The Boston-based company announced a strategic investment from Ottawa-headquartered Shopify and filed notice of a US$100-million equity raise with the U.S. Securities and Exchange Commission on Tuesday. Shopify declined to comment on the terms of the deal. It will recommend that its largest merchants on its Plus plan use the firm’s email product. (The Logic)

Talking point: Klaviyo had raised US$678.5 million before Shopify’s cash injection, most recently a US$320-million Series D round in May 2021 at a US$9.47-billion valuation, according to Pitchbook data. It’s the latest investment that Shopify has made in one of its app-ecosystem developers. In September 2021, it put a reported US$30 million into Yotpo, another marketing technology firm. After market leader Mailchimp pulled its Shopify app in March 2019 over a data dispute, the commerce platform launched its own email marketing tool that November; Klaviyo capitalized on the breakup, pitching itself to affected merchants, before Mailchimp returned to the Shopify platform in October 2021.