According to a recently published report, the Global Digital Marketing Software Market is expected to grow 13% annually over the next five years to reach $77.4 billion by 2023. The growth is expected to be driven by the increased focus on personalized marketing and continued adoption of mobile devices. Billion Dollar Unicorn player Marketo is a leading player in the digital marketing segment.

Marketo’s Offerings

Marketo was founded in 2006 by Phil Fernandez who wanted to create a high-velocity SaaS company that focused on Lead Nurturing. Phil wanted to create a company that would democratize the CRM process and make an organization’s sales team at least five times more effective, and drive 40% growth in revenues through Lead Nurturing. He was convinced that Lead Nurturing is a democratize the CRM process and make an organization’s sales and has a life starting from the date the marketer meets a potential customer till the time the customer is ready to buy.

Initially, Marketo did not have much to sell. But it attracted customers by providing high-quality content on blog posts, whitepapers, and research notes that motivate people to register and give the team their contact information. It followed content and social media driven marketing strategies even after the product was released.

Today, Marketo provides a complete range of marketing automation software solution that can be utilized by both SMBs and global enterprises. It calls itself a company that was built BY marketers FOR marketers. Its lineage has helped it design products that cater to all that a marketer needs to deliver more sales leads efficiently. Its services include inbound marketing, lead management, social marketing, event management, instant CRM integration, sales dashboards, and marketing ROI reporting and analytics.

Marketo’s Financials

Marketo was initially venture funded and it raised $108.4 million from investors including InterWest Partners, Institutional Venture Partners, Storm Ventures, Mayfield Fund, and Battery Ventures. It listed on the Nasdaq in 2013 by raising $75 million before being acquired in 2016 by Vista Equity Partners for $1.8 billion. During its short duration of being a listed company, the stock’s market capitalization had peaked at $1.9 billion.