Software maker Marketo hires banks for Q3 IPO - sources

Fri Jan 25, 2013 4:40pm EST

Jan 25 (Reuters) - Enterprise software company Marketo has hired banks for an initial public offering that could come in the third quarter of this year, according to two sources familiar with the matter.

The San Mateo, California-based company, which competes with companies like Eloqua, has hired Goldman Sachs Group Inc and Credit Suisse AG to lead the offering.

The company could look to raise around $100 million, two of the sources said.

Marketo and Goldman Sachs could not be reached for comment. Credit Suisse declined to comment.

Marketo investors include Institutional Venture Partners, InterWest Partners, Mayfield Fund, Storm Ventures and Battery Ventures. The company has already raised more than $100 million in venture funding.

Business software companies like Workday Inc and Guidewire Software Inc have performed well in the public markets, while consumer Internet companies like Groupon Inc and Zynga Inc have struggled.