The Vienna, Va., company, whose customers include Adobe Systems Inc., Dell Inc., American Express Co. and McGraw-Hill Cos., is selling 7 million shares, while selling shareholders not including the financial sponsors led by JMI Equity are unloading 1 million shares.

The company is unprofitable, but its revenue has grown and its IPO comes close on the heels of those of two other tech businesses -- data security provider Palo Alto Networks Inc. and online travel price comparison company Kayak Software Corp. -- both of which staged buoyant debuts in late July. Eloqua, which commenced trading Thursday, listed on the Nasdaq Global Market under the symbol ELOQ.

Net proceeds of about $72 million will be used to pay down a term loan and for working capital and other general purposes. The company has offered the underwriters an option to buy up to an additional 1.2 million shares.

JMI Equity, Bay Partners and Bessemer Venture Partners, holding a combined 79.1% stake before the IPO, are not selling shares. Their stakes will be diluted down to 25%, 18.8% and 15.5%, respectively, assuming full exercise of the greenshoe.

Of the individuals selling shares, Steven K. Woods, one of the founders and chief technology officer since the company was established in 2000, is offering the biggest chunk, selling 300,000 shares.

Eloqua competes in the so-called software-as-a-service segment, providing on-demand marketing automation software that enables users to step up revenue growth and improve revenue predictability by more efficiently managing marketing and sales. Its sales are derived from subscription fees that increase depending on the size of a user's database of potential buyers.

Revenue has expanded from $41 million in 2009 to $50.8 million in 2010 and $71.3 million in 2011, or roughly 24% and 40% year over year, its latest regulatory filings said. For the same periods, it booked net losses of $4.2 million, $1.5 million and $6.2 million.

JPMorgan Chase & Co. leads the underwriters, which also included Deutsche Bank Securities Inc., JMP Securities, Needham & Co. LLC and Pacific Crest Securities.

Goodwin Procter LLP's Christopher J. Austin, David Cappillo and Gregg Katz advised the company.

Latham & Watkins LLP's Rachel W. Sheridan and Brandon J. Bortner represented the underwriters.