Marketing-automation company Marketo secures $50 million
Company, whose services include aiding interactions between its customers and their own clients through CRM, says it has now raised $107 million since 2006.
Marketo, a marketing automation and customer relationship management (CRM) company, has raised $50 million in a new round of funding, the company said today.
Marketo provides several marketing-automation services designed for businesses of all sizes. One of the key facets of the company's services is to facilitate interactions between its customers and their own clients through its CRM solutions.
The financing round was led by Battery Ventures. The company's existing investors--Institutional Venture Partners, InterWest Partners, Mayfield Fund, and Storm Ventures--also participated in the round. The cash infusion has brought Marketo's total funding to $107 million since the company was founded in 2006.
Over the last several years, Marketo says, its business has grown rapidly. In 2011 alone, the company said, it has doubled its year-over-year revenue. In the last five years, Marketo said it has been able to attract over 1,350 customers.
Marketo plans to use the new cash in several ways, including to deliver new products and to "look beyond our four walls to complement our own innovation engine."