Marketo Announces Record-Breaking 2011
Silicon Valley’s Fastest-Growing Private Company Closes Year With Over 130% Revenue Growth, 1,578 Customers and $50M in New Capital to Accelerate Leadership of the Emerging Revenue Performance Management Market
San Mateo, CA. — January 18, 2012 – Marketo, the fastest-growing provider of Revenue Performance Management (RPM) technology, today announced that it nearly doubled its customer count in 2011, signing 120 new contracts in December alone, and ending the year with 1,578 customers. Marketo has solidified its position as one of the fastest-growing SaaS companies in history, validated by revenue growth of over 130 percent year-over-year and almost doubling the number of Marketo employees.
In Q4 2011, Marketo closed its largest deal ever and posted over 400 percent year-over-year growth in its enterprise segment. Marketo welcomed a host of new enterprise customers in Q4, including Barnes & Noble College, Chrysler Fleet Division, and F5 Networks. The company also hired Doug Grigg as its VP of Enterprise Sales to support the swiftly growing Marketo enterprise customer base.
“Marketo ended 2011 as the clear leader in Revenue Performance Management, with faster growth and more capital than any others in the market,” said Phil Fernandez, president and CEO, Marketo. “Building on the success of our marketing automation product, our sales effectiveness and analytics solutions achieved record growth; in fact, our analytics solution posted higher sales between the two by the end of the year. Only Marketo provides such a comprehensive solution to enable companies to adjust their sales and marketing investments on the fly to drive their own growth, execute with precision, and gain a competitive edge.”
Marketo Accelerates Momentum
- Grew revenues more than 130 percent year-over-year while welcoming nearly 100 percent more customers to the Marketo family in 2011; added 120 new customers in December alone.
- Posted white-hot growth in 2011 led by the enterprise segment, which grew new billings (annual contract value) more than 400 percent year-over-year.
- Raised $50 million in new capital funding led by Battery Ventures, with existing investors Institutional Venture Partners, InterWest Partners, Mayfield Fund and Storm Ventures also participating. Marketo has substantially more working capital to invest in product and operational innovation and expansion than any other company in the RPM market.
- Hosted more than 3,100 prospects, customers and partners for RPM best practices, education and networking during the spring and fall Revenue Rockstar Roadshow Tour in the U.S. and Europe.
- Established the Marketo Community, which, in its first year, grew to nearly 11,000 users, achieved over one million page views, published more than 800 articles, amassed over 900 product ideas, and won recognition as a Forrester Groundswell Award finalist.
- Expanded internationally, appointing former salesforce.com executive Fergus Gloster as managing director of EMEA and opening European headquarters in Dublin.
- Ranked as one of “America’s Most Promising Companies” by Forbes Magazine.
- Recognized as the #1 fastest-growing private company of 2011 by the Silicon Valley Business Journal.
- Awarded the “2011 CRM Market Leaders Award for Marketing Solutions” by CRM Magazine.
Marketo Customers Benefit from Ferocious Pace of Innovation
- Announced Marketo NEXT, a sweeping product release, designed to accelerate customers’ revenue growth by as much as 40 percent in the first year of Marketo product use. With Marketo NEXT, sales and marketing execute as one continuous function; Marketo customers are more agile, more social, more intelligent and more connected than ever before.
- Launched a new version of Revenue Cycle Analytics (RCA) – the first and only product that provides real-time spend-to-bookings reporting across all sales and marketing investments (i.e., campaigns, programs, and teams) so you can see, and maximize, the impact of every dollar spent as often as you want. Marketo RCA customers have a substantial competitive advantage now that marketing becomes transparent and accountable for growing revenues, as is the sales function. Marketo saw a significant jump in RCA billings in 2011 as more customers realized the value of tying marketing spend to bookings growth and enabling marketing/finance leaders to see and adjust spend in real-time across all marketing programs and campaigns.
- Released Spark by Marketo™, a new brand of marketing automation tailored specifically for small businesses – the fastest-growing and largest segment of today’s economy.
- Added integration with a broad range of solutions for managing online events, such as Cisco WebEx, Citrix GoToWebinar, On24 and Adobe Connect.
- Issued a major new release of Marketo Sales Insight to include custom views, manager views and filters that enable team collaboration.
- Expanded social marketing capabilities including sharing landing pages and reporting.
- Increased enterprise capabilities including next-generation APIs and connectors.
- Added out-of-the-box dashboards to compare cost effectiveness and program conversion rates.
Revenue Performance Management (RPM) Defined
Revenue Performance Management (RPM) extends beyond traditional marketing automation and lead nurturing technologies to optimize interactions with buyers across the revenue cycle and accelerate predictable revenue growth. It includes the full range of online and offline customer interaction channels, including web, mobile, social and events. Marketo’s vision is to provide the tools, thought leadership, and best practices to change how marketing and sales work — and work together — to help companies of all sizes accelerate predictable revenue growth.
Marketo is the global leader in Revenue Performance Management. Marketo’s powerful yet easy-to-use marketing automation solutions transform how marketing and sales teams of all sizes work — and work together — to drive dramatically increased revenue performance and fuel business growth. The company’s proven technology, comprehensive services, and expert guidance – in areas ranging from demand generation to lead nurturing – are helping corporations around the world to turn marketing from a cost center to a business-building revenue driver.
As of October 2011, more than 1,350 enterprise and mid-market clients globally have adopted Marketo solutions and in October, Marketo introduced Spark by Marketo™, a new brand of marketing automation tailored specifically for small businesses – the fastest-growing and largest segment of today’s economy.
Marketo was named the fastest-growing private company of 2011 by the Silicon Valley Business Journal, and has also been recognized by CRM Magazine as the “2011 CRM Market Leaders Awards Winner for Marketing Solutions,” the 2010 CODiE award for “Best Marketing Solution,” the “Best Sales and Marketing 2.0 Solution” from SellingPower and the “Best Marketing Automation Application” by Salesforce customers on the AppExchange. For more information, visit www.marketo.com, or subscribe to Marketo’s award-winning blogs at blog.marketo.com.
jen [at] marketo [dot] com