Acquisition fortifies Marketo’s sales and marketing unification strategy and portfolio
In an interview with us, Jon Miller mentioned why the company he founded in 2006 is more like a “fishing net” for marketers. Today, the net just got bigger, stronger and ready to be cast wider!
Barely days ahead of its marquee event — Marketing Nation Summit, Marketo, Inc., has announced that it has acquired ToutApp, a leading sales engagement software company based in San Francisco. The latest acquisition puts the leading marketing automation software company in a commanding position in technology unification for sales. ToutApp is Marketo’s fifth acquisition, and it comes nearly two years after it acquired Vessels in May 2015.
As CMOs look for more unified automation software for marketing, sales, and advertising, Marketo’s latest catch is a clear indication about where martech landscape is heading to in next 2-3 years. Steve Lucas, CEO of Marketo, says, “Brands that win today engage customers in a meaningful way at every step of the journey and this requires coordinated execution across the entire enterprise, particularly within sales and marketing.”
Anthony Reynolds, CEO of Altify mentioned to us how marketing plays a key role in enabling sales people to have the right messages for the right business problem at the right time. Sean Burke, CEO of KiteDesk put the landscape in perspective perfectly, when he affirmed the need to have a similar approach towards marketing and sales technologies. Burke says–
“Almost across the board, we are hearing that it all starts with Accounts. CMO’s are recognizing that marketing and sales need to align at the account level to make sure they are executing consistently with branding and messaging.”
I recall Sean Burke’s interview with us when he said-
“We need to be able to see what’s happening throughout the lifecycle of the interests of clients and right now…Technology is being built for marketing OR sales, vs. being built for marketing AND sales”
ToutApp provides sales teams with sales campaign, content management, and analytics software to engage prospective customers in a personalized way to drive revenue growth. Founded in 2011, ToutApp raised $21.48 million from five rounds of funding, including investment from Andreessen Horowitz who led the $15 million Series B in 2015.
“I’m thrilled to welcome TK and his team at ToutApp to Marketo, where together, we’ll enable marketing and sales teams to drive revenue and demand seamlessly.” – Steve Lucas, CEO at Marketo.
Since its inception, Marketo has focused on bringing sales and marketing together around customer engagement. ToutApp’s solutions, together with Marketo’s Engagement Platform, enable marketing to partner even more closely with sales to listen, learn, and engage with customers and prospects at scale across all channels and touchpoints.
“ToutApp and Marketo share a similar vision for empowering sales and marketing teams for success in the Engagement Economy,” said Tawheed (TK) Kader, founder and chief executive officer, ToutApp. “We’re excited to join Marketo and further our shared mission of delivering exceptional customer and prospect engagement.”
We have interviewed CMOs and CEOs from the martech space who acknowledge the phenomenal pace at which marketing automation is moving. The convergence of marketing and sales with ABM, AI, and predictive analytics is no longer a matter of how, but when. Obviously, Marketo’s latest acquisition is a milestone of galactical order in that direction.
Marketo bolstered its focus on sales and marketing alignment late last year with the launch of Marketo Account-based Marketing (ABM), which brings revenue teams together to discover, manage, engage, and analyze key accounts in a highly coordinated fashion. ToutApp will further enrich the company’s portfolio of solutions for aligning sales and marketing, complementing Marketo ABM and Marketo Sales Insights (MSI).
More than 100,000 salespeople and over 400 enterprise customers, including Citrix, GE, CA Technologies, Siemens, Revel, Tableau, and Concur, are already using ToutApp for sales engagement.