Klaviyo acquires AI startup Agency, brings Elias Torres back as CPO

On August 5, 2026, Klaviyo (NYSE: KVYO) announced it had agreed to acquire the team, software, and intellectual property of Agency, a three-year-old AI-native customer success startup founded by serial entrepreneur Elias Torres . Financial terms were not disclosed . The deal is expected to close in the third quarter of 2026 .

What was Agency?

Agency was founded in 2023 and raised $32 million in venture funding from Sequoia, Menlo Ventures, and Felicis . It employed roughly 25 people, all of whom are expected to join Klaviyo after the transaction closes . Agency's website confirms the startup will wind down on August 31, 2026, with the team joining Klaviyo .

Torres's role at Klaviyo

Elias Torres will become Klaviyo's chief product officer, leading its agent product line, which includes Composer and Customer Agent . He will work closely with Klaviyo co-founder and co-CEO Andrew Bialecki .

A nearly two-decade relationship comes full circle

The acquisition reunites Torres and Bialecki in a relationship that spans nearly two decades:

• 2010: Torres hired Bialecki as one of Performable's first engineers .
• 2011: Performable was acquired by HubSpot — Torres's first M&A exit .
• 2015: Torres backed Klaviyo's seed round as an angel investor .
• 2021: Torres co-founded Drift, which was sold to Vista Equity for $1.2 billion .
• 2026: Klaviyo acquires Torres's third startup, bringing him in as CPO .

Klaviyo's market position

Klaviyo went public in September 2023 at a $9.2 billion valuation . The company believes its years of accumulated customer data give its AI agents a durable edge over competitors like Decagon and Sierra, since the agents can be trained on real commerce and marketing patterns rather than starting from scratch . CEO Andrew Bialecki stated the goal is to bring combined agent products to 200,000 businesses and millions more .