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BtoB

Marketo gains additional $25 million in financing

Published on .

San Mateo, Calif.—Lead management vendor Marketo has secured additional funding of $25 million in a fifth round of financing.

Institutional Venture Partners led the investment round, with participation from previous investors InterWest Partners, Mayfield Fund and Storm Vendors. The new funding will be used to accelerate Marketo's efforts in product and marketing development, according to Marketo.

This latest round of financing follows a $10 million infusion last spring. Marketo, which focuses on the small-to-midsize market, has now raised about $57 million and signed on about750 customers, the company said.

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