More than 100 jobs will be created in Dublin over the next three years by Marketo, a revenue and market prediction software company based in Silicon Valley.

Minister for Jobs, Enterprise and Innovation Richard Bruton announced the 125 jobs this morning. Recruiting has begun for graduates, for sales, marketing, support, consulting, development and back office positions.

Marketo, which had sales growth of 300 per cent last year, specialises in revenue-performance management, which enables marketing teams to harness the new ways customers buy online using website and social media.

A spokesman for the Minister said the industry – known as cloud computing – could employ 8,600 people and be worth half a billion euro by 2014.

Phil Fernandez, president and chief executive of Marketo, said Ireland was selected because the company needed a European hub with a large talent pool of skilled people. "Ireland has built a great reputation as a centre for software- as-a-service companies. We look forward to expanding operations in EMEA and support our swiftly growing international customer base from Dublin."

Marketo has appointed Irishman Fergus Gloster as managing director for Europe. Mr Gloster was one of the co-founders of salesforce.com in Europe and headed the company's European corporate sales centre in Dublin between 2000 and 2009.

The announcement was welcomed by IDA Ireland chief executive Barry O'Leary, who said it was "a great win for Ireland".