Why Put Another $25 Million Into Marketo?

So...our friends at Marketo announced today that they've received another $25 million in venture funding. As one of their competitors snippily commented on Twitter, "Does that make the total $50M or $60M? I lost track."

I've lost track too, but it doesn't really matter. Marketo's strategy has been clear from the start: spend heavily to establish a strong position despite a relatively late start in the market. Of course, it wasn't just a matter of spending (Microsoft Zune, anyone?); they needed a solid product and good marketing as well. On all fronts, Mission Accomplished.

But the question is, what happens now? Obviously Marketo has a plan in mind and has convinced some pretty savvy investors that it makes sense. Presumably they've demonstrated a highly scalable business model that will allow them to take the latest funding and reliably transform it into growth and, eventually, into profits.

I find it a bit surprising that anyone can be $25-million-worth-of-certain about anything in such a young and volatile market, particularly because I still think B2B marketing automation will eventually be absorbed by larger CRM and/or Web content management suites. Certainly Marketo could be acquired by one of those companies but I don't think the price would be high enough to make the VCs happy. And surely they're still some time away from an IPO given what must be seriously money-losing financials to date.

I'm mostly writing this post in the hopes of seeing some helpful comments from others in the industry. Where does this all lead, both for Marketo and its competitors?