The first group of upcoming potential unicorn IPOs is shaping up well

• Klaviyo: According to media reports, Klaviyo is going public later this year. Or, is likely to do so, provided market conditions don’t get worse. With reported ARR of around $600 million and a last private valuation of around $9.5 billion, the marketing automation company could make a material splash when it goes public. Given that it is a pretty pure-play software company by our understanding, it could help the market figure out how to price former startups that want to list their shares.
• Remote: Guess who just announced that they hired a CFO? Remote did; it announced today. The company sits in an interesting market segment (remote employee support) and most recently raised $300 million against a valuation of more than $3 billion. Now, a CFO doesn’t mean that an IPO is around the corner, but it does mean that Remote is getting its books in order. Given that it could take a while for the IPO window to truly open, we’re content to place Remote into the ‘first cohort’ list, even if a 2023 debut is not likely in the cards.