Shopify formed a strategic partnership with Klaviyo, a Boston-based marketing automation software provider, enhancing features and functionality for users of both platforms. On August 2, 2022, the same day the partnership was announced, Klaviyo filed a document with the U.S. Securities and Exchange Commission (SEC), revealing the sale of an equity stake worth $129 million (US$100 million) to an unnamed buyer, believed to be Shopify. This investment marks a deepening of ties that began when Klaviyo joined the Shopify ecosystem in 2017.

Under the new agreement, Klaviyo will become the recommended email solution for Shopify Plus customers and will gain early access to new development features from Shopify. Klaviyo's CEO, Andrew Bialecki, highlighted the long-standing collaboration with Shopify, which has been crucial to Klaviyo's growth. Klaviyo, which started in 2012, has over 100,000 paid users and integrates with platforms to automate communications like email and text messaging about abandoned carts and product recommendations. The company was valued at $12.3 billion (US$9.5 billion) during its last Series D financing round in May 2021.

This partnership comes as Shopify continues to expand its merchant services, following a history of strategic investments in tech startups and a significant acquisition of Deliverr for $1.5 billion (US$1.2 billion) to enhance its fulfillment capabilities. This move underscores Shopify's commitment to enriching its ecosystem amidst evolving e-commerce trends and competitive pressures.