15 Best New Tech Stocks To Invest In

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8. Klaviyo Inc. (NYSE:KVYO)

Market Capitalization as of January 21: $10.83 billion

Number of Hedge Fund Holders: 24

Klaviyo Inc. (NYSE:KVYO) provides customer data and marketing automation platforms. Its cloud-native platform empowers businesses of all sizes to deliver personalized email, SMS, and push notifications. This drives customer engagement and boosts revenue.

The company now relies on AI to drive growth, which includes features like RFM (recency, frequency, and monetary value) analysis, product analysis, and AI-powered content creation tools. In the high-end market, businesses like Authentic Brands Group and Dragon-Bone are choosing Klaviyo Inc. (NYSE:KVYO) to modernize their tech stacks and use AI for a competitive advantage. On January 6, the company introduced AI-powered features to revolutionize how B2C marketers use customer data. These advancements empower marketers to personalize at scale and simplify decision-making.

It’s well-positioned for growth with a focus on international expansion, product innovation, and strategic partnerships. While near-term net revenue retention may be impacted by macroeconomic pressures, Klaviyo Inc. (NYSE:KVYO) remains confident in its long-term growth prospects. In Q3 2024, it made a revenue of $235 million, which is a 34% year-over-year increase.

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