- Mirakl — a marketplace SaaS platform that empowers both B2B and B2C organizations to launch and grow an enterprise marketplace at scale — announced that it has raised $300 million in funding
Mirakl — a marketplace SaaS platform that empowers both B2B and B2C organizations to launch and grow an enterprise marketplace at scale — announced that it has raised $300 million in funding led by Permira with participation from long term investors 83North (Laurel Bowden), Bain Capital Ventures (Scott Friend), Elaia Partners (Xavier Lazarus), and Felix Capital (Frederic Court). Including this funding round, the company has raised $400 million, and now the company is valued at more than $1.5 billion. Permira Growth Partner Bruce Chizen, the former CEO of Adobe and Oracle board member, will join Mirakl as an advisor to the Board.
Upon establishing the enterprise marketplace SaaS sector and becoming a clear leader, Mirakl is entering a new phase of hypergrowth to help B2B and B2C organizations seize the platform opportunity. And as platforms are the future of business, traditional businesses and digital natives are investing in digital models at unprecedented levels.
Mirakl already has 11 of the top 40 North American retailers and a growing bench of leading B2B organizations as customers globally. And in the first half of 2020, Mirakl defied the COVID economic slowdown by onboarding 25 new customers and launching 18 new marketplaces.
During the first 6 months of 2020, Mirakl-powered Marketplaces showed resiliency in the midst of the COVID crisis with the support of Mirakl’s technology, generating over $1.2 billion in gross merchandise value (GMV), and demonstrating the agility and scalability of the marketplace model even in the face of global economic disruptions.
This round of funding will enable Mirakl to reinforce its clear leadership, significantly invest in its technology and partner ecosystem, and growing its team to meet the rapid adoption of the marketplace model. The significant areas of investment will include hiring over 300 engineers in the next 3 years to focus on:
1.) Continuously enhancing Mirakl’s product features for improving its offering for the B2C market and address more use cases in B2B commerce requirements
2.) Further developing advanced capabilities to expand the use of artificial intelligence and automation to provide even faster time to market, greater operational efficiency, and robust security for operators and sellers
3.) Extending Mirakl’s platform even further through the continued enhancement and creation of platform APIs and pre-built connectors to marketplace ecosystem technology partners
4.) Expanding the Mirakl Connect ecosystem to realize Mirakl’s vision of becoming the central hub and platform for digital marketplace operators, sellers, and partners
The funding in Mirakl’s continued growth will strengthen its position at the center of the platform economy as the marketplace ecosystem coalesces around Mirakl.
Mirakl’s solution is used by over 300 companies globally. And the company serves a diversified customer base across industries and geographies, including ABB, Astore by AccorHotels, Best Buy Canada, Carrefour, Catch Group, Changi Airport, Darty, Metro, The Kroger Co., Satair, Siemens Mobility, Tetra Pak, Toyota Material Handling, etc.
Over the first half of 2020 — during the COVID crisis — Mirakl-powered Marketplaces generated over $1.2 billion in GMV, representing an 111% year-over-year increase. And this impressive growth underscores how marketplaces provide businesses critical agility to adapt supply during crisis and a scalable and profitable revenue driver through recovery and beyond.
Mirakl was advised by Allen & Company LLC and Julie Herzog (Partner, Peltier Juvigny Marpeau & Associés). And 83North, Bain Capital Ventures, Elaia Partners and Felix Capital were advised by Matthieu Grollemund (Partner, Baker & McKensie). Permira was advised by Weil, Gotshal & Manges LLP, Fried, Frank, Harris, Shriver & Jacobson, RBC Capital Markets, LLC and Eurvad Finance.
KEY QUOTES:
“Mirakl has built an entirely new category, ushering in a platform revolution that is only just beginning. When we founded Mirakl, we envisioned a future where every organization would be able to capture the power of the platform business model. Now, we’re proud to count more than 300 of the world’s most forward-thinking organizations as customers, driving incredible growth and transformation, and we’re just getting started. We are thrilled to have the backing of an experienced partner like Permira. Their investment will support us as we continue to bring our vision of the platform economy to every industry in every corner of the globe.”
— Adrien Nussenbaum, U.S. CEO and cofounder of Mirakl
“Mirakl’s technology is in a category of its own, and the results speak for themselves. It is an honor to support the world’s leading organizations as they invest in the platform model and the future of commerce. We look forward to continuing to do what we do best: investing in the functionality, security, and scalability of our platform, so that our Platform Pioneers can continue to lead in the platform economy.”
— Philippe Corrot, CEO and cofounder of Mirakl
“We have successfully backed disruptive high growth technology companies for years across Permira, particularly in eCommerce and marketplaces, and we are excited to add Mirakl to our existing portfolio of investments in France. We look forward to partnering with Adrien, Philippe and the broader Mirakl team as they continue to expand their offering to clients in the ongoing eCommerce revolution, becoming the central hub and platform for digital marketplace operators, sellers and partners.”
— Alexandre Margoline, Partner and Head of France at Permira
“While the Company has seen outstanding growth in recent years, Mirakl’s powerful technology has just begun to scratch the surface of its potential in B2C and B2B. We are thrilled to lead this investment in the next phase of Mirakl’s evolution.”
— Daniel Brenhouse, Principal at Permira
