Marketo, a provider of marketing automation and Revenue Performance Management (RPM) solutions, reported that it nearly doubled its customer count in 2011, signing 120 new contracts in December alone, and ending the year with 1,578 customers. Additionally, the company said it grew its revenue more than 130% year-over-year and nearly doubled its employee count.
Marketo also reported it closed its largest deal ever in Q4 2011, and posted more than 400% year-over-year growth in its enterprise segment. New Marketo customers added in Q4 included Barnes & Noble College, Chrysler Fleet Division and F5 Networks. The company also hired Doug Grigg as its VP of Enterprise Sales to support its growing enterprise customer base.
“Building on the success of our marketing automation product, our sales effectiveness and analytics solutions achieved record growth; in fact, our analytics solution posted higher sales between the two by the end of the year,” noted Phil Fernandez, CEO of Marketo.
In 2011, Marketo raised $50 million in new capital funding led by Battery Ventures, with existing investors Institutional Venture Partners, InterWest Partners, Mayfield Fund and Storm Ventures also participating.
Marketo also announced several product releases in 2011, including Marketo NEXT, which the company reported helps accelerate customers’ revenue growth by as much as 40% in the first year of Marketo product use. The company also released released Spark by Marketo, a new brand of marketing automation tailored specifically for small businesses.
The company also established the Marketo Community, which, according to Marketo, grew to nearly 11,000 users, garnered more than one million page views, published more than 800 articles, amassed more than 900 product ideas, and was recognized as a Forrester Groundswell Award finalist, in its first year.
Marketo’s Revenue Rockstar Roadshow Tour hosted more than 3,100 prospects, customers and partners for RPM best practices, education and networking, across the U.S. and Europe.