Marketing automation played a key role in Bizo’s growth last year, which could indicate an increase in marketers’ interest in implementing the technology. Bizo announced a $50 million revenue run rate following Q4 2013.
“It used to be that marketing was responsible for the first 10 to 15% of the processes, and then it went over to sales,” says Bryan Burdick, COO and cofounder of Bizo, a business audience marketing company. “Today it’s flipped, and by the time the lead gets to sales the process is already 85% done, putting more pressure on the marketer and necessitating marketing technology.”
According to a company release, much of the company’s growth was driven by Bizo’s marketing automation platform Bizo for Marketing Automation, which the company launched last October. Bizo’s bookings grew to $38.3 million last year, a 75% increase over 2012; 365 companies adopted Bizo’s services last year, including Dropbox, Hyatt, Staples, Tyson Foods, and Volvo. Bizo also announced a 70% increase in its employee base. Additionally, Bizo was named one of America’s most promising companies by Forbes. Bizo for Marketing Automation was named a CODiE finalist.
According to Bizo Cofounder and CEO Russell Glass, the focus of 2013 was to bring new products to market and be more customer-centric. “As we head further into 2014,” he said in a statement, “a key focus will be maintaining our great culture as we hire new talent into the organization to take advantage of the big growth opportunity ahead of us.”