SCHEDULE 13G/A: Accel Funds and Director Ping Li Update Beneficial Ownership in Klaviyo, Inc. to 4.9%
Beneficial Ownership Disclosure Amendment
Accel Growth Fund V L.P., Accel Leaders Fund II L.P., and related entities, along with Klaviyo director Ping Li, have filed an amended Schedule 13G/A, disclosing a combined beneficial ownership of 4.9% of Klaviyo, Inc.'s Series A common stock.
Summary
- The filing is an Amendment No. 3 to Schedule 13G for Klaviyo, Inc., updating beneficial ownership information.
- The reporting persons include Accel Growth Fund V L.P. (AGF5), Accel Growth Fund V Strategic Partners L.P. (AGF5SP), Accel Growth Fund V Associates L.L.C. (AGF5A), Accel Growth Fund V Investors (2019) L.L.C. (AGFI19), Accel Leaders Fund II L.P. (ALF2), Accel Leaders Fund II Strategic Partners L.P. (ALF2SP), Accel Leaders Fund II Associates L.L.C. (ALF2A), Accel Leaders Fund II Investors (2019) L.L.C. (ALFI19), and Ping Li.
- Ping Li, a director of Klaviyo, Inc., is reported to beneficially own an aggregate of 4,658,363 shares of Series A common stock, representing 4.9% of the class.
- This aggregate ownership for Ping Li includes 38,928 shares with sole voting and dispositive power, and 4,619,435 shares with shared voting and dispositive power.
- The shares beneficially owned by the Accel entities are primarily issuable upon conversion of Series B Common Stock.
- The filing also includes a Grant of Power of Attorney, effective February 28, 2025, appointing Jaspreet Singh and Richard H. Zamboldi as attorneys-in-fact for numerous Accel entities for the purpose of executing and filing necessary instruments and documents.
Sentiment
Score: 5
Explanation: The document is an administrative filing (Schedule 13G/A) updating beneficial ownership, which is neutral in sentiment. It does not contain performance data or strategic announcements that would typically influence sentiment.
Future Outlook
NA
Industry Context
This filing is a routine amendment to a beneficial ownership statement by a venture capital firm and its affiliates, disclosing their updated stake in a publicly traded company. It reflects the ongoing investment activities typical of such firms in the technology sector.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Grant of Power of Attorney | Accel entities granted Power of Attorney to Jaspreet Singh and Richard H. Zamboldi to execute and file necessary instruments and documents in the normal course of business, including those related to investments. | 2025-02-28 | This is an internal administrative change for the Accel entities to streamline their filing processes, with no direct impact on Klaviyo, Inc.'s corporate governance structure. |
Related Party Transactions
- Ping Li, a director of Klaviyo, Inc., is also 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., which are among the entities reporting beneficial ownership in Klaviyo, Inc. This establishes a related party relationship between a director and a significant shareholder group.
Stakeholder Impact
- Shareholders: Provides updated transparency on the beneficial ownership structure by a significant institutional investor group and a company director.
- Regulatory Authorities: Fulfills SEC disclosure requirements for beneficial ownership.
Key Dates
| Date | Description |
|---|---|
| 2025-02-14 | Date as of which Klaviyo, Inc. reported 90,501,471 shares of Series A Common Stock outstanding in its Form 10-K. |
| 2025-02-19 | Date Klaviyo, Inc. filed its Annual Report on Form 10-K for the year ended December 31, 2024. |
| 2025-02-28 | Effective date of the Grant of Power of Attorney by Accel entities. |
| 2025-03-31 | Date of event which requires the filing of this Schedule 13G/A statement. |
| 2025-05-13 | Date the Schedule 13G/A filing was signed by the attorney-in-fact. |
Keywords
Klaviyo Inc., Accel, Schedule 13G/A, Beneficial Ownership, Series A Common Stock, Ping Li, Investment Funds, SEC Filing
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