Marketo’s Jon Miller Raises $22 Million Series B for Martech Venture Engagio
B2B marketing automation software company Engagio announced this week that it has raised $22 million in Series B financing, led by Norwest Venture Partners, with participation from FirstMark Capital and Storm Ventures.
Engagio was founded in 2015 by Jon Miller, who was formerly co-founder and VP of marketing at Marketo, a top marketing software company that went public in 2013. Several members of the Engagio executive team followed Miller from Marketo, including VP of Sales Ray Carroll and VP of Product/UX Glen Lipka. According to the company website, Engagio attracted more than 50 clients within ten months of launching. Its current customers include VMware, New Relic, Hearsay and VersionOne.
As Miller wrote in a company blog announcing the funding, Engagio pioneered what he calls the “Account-Based Everything” model. Account-Based Everything is an extension of Account-Based Marketing (ABM), a popular approach in the B2B sales and marketing world. With ABM, marketers drive sales by developing multiple contacts involved in decision-making within a given account, instead of pursuing only individual sales leads. According to the company, its platform brings a new level of coordination and synchronization to multi-pronged sales efforts, helping make ABM sales and marketing more organized and effective.
“To really reach out to a target account, you need a 1:1 human connection, which is key to success in sales,” Miller explained in the blog post. “That’s why we’re so excited to focus not just on ABM but on Account Based Everything – a strategic go-to-market approach that orchestrates personalized marketing, sales, and success efforts to land and expand named accounts.”
As one customer commented in a testimonial, “We have an account-based strategy, but, before Engagio, we struggled to create a consolidated view across sales and marketing into all interactions within our target accounts. But now, Engagio aligns our activity so the entire go-to-market team can see exactly what is happening across each and every account.”
“The Engagio team has used its deep Account Based Marketing expertise to create an account-based everything approach that is truly making a difference for B2B companies,” said Sean Jacobsohn, partner at Norwest Venture Partners. “Engagio is empowering its customers to identify and focus their selling efforts on high-value accounts by involving everyone who plays a part in the customer journey.”