SCHEDULE 13G/A: Accel Funds and Director Ping Li Disclose Significant Beneficial Ownership in Klaviyo, Inc.

Multiple Accel investment funds and director Ping Li have filed an updated Schedule 13G, disclosing their beneficial ownership of Klaviyo, Inc. Series A common stock, primarily through convertible Series B shares.

Summary

• Accel Growth Fund V L.P. (AGF5) beneficially owns 1,055,195 shares of Klaviyo, Inc. Series A common stock, representing 1.3% of the class.
• Accel Growth Fund V Strategic Partners L.P. (AGF5SP) beneficially owns 44,808 shares, representing 0.1% of the class.
• Accel Growth Fund V Associates L.L.C. (AGF5A), as the general partner for AGF5 and AGF5SP, is deemed to beneficially own 1,100,003 shares, representing 1.4% of the class.
• Accel Growth Fund V Investors (2019) L.L.C. (AGFI19) beneficially owns 54,855 shares, representing 0.1% of the class.
• Accel Leaders Fund II L.P. (ALF2) beneficially owns 3,163,506 shares, representing 3.9% of the class.
• Accel Leaders Fund II Strategic Partners L.P. (ALF2SP) beneficially owns 134,772 shares, representing 0.2% of the class.
• Accel Leaders Fund II Associates L.L.C. (ALF2A), as the general partner for ALF2 and ALF2SP, is deemed to beneficially own 3,298,278 shares, representing 4.0% of the class.
• Accel Leaders Fund II Investors (2019) L.L.C. (ALFI19) beneficially owns 166,299 shares, representing 0.2% of the class.
• Ping Li, a director of Klaviyo, Inc. and a managing member of several Accel entities, beneficially owns an aggregate of 4,619,435 shares, representing 5.6% of the Series A common stock.
• All reported shares are issuable upon conversion of Series B Common Stock.
• The percentages of ownership are calculated based on 78,803,963 shares of Series A Common Stock outstanding as of October 31, 2024, as reported in Klaviyo's Form 10-Q, plus the respective convertible Series B shares held by each reporting person.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership, which is neutral in sentiment. It provides no positive or negative operational or financial news.

Future Outlook

NA

Management Comments

• Ping Li, a director of the issuer and a managing member of Accel Growth Fund V Associates L.L.C., Accel Growth Fund V Investors (2019) L.L.C., Accel Leaders Fund II Associates L.L.C., and Accel Leaders Fund II Investors (2019) L.L.C., may be deemed to have shared power to vote and dispose of the reported shares.

Industry Context

This filing is a routine disclosure of beneficial ownership by institutional investors and a company director, reflecting their holdings in Klaviyo, Inc. It does not provide specific insights into broader industry trends but indicates continued investment by Accel funds in the technology/software sector, where Klaviyo operates.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional and insider ownership, which can influence perceptions of stability and long-term commitment.

Key Dates

Keywords

Klaviyo, SEC filing, Schedule 13G, beneficial ownership, Accel, Ping Li, Series A common stock, Series B common stock, institutional ownership, investor disclosure