Marketo Closes Record Quarter – Adds More Than 170 Customers, Grows Revenue 140 Percent Year-Over-Year
Leader in Revenue Performance Management Gains Momentum with Major Product Release, Key Management Additions and New Partnerships
SAN MATEO, Calif. (July 26, 2011) – Marketo, the fastest-growing provider of Revenue Performance Management solutions, today announced record results in Q2 2011. The company added more than 170 customers in the quarter and grew revenue 140 percent year-over-year. It continued to build momentum with large enterprises, securing several Fortune 500 companies as new customers this quarter. Marketo also logged a record quarter for its Revenue Cycle Analytics product introduced last fall, growing far faster than the company’s overall growth rate.
“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. These achievements validate Marketo’s unique ability to transform how companies accelerate revenue worldwide.”
Key highlights from the quarter include:
Continued Customer Momentum: In the second quarter of 2011, Marketo signed more than 170 customers large and small, including Enterasys, ExactTarget, Eventbrite and InsideView. Customers using Marketo report increased sales effectiveness and lead flow, streamlined marketing automation initiatives, and improved productivity – all impacting marketing ROI and accelerating revenue growth throughout their organizations.
Release of Marketo NEXT: In May, Marketo announced a sweeping new product release, Marketo NEXT, designed to accelerate customers’ revenue growth, usually by 40 percent. The release helps companies deliver marketing programs that are more agile, more social, more intelligent and more connected than ever before. As part of the launch effort, Marketo also surveyed 250 customers to quantify the global impact of its Revenue Performance Management solutions. The global study of its customers revealed that RPM improves lead-to-opportunity conversion by an average of 46 percent, improves opportunity-to-win ratio by 17 percent, increases average contract value by 12 percent and reduces customer acquisition costs by 15 percent.
Marketo Partnership with ExactTarget: Last month, Marketo announced a strategic partnership with ExactTarget, a leading provider of on-demand email marketing solutions, to integrate Marketo’s Revenue Performance Management solution with ExactTarget’s Interactive Marketing Hub™. Developed as the first partner application for the 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.
Global Expansion: To support its swiftly growing international customer base, Marketo appointed Fergus Gloster, the former senior vice president of EMEA sales and a founding director of salesforce.com’s European operations, as Marketo’s managing director of EMEA in April. The company also announced the opening of its European headquarters in Dublin, Ireland and showed immediate results, signing several new customers during the quarter, including eSpatial and Antivia, and adding top-tier talent in technical support, sales, marketing and operations.
Additionally, Marketo signed several new deals in Australia through partner Datarati, including Macquarie Telecom, Navitas and Flight Centre.
Expanded Executive Leadership Team: Former Webroot Chief Financial Officer Fred Ball joined Marketo’s executive team as CFO in May. He is focused on advancing the company’s operational and financial excellence as it continues to accelerate growth and scale internationally. Ball brings more than 20 years of experience in financial operations and corporate finance to Marketo.
Patricia Lughezzani also joined Marketo as vice president of customer support. She leads the global expansion of Marketo’s support operations, rolling out support enhancements and leveraging Marketo’s Community and other self-service channels to drive continuous improvement of support offerings. Patricia was most recently vice president of global customer support at SumTotal Systems, and previously served in leadership positions at Business Objects and Vantive/PeopleSoft.
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.
About Marketo
Marketo is the global leader in Revenue Performance Management. Marketo’s powerful yet easy-to-use marketing automation and sales effectiveness 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 are helping corporations around the world to turn marketing from a cost center to a business-building revenue driver.
Marketo has been recognized with 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. As of March 2011, more than 1000 enterprise and mid-market clients globally have adopted Marketo solutions. For more information, visit http://www.Marketo.com, or subscribe to Marketo’s award-winning blogs at http://blog.marketo.com/.
Source: Marketo
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