Marketo, a provider of revenue performance management solutions, has secured additional funding to fuel its growth.
Institutional Venture Partners, which has also funded Netflix, Twitter and Zynga, led the USD25m investment with participation from previous investors InterWest Partners, Storm Ventures, and Mayfield Fund.
The new funding will be used to further accelerate Marketo’s product, technology, and market development initiatives.
“We are thrilled to be partnering with a top-tier venture firm like IVP,” says Phil Fernandez, president and chief executive of Marketo. “We have more customers, more and better products, and faster growth than anyone else in our category. Now, with this major investment from IVP – the venture firm known for picking the winners in their category – we also have the most resources at our disposal to invest in our growth and our customers’ success.”
In conjunction with the financing, IVP general partner Norm Fogelsong has joined the Marketo board of directors.
“We are very pleased to welcome Marketo to IVP’s portfolio of exceptional technology and media companies,” says Fogelsong. “In just a few short years, Marketo has vaulted to its market-leading position by literally revolutionizing how companies manage their most important function: driving and optimising revenues. With this investment, along with the insights and contacts that we can provide, IVP looks forward to helping Marketo accelerate its growth and industry leadership.”
