Boston Tech Unicorns DataRobot + Klaviyo Score Major Funding Rounds
Boston – November 19, 2020 – Cooley advised Boston-based market-leading software companies DataRobot and Klaviyo on their late-stage financings. The financings represent two of the largest software financings in the city this year. Corporate partners Harley Brown and Pat Mitchell led the Cooley teams on the transactions.
DataRobot, an enterprise AI platform, raised $270 million in a round led by Altimeter Capital. The financing – which was joined by new and existing investors including T. Rowe Price, funds and accounts managed by BlackRock, Tiger Global, Silver Lake Waterman, B Capital Group, Glynn Capital, ClearBridge, NEA and Sapphire Ventures – values the company at more than $2.7 billion, more than doubling its Series E valuation. DataRobot’s proven combination of cutting-edge software and world-class AI implementation, training and support services empowers any organization, regardless of size, industry or resources, to drive better business outcomes with AI.
Klaviyo, a marketing automation firm, raised $200 million in a Series C funding round led by Accel, with participation from Summit Partners. The financing brings the company’s valuation to $4.15 billion and follows its $150 million Series B last year. Klaviyo’s software is designed to easily integrate with leading ecommerce platforms, applying AI and machine learning algorithms to pull in customer data to generate audience insights and automate and customize relevant communications, advertising and marketing campaigns.
Cooley is one of the fastest-growing law firms in Boston, now employing more than two hundred lawyers and business professionals. Launched in 2007, the office represents many of the city’s most innovative technology and life sciences companies on high-profile corporate transactions and is a leader in promoting diversity in the legal profession and combating racial injustice. Earlier this month, Cooley announced a partnership with King Boston, a new nonprofit in Boston honoring the legacy of Dr. Martin Luther King Jr. and Coretta Scott King and promoting social justice.
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