Marketo Momentum Continues with Series C
Mayfield Fund Makes Significant Investment in Marketing Automation Leader
SAN MATEO, CA (September 22, 2009) –
www.marketo.com – Marketo, the revenue-focused marketing automation company, today announced the close of a Series C financing. The significant investment made by venture capital firm Mayfield Fund validates the company’s recent customer success and revenue growth. Mayfield is a top Silicon Valley venture capital firm with over $2.8 billion under management. The company has invested in more than 500 companies including innovators like Atari, Genentech, 3Com and Slide. In conjunction with the financing, Mayfield managing director Robin Vasan has joined the Marketo board of directors.
“Most companies use Google Analytics to understand who’s coming to their web site and Salesforce.com to manage customers, but there is large opportunity to provide the critical bridge between the two: marketing automation,” said Vasan, whose other investments include Alfresco, Webroot and WebMethods. “After reviewing the competitive field, we believe Marketo is in the best position to change the market dynamics. The team has amazing domain expertise and they’ve built an unbelievably slick, powerful and easy to use solution.”
Marketo provides revenue-focused marketing and sales solutions that revolutionize how companies of all sizes sell and succeed at every stage of the revenue cycle. Marketo Lead Management gives marketing the power and flexibility to automate demand generation campaigns and deliver more high-quality sales leads with less effort, and Marketo Sales Insight helps sales reps understand, prioritize and interact with the hottest leads and opportunities to close more business faster.
“We weren’t looking for new money but when presented with the opportunity to accelerate our growth and partner with a great team like Robin and Mayfield, we knew we had to do it,” said Phil Fernandez at President and CEO. “Despite our early success, the market for solutions that improve marketing and sales effectiveness remains nascent. This new funding will allow us to accelerate our vision for the Marketo Revenue Suite, expand our enterprise-class team to better serve a larger portion of the available market, and maintain our high standards for customer service and excellence in cloud-based marketing software.”
Source: Marketo