With a valuation exceeding $ 3.5 billion, New Funding Extends Mirakl’s Leadership in Enterprise Markets Category Amid Explosive Growth of E-Commerce and Platform Business Model
PARIS and BOSTON, September 21, 2021 / PRNewswire / – Mirakl, the industry’s first and most advanced enterprise marketplace SaaS platform, today announced that the company has grown $ 555 million in a Series E funding round led by Silver Lake, with participation from long-term investors 83North, Elaia Partners, Felix Capital and Permira. The new financing brings the valuation of the company to more than $ 3.5 billion.
Mirakl’s valuation has more than doubled since its $ 300 million The Series D round of funding announced on September 22, 2020 and led by the Permira Growth Fund. The company is poised to accelerate its rapid growth through the continued adoption of its flagship enterprise market platform that is already fueling billions of gross goods value (GMV) and delivering speed, scalability and agility to over 300 of the world’s biggest brands, including ABB, Accor, Airbus Helicopters, Carrefour, Express, Leroy Merlin, The Kroger Co. and Toyota Material Handling.
Large companies across all industries continue to transform their businesses and digitize rapidly in response to growing pressures from growing customer demand, falling margins, and competition from digital giants and digital natives. The result has been a sharp acceleration in the adoption of platforms and e-commerce. According to McKinsey, e-commerce penetration in the United States has seen 10 years of growth in the first three months of 2020. A disproportionate share of that growth has gone to corporate marketplaces: During the fourth quarter of 2020, marketplaces have grown by more than double the overall rate of e-commerce. This growth has proven resilient, with Mirakl recording 90% year-over-year growth in bookings value in the first half of 2021.
This funding will allow Mirakl to strengthen its clear leadership in corporate marketplaces, continue to invest significantly in its technology, expertise and partner ecosystem, and develop its teams to help respond to the need. accelerated adoption of the marketplace model.
Areas targeted for investment include:
Hiring 350 engineers, bringing the Mirakl Labs team to 500, by 2023 to extend the end-to-end capabilities, scalability and security of its core technology from the Mirakl Marketplace platform, with a special focus on expanding AI, automation and features that enable new complementary business models, including the expansion of dropshipping
Doubling the size of its leading customer success organization with top talent from elite market operators and industry leaders to support customers from business case to marketplace at scale
Rapidly increase the size of Mirakl Connect, the largest ecosystem of high-quality, market-ready vendors, enabling any leading company to accelerate its launch and expand its assortment faster for the benefit of its customers
Continue to expand its geographic reach, with the dual objective of developing its Paris and Boston headquarters and increase its presence in the main markets of the EMEA region, the Americas and Asia Pacific
Evaluate and pursue business development opportunities, including compelling acquisition opportunities, in the service of ever greater market success for clients
“The world has irreversibly turned to e-commerce, and the enterprise market model has clearly emerged as the only solution that will allow businesses to survive in a competitive global sales environment,” said Adrien Nussenbaum, co-CEO and co-founder of Mirakl. “Mirakl has clearly proven that it offers the most advanced, flexible and scalable platform for businesses to win against their competitors and take advantage of the growth offered by the free market economy. This investment will allow us to seize new growth opportunities as we work to bring our company’s market vision to new customers, regions and industries. “
As the needs of buyers have changed dramatically over the past 18 months, businesses across industries have been forced to keep pace with supply chain disruptions, product shortages and unpredictable buyer behavior. Mirakl’s customers were well positioned to succeed in this environment, as the scale and flexibility of marketplaces powered by Mirakl allowed them to rapidly expand product assortments and meet increased demand without the burden of inventory. clean. With businesses struggling to keep pace with the acceleration of e-commerce, the enterprise market has become imperative for sustainable business transformation.
“When we founded Mirakl, it was with the belief that the world was heading into an era of customer centricity, which would shatter traditional business models and force leaders to transform to offer their customers more choice, more of services and the ability to buy anytime. they wanted and where they wanted. It was an ambitious vision, and we took bold steps to pursue it, always in partnership with our customers, “said Philippe Corrot, CEO and co-founder of Mirakl. “With this investment, Mirakl is better equipped than ever to support customers every step of the way in their transformation journey, with cutting-edge technology, expertise and ecosystem, so they can win in this challenging new business landscape. . “
“For more than two decades, Silver Lake has successfully identified and supported many of the world’s most disruptive tech and technology companies, and we are delighted to partner with Mirakl as it enters its next phase of growth,” said declared Christian lucas, Managing Director and Co-Head of Silver Lake EMEA. “It’s an extraordinary time for e-commerce, and we see Mirakl as a generational company with a unique and compelling opportunity to capitalize on this momentum. at the heart of what we do, and we feel privileged and look forward to working with Philippe, Adrien and the entire Mirakl team to extend the company’s global leadership position at this pivotal time. “
“Mirakl’s exceptional growth over the past year has strengthened its status as the clear market leader in the Enterprise Markets category,” said Alexandre Margoline, partner and head of France in Permira. “As an existing investor, Permira is delighted to significantly increase its investment in Mirakl and continue to support Philippe, Adrien and the entire Mirakl team as they advance the company’s growth ambition. “
The latest market insights and views can be found on the Mirakl Blog. For more business developments and updates, follow Mirakl on LinkedIn, Twitter, and Youtube.
Mirakl offers the industry’s first and most advanced enterprise market SaaS platform. With Mirakl, organizations in the B2B and B2C industries can launch markets faster, grow and operate with confidence, as they exceed increasing customer expectations. Platforms are the new competitive advantage of e-commerce, and the world’s most trusted brands choose Mirakl for its complete solution of technology, expertise and the Mirakl Connect ecosystem to unleash the power of the platform’s business model. shape for them. As a result, companies like ABB, Astore by AccorHotels, Best Buy Canada, Carrefour, Catch Group, Changi Airport, Darty, The Kroger Co., Leroy Merlin, Maisons du Monde, Metro and Toyota Material Handling are gaining speed, scale and agility to establish themselves in the changing landscape of electronic commerce. For more information, visit www.mirakl.com.
About Silver Lake
Silver Lake is a global technology investment firm, with more than $ 88 billion in combined assets under management and in committed capital and a team of professionals based in North America, Europe and Asia. The companies in the Silver Lake portfolio collectively generate more than $ 221 billion annual turnover and employs more than 526,000 people worldwide. For more information on Silver Lake and its portfolio, please visit http://www.silverlake.com.
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