Mirakl Explained

Mirakl
Foundation:2011
Founder:Philippe Corrot, Adrien Nussenbaum
Location:Paris, Boston,
Num Locations:12 offices
Industry:Computer software, E-commerce, Internet
Key People:Philippe Corrot, Adrien Nussenbaum
Products:Mirakl Marketplace PlatformMirakl ConnectMirakl AdsMirakl Payout
Num Employees:750

Mirakl is a cloud-based e-commerce software company jointly headquartered in Paris, France and Boston, Massachusetts.[1] It provides online marketplace software to retailers, manufacturers and wholesalers.

History

Co-founders Philippe Corrot and Adrien Nussenbaum met in 2004 and founded Splitgames, a B2C e-commerce marketplace, together in 2006. Splitgames was acquired by Fnac, a French retailers specialized in electronics and cultural goods in November 2008. Philippe Corrot and Adrien Nussenbaum then worked to develop Fnac's Marketplace activity, leading it for three years. They left Fnac and created Mirakl in 2012.[2]

In 2013, Mirakl opened its first UK office.[3] Mirakl launched its Boston-area headquarters in 2015.[4]

In 2019, Mirakl launched Mirakl Connect, a platform to connect the marketplace ecosystem.[5]

In 2020, Mirakl was first included in the Next40 Index by the French Tech Mission in 2020, following a $300 million funding round that made it the 10th French unicorn.[6] The same year, Mirakl launched 66 new online marketplaces, including platforms for Carrefour, H&M, Decathlon, and Kroger.[7] [8] [9] The company launched its StopCovid19.fr platform to help distribute Personal Protective Equipment to combat the COVID-19 pandemic. This included delivering 300,000 liters of hand sanitizer and 320,000 face masks in less than a week.[10] Ahold Delhaize announced that it would launch its digital marketplace at the beginning of 2021 using Mirakl’s software platform.[11]

In 2021, it carried out the second-largest funding round in France, raising $555 million with a valuation exceeding $3.5 billion,[12] and acquired Octobat, a specialist in invoice automation.[13] The same year, Hudson's Bay partnered with Mirakl to launch its new third-party online marketplace on TheBay.com.[14] In April, United Natural Foods partnered with Mirakl to develop North America’s first online wholesale food marketplace.[15] .In May 2021, Mirakl announced the release of new features, including categorization AI, unified dropship operations, and streamlined B2B selling.[16] L'Oréal’s SalonCentric rolled out a new e-commerce marketplace in June using Mirakl’s Marketplace Platform,[17] and Debenhams did the same in October.[18] In November 2021, Macy’s, Inc. announced that it will partner with Mirakl to launch an online marketplace at macys.com and bloomingdales.com.[19]

In 2022, it acquired Target2Sell, a company specializing in e-commerce site personalization, and launched its Mirakl Payout product.[20]

In 2023, Mirakl generated over $8.6 billion in business volume on its platforms[21] and announced the launch of its Retail Media product (advertising on e-commerce sites), relying in particular on a partnership with Havas.[22] The same year, the company unveiled its new Boston offices located on100 Summer Street.[23]

Fundraisings and valuation

!Date!Serie!Fundraising (million USD)!Lead Investor!Valuation (billion USD)
11/16/2022Serie A$30MElaia
07/22/2015Serie B$20M83North, Felix Capital
02/28/2019Serie C$70M[24] Bain Capital Ventures
09/22/2020Serie D$300M[25] Permira> $1.5 bn
09/21/2021Serie E$555M[26] Silverlake> 3.5 bn
08/01/2023Debt$100M[27] BNP Paribas, HSBC, Natixis, Société Générale, JP Morgan Chase

Acquisitions

Customers

Mirakl has set up SaaS marketplace platforms for over 450 companies globally[30] including: Carrefour,[31] Conrad Electronics;[32] Toyota Material Handling,[33] Astore by Accor, Kroger,[34] H&M,[35] Best Buy Canada, L'Oréal,[36] Galeries Lafayette,[37] Urban Outfitters,[38] Decathlon,[39] United Natural Foods, Hudson's Bay,[40] Ahold Delhaize,[41] Debenhams[42] and J. Crew.[43]

Notes and References

  1. Web site: Software startup plans to add at least 250 jobs in Mass. after $300M funding round. Boston Globe. September 23, 2020. on Chesto. April 29, 2022.
  2. Web site: Mirakl Achieves Unicorn Status By Helping Companies Become Like Amazon. Forbes. May 19, 2021. Bruce Rogers. January 21, 2022.
  3. Web site: Mirakl appoints Daniel Thompson to help meet demand for online marketplace platforms from UK retailers. Retail Times. November 18, 2014. Fiona Briggs. April 29, 2022.
  4. Web site: 'French online marketplace vendor, Mirakl, sets sights on US retailers and opens Boston office. Retail Times. June 19, 2015. Fiona Briggs. April 29, 2022.
  5. Web site: 2019-06-05 . Mirakl lance Mirakl Connect pour mettre en relations les acteurs des marketplaces . 2024-07-29 . www.journaldunet.com . fr.
  6. Web site: Dillet . Romain . 2020-09-22 . Mirakl raises $300 million for its marketplace platform . 2024-07-29 . TechCrunch . en-US.
  7. Web site: Are Third-Party Marketplaces the Growth Driver Legacy Retail is Looking for?. Retail Touch. May 27, 2021. Nicole Silberstein. March 11, 2022.
  8. Web site: Mounting Marketplaces: Game Changers, but No Slam Dunk. WWD. May 17, 2021. David Moin. March 11, 2022.
  9. Web site: Mirakl Exceeds $100 Million in Annual Recurring Revenue in 2021. Tame Bay. February 10, 2022. March 11, 2022.
  10. Web site: 2020-04-02. 'Amazon of coronavirus' app sends critical supplies to hospitals within 24 hours. https://ghostarchive.org/archive/20220515/https://www.independent.co.uk/life-style/gadgets-and-tech/news/coronavirus-face-mask-amazon-app-covid-19-mirakl-a9441851.html . 15 May 2022 . subscription . live. 2020-09-20. The Independent. en.
  11. Web site: Ahold Delhaize lays out omnichannel updates to keep 2020 growth going long term. Grocery Dive. November 4, 2020. Jeff Wells. March 11, 2022.
  12. Web site: Subscribe to read . 2024-07-29 . www.ft.com.
  13. Web site: PYMNTS . 2021-11-09 . Mirakl Acquires Octobat to Enhance Invoice Compliance . 2024-07-29 . PYMNTS.com . en-US.
  14. Web site: David Moin . March 19, 2021 . Hudson's Bay Launches an Online Marketplace . March 11, 2022 . WWD.
  15. Web site: Russell Redman . April 7, 2021 . UNFI launches online wholesale digital marketplace . April 29, 2022 . Supermarket News.
  16. Web site: Chris Dawson . May 5, 2021 . Mirakl dropship capabilities added to marketplace platform . February 10, 2022 . Tame Bay.
  17. Web site: Dan Berthiaume . June 2, 2021 . L'Oreal subsidiary adapts online marketplace model for salon pros . February 10, 2022 . CSA.
  18. Web site: boohoo taps Mirakl tech for Debenhams online marketplace push . February 10, 2022 . RTIH. 5 October 2021 .
  19. Web site: Lauren Thomas . November 18, 2021 . Macy's shares surge on upbeat earnings, decision to hire AlixPartners to review business . February 10, 2022 . CNBC.
  20. Web site: Lucas . Peter . 2022-05-02 . Marketplace firm Mirakl acquires AI platform Target2Sell . 2024-07-29 . Digital Commerce 360 . en-US.
  21. Web site: Demery . Paul . 2024-02-12 . Marketplace technology firm Mirakl reports surging sales . 2024-07-29 . Digital Commerce 360 . en-US.
  22. Web site: Mirakl, Havas to expedite ecommerce and retail media growth . 2024-07-29 . thepaypers.com . en.
  23. Web site: https://www.bizjournals.com/boston/news/2023/10/19/mirakl-new-office-boston-hiring-ipo.html?utm_source=sy&utm_medium=lsyp&utm_campaign=nbcboston&utm_content=nbcboston . 2024-07-29 . www.bizjournals.com.
  24. Web site: Wiggers . Kyle . 2019-02-28 . Mirakl raises $70 million to facilitate ecommerce sales with software . 2024-07-29 . VentureBeat . en-US.
  25. Web site: Dillet . Romain . 2020-09-22 . Mirakl raises $300 million for its marketplace platform . 2024-07-29 . TechCrunch . en-US.
  26. Web site: Dillet . Romain . 2021-09-21 . Marketplace platform Mirakl raises $555 million at $3.5 billion valuation . 2024-07-29 . TechCrunch . en-US.
  27. Web site: PYMNTS . 2023-08-01 . SaaS Firm Mirakl Gets $110 Million to Fund M&A Plans . 2024-07-29 . PYMNTS.com . en-US.
  28. Web site: PYMNTS . 2021-11-09 . Mirakl Acquires Octobat to Enhance Invoice Compliance . 2024-07-29 . PYMNTS.com . en-US.
  29. Web site: Lucas . Peter . 2022-05-02 . Marketplace firm Mirakl acquires AI platform Target2Sell . 2024-07-29 . Digital Commerce 360 . en-US.
  30. Web site: Mounting Marketplaces: Game Changers, but No Slam Dunk. WWD. May 17, 2021. David Moin. January 21, 2022.
  31. Web site: Silberstein . Nicole . 2021-05-27 . Are Third-Party Marketplaces the Growth Driver Legacy Retail is Looking for? . 2024-07-29 . Retail TouchPoints . en-US.
  32. Web site: Taylor . Glenn . 2017-07-18 . Conrad Electronic Launches First B2B Marketplace . 2024-07-29 . Retail TouchPoints . en-US.
  33. Web site: Selko . Adrienne . 2020-07-16 . Toyota Material Handling's E-Commerce Strategy Paying Off . 2024-07-29 . Material Handling and Logistics . en.
  34. Web site: Silberstein . Nicole . 2021-05-27 . Are Third-Party Marketplaces the Growth Driver Legacy Retail is Looking for? . 2024-07-29 . Retail TouchPoints . en-US.
  35. Web site: Silberstein . Nicole . 2021-05-27 . Are Third-Party Marketplaces the Growth Driver Legacy Retail is Looking for? . 2024-07-29 . Retail TouchPoints . en-US.
  36. Web site: 2021-06-02 . L'Oreal subsidiary adapts online marketplace model for salon pros . 2024-07-29 . Chain Store Age . en.
  37. Web site: Masters . Kiri . The Company That's Saving Retailers During The Pandemic By Launching Their Online Marketplaces . 2024-07-29 . Forbes . en.
  38. Web site: Waters . Michael . 2021-04-14 . 'This is not pandemic boredom': Retailers are increasingly launching their own third-party marketplaces . 2024-07-29 . Modern Retail . en.
  39. Web site: Moin . David . 2021-05-17 . Mounting Marketplaces: Game Changers, but No Slam Dunk . 2024-07-29 . WWD . en-US.
  40. Web site: Silberstein . Nicole . 2021-03-24 . Hudson's Bay Forecasts 500+ Sellers This Year For New Third-Party Marketplace . 2024-07-29 . Retail TouchPoints . en-US.
  41. Web site: Ahold Delhaize lays out omnichannel updates to keep 2020 growth going long term . 2024-07-29 . Grocery Dive . en-US.
  42. Web site: Smith . Sophie . 2021-10-06 . Debenhams launches major new online marketplace with Mirakl . 2024-07-29 . TheIndustry.fashion . en-GB.
  43. Web site: D'Ambrosio . Daniel . It's A Mirakl! You Can Have Your Own Amazon-Style Website Thanks To This Global Company . 2024-07-29 . Forbes . en.