- According to the CMO Council’s 2011 State of Marketing report, global marketing and communications spending exceeds $1.5 trillion annually.
- Gartner estimates that, in aggregate, marketing automation and related software represents a $32 billion market in 2013 that will grow to nearly $41 billion by 2016.
- The marketing automation space is heating up with huge acquisitions and IPOs; Oracle picked up Eloqua back in February for $871 million.
As reported earlier this month, Marketo — the cloud-based marketing automation software provider and Under the Radar alumni from 2009 — intends to make it even bigger with an upcoming $75 million IPO.
Marketo has seen rapid growth since its founding in 2007. Revenue climbed from $14 million in 2010 to $32 million in 2011 and $58 million in 2012. The additional IPO capital will go towards expanding the marketing application portfolio and increasing sales and marketing firepower—and servicing its 2,000+ customers, including CenturyLink, Citrix, Gannett, General Electric, Medtronic, Moody’s, and Panasonic.
While Marketo was much smaller when CEO Phil Fernandez presented at Under the Radar 2009 it had a grand vision: to completely transform the entire sales and marketing organization into a lean, mean, revenue-generating machine. If their recent success is any indicator, they’ve achieved it.
Marketo isn’t alone: dozens of Under the Radar companies have IPO’d. More than a 25% are acquired. And Under the Radar alumni companies have raised more than $3.5B in capital in the past three years alone.
Will you be at Under the Radar 2013 to meet the founders of the companies preparing to go public in 2015 and beyond?