By Adam E. John
Marketo, a provider of Revenue Performance Management (RPM) technology has secured $50 million in new venture financing. Battery Ventures led the round, with existing investors Institutional Venture Partners, InterWest Partners, Mayfield Fund and Storm Ventures also participating. The entirety of the new $50 million investment is primary capital into the company. Marketo will use the infusion of new capital to further its aggressive growth strategy. In total, Marketo has raised $107 million since it was founded in 2006. Also with this new round of financing, Neeraj Agrawal, Battery Ventures general partner, joins Marketo’s board of directors.
So far, the company has more than doubled its revenue, opened its EMEA headquarters in Dublin and launched Spark by Marketo™, an entirely new product solution specifically designed for the SMB sector. The company thinks it can make a $2.5 trillion impact on its customer base over the next three years. As of October 2011, more than 1,350 enterprise and mid-market clients globally have adopted Marketo solutions.