Klaviyo Acquires AI Startup Agency; Torres Rejoins as CPO
Klaviyo, a publicly listed platform specializing in e-commerce marketing automation, is set to acquire Agency, an AI-driven customer success startup established by Elias Torres in 2023. The financial details of the acquisition remain undisclosed. Agency successfully secured $32 million from investors such as Sequoia, Menlo Ventures, and Felicis. Following the acquisition, Torres will assume the role of chief product officer at Klaviyo, overseeing Agency's 25-member team to improve Klaviyo's AI tools: Composer and Customer Agent. Klaviyo's co-founder and CEO, Andrew Bialecki, expressed intentions to expand these offerings to 200,000 businesses and beyond. Torres has a history of co-founding Performable (acquired by HubSpot in 2011) and Drift, which was sold for $1.2 billion in 2021. Klaviyo went public in September 2023, achieving a valuation of $9.2 billion.
Key facts
- Klaviyo acquires Agency, an AI-powered customer success startup founded by Elias Torres.
- Terms of the deal were not disclosed.
- Agency was founded in 2023 and raised $32 million from Sequoia, Menlo Ventures, and Felicis.
- Torres will join Klaviyo as chief product officer, leading Agency's 25-person team.
- Klaviyo's AI agents include Composer and Customer Agent.
- Torres previously co-founded Performable (acquired by HubSpot in 2011) and Drift (sold to Vista Equity for $1.2 billion in 2021).
- Torres hired Bialecki at Performable in 2010; Bialecki later co-founded Klaviyo.
- Klaviyo went public in September 2023 at a $9.2 billion valuation.
Entities
Artists
- Elias Torres
- Andrew Bialecki
Institutions
- Klaviyo
- Agency
- Sequoia
- Menlo Ventures
- Felicis
- TechCrunch
- HubSpot
- Drift
- Vista Equity