Marketo reports rapid growth in second quarter

27 Jul 2011

Marketo, an emerging, high-growth cloud company which is based in Silicon Valley, has added more than 170 customers in the second quarter and grew revenue 140pc year-over-year.

It continued to build momentum with large enterprises, securing several Fortune 500 companies as new customers this quarter.

Marketo has developed software to help companies harness the new ways customers buy online. So far, it has raised in the region of $57m in funding.

“This was a banner quarter for Marketo across all aspects of the business. We’re continuing to grow aggressively, both in terms of year-on-year revenue and overall customer acquisition. In fact, we added more new customers in June than in any previous month in our history,” said Phil Fernandez, president and CEO of Marketo.

“Underscoring our dramatic growth, we also launched significant new products, added new senior management and opened our European headquarters (in Ireland). These achievements validate Marketo’s unique ability to transform how companies accelerate revenue worldwide.”

New product release

In May, Marketo announced a new product release, Marketo NEXT, designed to accelerate customers’ revenue growth, usually by 40pc, and in June, it announced a strategic partnership with ExactTarget, a provider of on-demand email marketing solutions, to integrate Marketo’s revenue performance management (RPM) solution with ExactTarget’s Interactive Marketing Hub.

This partnership enables users to access Marketo’s full lead management functionality directly from the Interactive Marketing Hub, allowing marketers to plan, power, monitor and track Marketo RPM campaigns alongside ExactTarget-powered email, mobile, social media and web campaigns.

Photo: Fergus Gloster, Marketo’s managing director of EMEA, appointed in April