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Mirakl

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Mirakl
IndustryComputer software, E-commerce, Internet
Founded2011
FounderPhilippe Corrot, Adrien Nussenbaum
HeadquartersParis, Boston,
Number of locations
12 offices
Key people
Philippe Corrot, Adrien Nussenbaum
ProductsMirakl Marketplace Platform

Mirakl Connect Mirakl Ads

Mirakl Payout
Number of employees
750
Websitemirakl.com

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)
11/16/2022 Serie A $30M Elaia
07/22/2015 Serie B $20M 83North, Felix Capital
02/28/2019 Serie C $70M[24] Bain Capital Ventures
09/22/2020 Serie D $300M[25] Permira > $1.5 bn
09/21/2021 Serie E $555M[26] Silverlake > 3.5 bn
08/01/2023 Debt $100M[27] BNP Paribas, HSBC, Natixis, Société Générale, JP Morgan Chase

Acquisitions

  • In 2021, Mirakl announced the acquisition of Octobat, a French startup specializing in invoice automation for businesses.[28]
  • In 2022, Target2Sell, a French specialist in e-commerce site personalization, was acquired by Mirakl[29].

Customers

Mirakl has set up SaaS marketplace platforms for over 450 companies globally[2][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].

References

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