Marketo Adds 150+ Customers in Q3; Grows 122% Year-Over-Year in 2011
- Written by Demand Gen Report Team
- Published in DemandGen Reports
Marketo recently announced record results for Q3 2011, adding more than 150 customers in the quarter and growing revenue by 122% year-over-year. In the quater, Marketo signed customers across numerous industries, including Angel MedFlight Worldwide, Delta Dental of California and Affiliates, Generations Federal Credit Union and Ventana Research. With these new customers included, Marketo reported more than 1,350 customers have now adopted the company’s solutions in three and a half years.
Marketo also has more than doubled its employee count — expanding the number of customer-facing support and service employees by 150% and increasing engineering capacity by more than 50%. In April 2011, the company opened its European headquarters in Dublin, Ireland, to support its growing international customer base. Marketo is on track to more than double its 2010 revenue and has expanded its global staff to more than 200 so far in 2011, according to a company press release.
“We continued to see our business accelerate in Q3, and are more confident than ever that we currently have more customers, and are growing faster than any other vendor in the RPM space,” said Phil Fernandez, President and CEO of Marketo. “Marketo is making our customers wildly successful. That’s why we are laser-focused on continuing to deliver the same high levels of service, innovation and leadership that our customers and partners have grown to expect. We are extremely proud to be at the forefront of the RPM movement and we look forward accelerating growth in this challenging economy.”
In September, Marketo expanded its “Revenue Rockstar Tour,” a 12-city thought leadership educational tour, highlighting the revenue-driving power of marketing. The series shares marketing automation best practices and features, customer case studies, as well as insights from BtoB marketing and sales heavyweights. More than 1,800 people have registered worldwide.
In August, Marketo announced the winners of its first annual Revenue Performance Excellence Awards. The “Revvies” recognize Marketo customers for their outstanding achievements and leadership in revenue performance management through their use of the Marketo platform. Winners of the inaugural awards included: QlikView; Navicure; Egencia; Sourcefire; and Serena Software.
Also in August, Marketo was named the winner of the Marketing Solutions category in CRM Magazine’s 2011 CRM Market Leaders Awards. Additionally, Marketo was selected by Everything Channel as a 2011 CRN Emerging Technology Vendor and was also placed on the “25 Coolest Emerging Vendors” list for 2011.
In other company news, Marketo was recently named one of the Bay Area’s 10 fastest growing privately held companies of 2011 by the San Francisco Business Times. Marketo earned the high ranking based on its revenue from fiscal 2008 to 2010, during which it grew 1,486%. Marketo also was named the number one fastest-growing private company of 2011 by the Silicon Valley Business Journal.