Almost 8 years ago today, we were having lunch in a little Parisian bistro and started discussing our next professional adventure. It actually sounds a bit odd to add “professional” because starting a company goes so far beyond professional, it is truly a life adventure. At the time we were successfully leading Fnac’s marketplace and after 6 years of building and running high impact online marketplaces we were convinced that this new business model was going to dramatically impact distribution value chains and customer experience. After 8 wonderful years, we are proud to announce that Mirakl has raised $70M in Series C funding led by Bain Capital Ventures, with participation from existing investors 83North, Felix Capital and Elaia Partners.
We often get the question how we came up with the name Mirakl. Well, it was quite simple. We decided that day we would build the best platform ever built, making launching and running a successful marketplace easier than ever. It could only be a miracle!As we reflect on the last 7 years since Mirakl’s official launch we are thrilled to see what the team has accomplished:
Against all odds we turned our vision into reality: marketplaces are dominating B2C and B2B commerce, and Mirakl is a key reason for that change
With more than 200 people (and soon 300) the Mirakl family has grown into a tribe spreading the word and sharing unique expertise across the globe
We transformed a French company into a global player, settling in Boston, London, Munich, Barcelona, Stockholm, and São Paulo
Our innovative and performant technology is now used by more than 200 companies globally, including some of the world’s largest and most successful businesses
We are positively impacting buying experiences every second, helping create new jobs, allowing challenged incumbents to innovate and transform their business into thriving ecosystems
One thing we are especially proud of is the way this has been accomplished. We don’t believe that there is only one way to build a successful start-up, burning loads of cash, raising money every year, high employee turnaround, poor work-life balance. At Mirakl we have always stayed true to our culture and values: be very respectful of our investors’ money, spend wisely and ROI driven, expect teams to go above and beyond but be conscious of work-life balance, and promote a customer-first mindset. As we grew, we’ve learnt to celebrate more, whilst always staying focused on the big picture.
Mirakl's Boston team bonding during a summer outing With this new round of funding we are given an amazing opportunity to elevate and take our vision to the next level. With this funding, we are excited to invest in our technology, expand the team, and continue to power the platform economy globally. Stay tuned for:
New solutions for emerging B2B platform business models
New analytics capabilities that fuel AI and personalization solutions
Advancements to Mirakl’s solution making it even easier for retailers and brands to launch a marketplace, onboard sellers, and scale SKUs
We are thankful to our long-time investors who have always believed in us, and are grateful to Bain Capital Ventures for joining us now on our quest.There are many reasons Bain Capital Ventures chose to invest in Mirakl, but here are a few highlights from our executive summary that got Bain Capital Ventures excited about Mirakl:
Marketplace capability is a core component of customers’ eCommerce strategies
The value proposition for third party marketplaces is strong for both B2C and B2B companies
Businesses will prefer to “buy” versus “build” this capability
Mirakl created this new category and stands out as the clear leader
Level of satisfaction with Mirakl’s technology platform and customer service has never been so high
Last but not least, we have built a wonderfully exceptional, driven, passionate, professional team that makes all the difference!
MIrakl's Paris team enjoying the office rooftop 2018 was an exceptional year with Mirakl launching a record 37 marketplaces and 100% growth in our clients’ performance, loads of innovations, and commercial successes. Lots of positive energy took us through the normal ups and downs of a fast-growing innovative company. So, this new round of funding is only the beginning.Thanks again for all your support, passion and stay tuned for more!