Stake via SC 13G

TL;DR

**Accel's SC 13G on Klaviyo is a routine disclosure, showing continued passive ownership.**

AI Summary

Accel Growth Fund V L.P. and its affiliated entities, including Accel Leaders Fund II L.P., filed an SC 13G on February 12, 2024, indicating their ownership in Klaviyo, Inc. as of December 31, 2023. This filing, made under Rule 13d-1(d), signifies that Accel is a passive investor and not seeking to influence control of Klaviyo. For investors, this means a significant institutional holder continues to maintain its position, which can be seen as a vote of confidence in Klaviyo's long-term prospects, but also highlights that this is a routine disclosure rather than a new investment or divestment.

Why It Matters

This filing confirms a major institutional investor's continued passive stake in Klaviyo, offering a baseline understanding of significant ownership without signaling any immediate changes in investment strategy.

Risk Assessment

Risk Level: low — This is a routine disclosure filing by a passive investor, indicating no immediate change in investment strategy or control intent.

Analyst Insight

Smart investors should note that this filing is a routine disclosure of a passive stake, not an indication of new investment or divestment. It confirms a significant institutional holder's continued presence, which can be a positive signal, but doesn't suggest any immediate catalyst for stock movement.

Key Numbers

• $0.001 — Par Value per Share (Par value of Klaviyo, Inc.'s Series A common stock)

Key Players & Entities

• Accel Growth Fund V L.P. (company) — reporting person and institutional investor in Klaviyo, Inc.
• Klaviyo, Inc. (company) — subject company whose securities are being reported
• Accel Leaders Fund II L.P. (company) — group member affiliated with Accel Growth Fund V L.P.
• Ping Li (person) — group member associated with the reporting entities
• December 31, 2023 (date) — date of the event which requires the filing of this statement
• February 12, 2024 (date) — date the SC 13G filing was made
• $0.001 (dollar_amount) — par value per share of Klaviyo's Series A common stock

Forward-Looking Statements

• Accel will maintain its passive investment in Klaviyo, Inc. for the foreseeable future. (Accel Growth Fund V L.P.) — high confidence, target: December 31, 2024

FAQ

From the Filing

0001104659-24-016822.txt : 20240212 0001104659-24-016822.hdr.sgml : 20240212 20240212203009 ACCESSION NUMBER: 0001104659-24-016822 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240212 DATE AS OF CHANGE: 20240212 GROUP MEMBERS: ACCEL GROWTH FUND V ASSOCIATES L.L.C. GROUP MEMBERS: ACCEL GROWTH FUND V INVESTORS (2019) L.L.C. GROUP MEMBERS: ACCEL GROWTH FUND V STRATEGIC PARTNERS L.P. GROUP MEMBERS: ACCEL LEADERS FUND II ASSOCIATES L.L.C. GROUP MEMBERS: ACCEL LEADERS FUND II INVESTORS (2019) L.L.C. GROUP MEMBERS: ACCEL LEADERS FUND II L.P. GROUP MEMBERS: ACCEL LEADERS FUND II STRATEGIC PARTNERS L.P. GROUP MEMBERS: PING LI SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Klaviyo, Inc. CENTRAL INDEX KEY: 0001835830 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] ORGANIZATION NAME: 06 Technology IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-94164 FILM NUMBER: 24622210 BUSINESS ADDRESS: STREET 1: 125 SUMMER STREET, FLOOR 6 CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 800-338-1744 MAIL ADDRESS: STREET 1: 125 SUMMER STREET, FLOOR 6 CITY: BOSTON STATE: MA ZIP: 02110 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Accel Growth Fund V L.P. CENTRAL INDEX KEY: 0001768019 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 500 UNIVERSITY AVENUE CITY: PALO ALTO STATE: CA ZIP: 94301 BUSINESS PHONE: (650) 614-4800 MAIL ADDRESS: STREET 1: 500 UNIVERSITY AVENUE CITY: PALO ALTO STATE: CA ZIP: 94301 SC 13G 1 tm245965d1_sc13g.htm SC 13G SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1 (b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2 (b) (Amendment No. __)* Klaviyo, Inc. (Name of Issuer) Series A common stock, par value $0.001 per share (Title of Class of Securities) 49845K101 (CUSIP Number) December 31, 2023 (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) x Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). (Continued on following pages) Page 1 of 17 Pages Exhibit Index Contained on Page 14 CUSIP NO. 49845K101 13 G Page 2 of 17 1 NAME OF REPORTING SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Accel Growth Fund V L.P. (“AGF5”) 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ¨ (b) x 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER 1,512,045 shares issuable upon conversion of Series B Common Stock, all of which are directly owned by AGF5. Accel Growth Fund V Associates L.L.C. (“AGF5A”), the general partner of AGF5, may be deemed to have sole power to vote these shares. Ping Li (“PL”), a director of the issuer and a managing member of AGF5A, may be deemed to have shared power to vote these shares. 6 SHARED VOTING POWER See response to row 5. 7 SOLE DISPOSITIVE POWER 1,512,045 shares issuable upon conversion of Series B Common Stock, all of which are directly owned by AGF5. AGF5A, the general partner of