Klaviyo raises IPO price range to $27 to $29 a share

 Klaviyo Inc.
KVYO,
,
the Boston-based digital marketing software-as-a-service platform, raised the proposed price range for its initial public offering on Monday to $27 to $29 a share from $25 to $27 previously. The news was reported late Sunday by Bloomberg. The company is scheduled to go public Tuesday on the New York Stock Exchange under the ticker symbol “KVYO.” Goldman Sachs, Morgan Stanley and Citigroup are the lead underwriters. Klaviyo is planning to offer 19.2 million shares to raise $556.8 million at the top of that range, at a valuation of $7.3 billion. The move comes after Instacart, which is also primed to go public this week, raised its price range Friday to $28 to $30 a share, from $26 to $28 previously, following the success of Arm Holdings’
ARM,
-4.47%
 successful IPO last week. The Renaissance IPO ETF
IPO,
-0.96%
has gained 33% in the year to date, while the S&P 500
SPX,
-1.22%
has gained 16%.