Mirakl Raises $70M To Power the Platform Economy

The Category Leader Launched 37 Marketplaces in 2018 to Level the Playing Field Against Amazon and Alibaba

Paris, Boston, London, Munich – February 28, 2019 – Mirakl, the leading global marketplace solutions provider, today announced that it has raised $70 million led by Bain Capital Ventures, with participation from existing investors 83North, Felix Capital and Elaia Partners, bringing total capital raised to $100 million. With this funding, Mirakl will invest in its technology, expand the team, and continue to power the platform economy globally.

In 2018, Mirakl added 60 new customers and launched a record 37 marketplaces, experiencing 80% year-over-year revenue growth while customers experienced 100% increase in gross merchandise value (GMV) from 2017. This sizeable investment is both a recognition of Mirakl’s impressive growth, and the increased dominance of the online marketplace model. The funding will enable Mirakl to further advance its technology and global partner ecosystem, which powers eCommerce 3rd party marketplaces for B2C and B2B businesses. Significant areas of technology investment will include:

  • Building new solutions for emerging B2B platform business models, which Forrester predicts will be a $9 trillion industry in the U.S. by 2019.
  • Launching new analytics capabilities to make the massive amount of data coming from online marketplaces more actionable. These capabilities will also fuel AI and personalization solutions to increase conversions and improve customer experiences.
  • Making Mirakl’s solution even easier for retailers and brands to launch a marketplace, rapidly onboard sellers, and scale SKUs.

“Mirakl is building a new category and ushering in a platform revolution,” said Adrien Nussenbaum, U.S. CEO and cofounder of Mirakl. “We are paving the way to a new business model that can transform businesses and help them establish themselves as leaders in the platform economy. We are thrilled that our investors recognize this vision and the huge opportunities in the marketplace space. This investment is a chance to bring our vision to the next level.”

Marketplaces are taking over the world of eCommerce, and Mirakl is a key to this dominance. In 2018, online marketplaces accounted for 52% of global eCommerce sales and sold more merchandise than all stand-alone retail web sites combined. The enormous success of companies like Alibaba, JD.com, Walmart, and Amazon have transformed the eCommerce landscape. Gartner predicts that over 50% of all online sellers will adopt marketplaces or include third-party sales in their eCommerce ecosystems by 2020. Moreover, 15% of medium- to high-GMV digital commerce organizations will have deployed their own marketplaces by 2023.

This shift isn’t limited to B2C businesses. Today, 87% of business buyers are making business purchases through marketplaces and they expect the same level of convenience experienced on consumer websites. Mirakl’s success stems from its commitment to offering a solution that is adaptable to different industries and business models, is easy to use, flexible, customizable, innovative, and allows companies to quickly respond to customer needs. For instance, Mirakl has focused on innovations that address the emergence of new B2B platform business models which allow manufacturers and distributors to build new digital experiences which bring together large and growing ecosystems of partners.

Mirakl’s innovative and performant technology is used by more than 200 companies globally. Customers include many notable B2C companies, including Walmart (Mexico), Best Buy (Canada), and Urban Outfitters and a diverse set of B2B clients across a range of use cases including Toyota Material Handling and Siemens. In 2018, Mirakl customers achieved $1 billion GMV representing 100% GMV growth from 2017, and a recent study, conducted by Forrester Consulting, found that Mirakl Marketplaces can deliver a significant 162% return on investment within three years.

Over the past seven years, since Mirakl’s launch, the company has transformed from a French company into a global player; settling in Boston, London, Munich, Barcelona, Stockholm, and São Paulo. To support the rapid adoption of the marketplace model, Mirakl has grown its headcount by 200% in the past two years. This round will further grow headcount, as well as expansion into the Asia Pacific and Latin American regions.

“The platform economy is experiencing rapid growth and Mirakl is at the forefront of pushing the space forward,” said Scott Friend, Partner at Bain Capital Ventures. “Mirakl’s sophisticated marketplace technology, impressive customer-base, and extraordinary levels of customer satisfaction put them in a prime position to benefit from the growing adoption of third-party marketplace models amongst B2C commerce companies and platform ecosystems in B2B eCommerce businesses. As one of the most active investors in next-generation commerce technologies over the past decade, Bain Capital Ventures has had a keen focus on technology companies and teams that are laying the foundation for how commerce will be conducted in the future. Mirakl, in our estimation, is one of those small handful of unique companies where specialized domain expertise, advanced technology, and a culture of customer success come together in the context of an exploding market trend. We couldn’t be more excited to join them on this journey.”

For more information about Mirakl and the Mirakl Marketplace Platform, please visit www.mirakl.com.

About Mirakl
Mirakl is powering the platform economy by providing the technology and partner ecosystem needed to launch an eCommerce marketplace. With the Mirakl Marketplace Platform, both B2B and B2C businesses can offer more, learn more, and sell more: increase the number of products available for buyers, grow the lifetime value of customers, and anticipate buyer needs and preferences. Committed to ease of use, The Mirakl Marketplace Platform is a turn-key solution that’s easy to integrate into any eCommerce platform and Mirakl Catalog Manager makes managing product data quality simple at marketplace scale. Mirakl’s unmatched marketplace expertise is key to customers’ success. Mirakl employs a team of 60+ marketplace operators who help clients adopt best practices and client success provides critical long-term strategic guidance. Over 200 customers in 40 countries trust Mirakl’s proven technology and expertise including Urban Outfitters, Hewlett Packard Enterprise, Best Buy Canada, Carrefour, Siemens, Toyota Material Handling, and Walmart Mexico. For more information: www.mirakl.com

About Bain Capital Ventures
Bain Capital Ventures partners with disruptive founders to accelerate their ideas to market. The firm invests from seed to growth in startups driving transformation across industries, from security and cloud infrastructure to logistics and e-commerce to finance and healthcare. The firm has helped launch and commercialize more than 240 companies, including DocuSign, Jet.com, Kiva Systems, LinkedIn, Rapid7, Rent the Runway, SendGrid, SurveyMonkey, Taleo, TellApart and Turbonomic. Bain Capital Ventures has $4.9 billion in assets under management with offices in San Francisco, New York, Boston and Palo Alto. Follow the firm via LinkedIn or Twitter.

Media Contacts:
Maya Pattison
Senior Director Marketing, Americas
maya.pattison@mirakl.com
+1-844-264-7255

Christel Toriello
Directrice Marketing EMEA
christel.toriello@mirakl.com
+33 1 72 31 62 00

 

Mirakl, Gorilla Group Join Forces to Provide Complete B2B & B2C Online Marketplace Go-to-Market Solution

Strategic Partnership Combines Comprehensive Strategy, Implementation & Post Go-Live Services to Help Companies Build & Grow a Marketplace Business

Boston and Chicago – September 26, 2019 – Mirakl, the leading global marketplace solutions provider, and Gorilla Group, a global commerce experience agency, today announced a strategic partnership to offer a comprehensive eCommerce marketplace go-to-market service. The combined solution, designed to help B2B and B2C clients build and grow a successful online marketplace, offers marketplace strategy, implementation, launch and post go-live services.

Sales through online marketplaces now account for more than half of global online sales, and this strategic partnership is perfectly timed for companies looking to seize the opportunity to launch an online marketplace and become a platform business. It follows Gorilla’s recent acquisition by Wunderman Thompson and Mirakl’s $70 million Series C funding round, announced this year.

Gorilla specializes in implementing B2B and B2C commerce solutions that delight customers with complete digital strategy, development, creative, and managed services. Its deep customer experience design and integration expertise helps large enterprises navigate and solve complex pain points to better engage customers, drive new revenue and stave off competition.

Gorilla’s forward-thinking approach has earned the agency an SAP Pinnacle Award, recognition as a Leader in the Forrester Wave: Commerce Specialists Service Providers, Q4 2018, and inclusion in Magento’s Global Elite Solution Partner Program, as well as accolades from Adobe, Salesforce and more for its outstanding work.

“Mirakl is focused on a single goal: enabling B2B and B2C organizations to lead in the platform economy. We believe the companies that build ecosystems of partners to offer more value to their customers will ultimately win in the digital era,” said Adrien Nussenbaum, co-founder and CEO of Mirakl. “By joining forces with Gorilla, the leading eCommerce systems integration agency, we can help every kind of organization—from large retailers, distributors and manufacturers to small boutique etailers—leverage an eCommerce marketplace to grow their business and deepen their connections with customers.”

Mirakl delivers the most comprehensive eCommerce marketplace platform and ecosystem solution on the market. Powering the marketplace strategy for hundreds of global companies, Mirakl empowers businesses to offer customers more options, expand their product offerings and gain deeper customer insights to inform business decisions with its turn-key and highly adaptable platform.

Suitable for both B2B and B2C eCommerce and virtually any industry, the Mirakl solution is customizable and includes a wide range of self-service and add-on options, allowing companies to respond quickly to customer needs and business opportunities. Mirakl’s high-performance technology has been proven to deliver $412 million revenue increase and 162% ROI for customers within just three years. Global clients include Urban Outfitters, Carrefour, Hewlett Packard Enterprise, Toyota Material Handling, and Siemens.

“We are excited to formalize our partnership with Mirakl, our go-to solution for streamlining interactions between manufacturers, dealers and their customers,” said Brian Grady, CEO at Gorilla Group. “As we advise our consumer and B2B clients to look beyond ‘channels’ and consider their broader business models, Mirakl offers the opportunity for them to redefine and broaden the digital commerce experiences they present to their customers.”

Both companies will be on hand during the 2019 B2B Next Conference & Expo Sept. 30-Oct. 2 in Chicago to showcase their new offering. Find them at Mirakl Booth #908 and the Gorilla Networking Lounge.

To learn more about the Mirakl Marketplace Platform, visit www.mirakl.com. For more about Gorilla Group, visit www.gorillagroup.com.

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About Mirakl

Mirakl is powering the platform economy by providing the technology, expertise, and partner ecosystem needed to launch an eCommerce marketplace. With the Mirakl Marketplace Platform, both B2B and B2C businesses can offer more, learn more and sell more: increase the number of products available for buyers, grow the lifetime value of customers, and anticipate buyer needs and preferences. Committed to ease of use, The Mirakl Marketplace Platform is a turn-key solution that’s easy to integrate into any eCommerce platform and Mirakl Catalog Manager makes managing product data quality simple at marketplace scale. Mirakl’s unmatched marketplace expertise is key to customers’ success. Mirakl employs a team of 60+ marketplace experts who help clients adopt best practices and client success provides critical long-term strategic guidance. Over 200 customers in 40 countries trust Mirakl’s proven technology and expertise including Urban Outfitters, Hewlett Packard Enterprise, Best Buy Canada, Carrefour, Siemens, Toyota Material Handling USA, Inc. and Walmart Mexico. For more information: www.mirakl.com

About Gorilla

Gorilla Group, a Wunderman Thompson company, is The Commerce Experience Agency. Here, strategy, business intelligence, experience design, technology enablement, and support and growth services come together to create innovative, award-winning commerce experiences for enterprise B2B and direct-to-consumer brands across industries. We are aligned to help brands connect with their customers across the entirety of the customer journey, or at any point along the way. www.gorillagroup.com

Media Contacts:

For Mirakl
Maya Pattison
Senior Director Marketing, Americas
maya.pattison@mirakl.com
+1-844-264-7255

For Gorilla Group
Randy Kohl
Head of Marketing
rkohl@gorillagroup.com
+1-312-361-1436

Mirakl Named a Sample Vendor in Gartner Hype Cycle for Digital Commerce, 2019

Boston – August 28, 2019 – Mirakl, the leading global marketplace solutions provider, today announced its inclusion in Gartner’s Hype Cycle for Digital Commerce, 20191 as a Sample Vendor for marketplace operation applications within the Enterprise Marketplace.

According to Gartner, “By 2023, 15% of medium- to high-gross-merchandise-value digital commerce organizations will have deployed their own marketplaces, thereby creating an entirely new digital ecosystem.”2 In the Hype Cycle for Digital Commerce, 2019 Gartner explains, “The enterprise marketplace business model is attracting an increasing amount of attention from brands, retailers and B2B online sellers, especially in verticals such as manufacturing, healthcare, chemical, life science, retail and CPG. It is gaining momentum as more organizations try to transform their business models by creating digital business ecosystems.”

The Enterprise Marketplace business model has a “high” benefit rating in the 2019 Hype Cycle for Digital Commerce. The report adds, “When done right, there are many benefits. It helps enterprises enrich product offerings, reduce selling or procurement costs, test new items or categories before adding them to the product catalog, and improve the customer experience by making the process more transparent and efficient. Marketplaces can also be integrated to buyers’ internal procurement systems, thus offering buyers a single source for many products.”

Further, a Total Economic Impact report conducted by Forrester Consulting found that Mirakl Marketplaces can deliver a significant 162% return on investment within three years and drive revenue up by $412 million over three years. The study also found that Mirakl customers experienced a 15% increase in average order size and a 7% increase in physical store sales.

Mirakl’s innovative, market-leading marketplace technology has helped more than 200 companies globally. Mirakl counts many notable B2C companies among its customers, including Walmart (Mexico), Best Buy (Canada), and Urban Outfitters and a diverse set of B2B clients across a range of use cases including Toyota Material Handling and Siemens.

“Last year, buyers spent $1.8 trillion globally on online marketplaces. We created Mirakl to help these companies capitalize on this significant opportunity, and have seen first-hand the dramatic impact of a marketplace for our customers, ” said Adrien Nussenbaum, co-founder and U.S. CEO of Mirakl. “We are thrilled to have been included as a Sample Vendor for marketplace operation applications within the Enterprise Marketplace, and that the Enterprise Marketplace was awarded a high benefit rating in Gartner’s Hype Cycle for Digital Commerce, 2019.  To us, this is yet another sign that now is the time to seize the marketplace opportunity.”


1Gartner, Hype Cycle for Digital Commerce, 2019, Dayna Ford, 5 August 2019 (Gartner subscribers may access the report)

2Gartner, Create Enterprise Marketplaces to Accelerate Digital Business, Sandy Shen, Jason Daigler, 5 July 2019 (Gartner subscribers may access the report)

Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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About Mirakl

Mirakl is powering the platform economy by providing the technology, expertise, and partner ecosystem needed to launch an eCommerce marketplace. With the Mirakl Marketplace Platform, both B2B and B2C businesses can offer more, learn more and sell more: increase the number of products available for buyers, grow the lifetime value of customers, and anticipate buyer needs and preferences. Committed to ease of use, The Mirakl Marketplace Platform is a turn-key solution that’s easy to integrate into any eCommerce platform and Mirakl Catalog Manager makes managing product data quality simple at marketplace scale. Mirakl’s unmatched marketplace expertise is key to customers’ success. Mirakl employs a team of 60+ marketplace experts who help clients adopt best practices and client success provides critical long-term strategic guidance. Over 200 customers in 40 countries trust Mirakl’s proven technology and expertise including Urban Outfitters, Hewlett Packard Enterprise, Best Buy Canada, Carrefour, Siemens, Toyota Material Handling USA, Inc. and Walmart Mexico. For more information: www.mirakl.com

Media Contact:
Maya Pattison
Senior Director Marketing, Americas
maya.pattison@mirakl.com
+1-844-264-7255

Toyota Material Handling USA, Inc. Chooses Mirakl Marketplace Platform to Power New B2B Parts & Equipment Online Store

No. 1-Selling Forklift Brand in North America Deploys Mirakl’s Turnkey Solution to Launch Online Marketplace for Genuine OEM Parts, Accessories & Equipment

Boston – June 12, 2019 – Mirakl, the leading global marketplace solutions provider, announced today Toyota Material Handling USA, Inc. has launched its new B2B parts online marketplace built on the Mirakl Marketplace Platform.

The MyToyota Store now offers one-stop shopping convenience for Toyota customers with equipment in the field, offering hundreds of thousands of Toyota OEM forklift parts and select equipment models online.

Leveraging Mirakl’s complete turnkey marketplace, parts and equipment available on the MyToyota Store are offered, sold, and fulfilled by Toyota’s network of authorized material handling dealers. The MyToyota Store is the only online source for real Toyota Genuine Forklift Parts, making it a superior service over online third party suppliers.

Toyota, the No. 1 selling brand of forklifts in North America, debuted the new B2B online marketplace at the 2019 ProMat Expo in Chicago.

Toyota chose the Mirakl Marketplace Platform to expedite the development of an online marketplace that meets growing demand for online availability of service parts. Toyota is also attracting the next generation of B2B buyers to the Toyota Material Handling USA, Inc. brand with the MyToyota Store.

“Our mission with MyToyota Store is to accelerate our digital transformation and eCommerce strategy with our dealers and offer an alternative, digital sales channel to our customers,” said Toyota Material Handling USA, Inc.’s Nick Ostergaard, Manager of E-Commerce Sales & Operations and Marketing Systems. “It was critical for our authorized dealers to join us online in an effort to upgrade the customer experience in the material handling industry. The marketplace model provides the perfect solution.’

“Partnering with Mirakl enabled us to get this project off the ground and running quickly, to meet our customers’ growing expectations for 24/7/365 access to the products and solutions they need to keep their business moving forward.”

The MyToyota Store promises fast delivery with next day shipping options across the lower-48 United States. Toyota dealers interact with Mirakl’s seller interface to manage online orders, messages, and customer service.

The launch of MyToyota Store positions Toyota Material Handling USA, Inc. at the forefront of the B2B marketplace revolution, which is quickly gaining momentum, driven by B2B sellers’ desire to cultivate a more direct relationship with buyers. According to Gartner analyst Jason Daiger, writing in Gartner’s Hype Cycle for Digital Commerce, 2018, “For B2B sellers, the interest often stems from the need to more fully serve their customers and offer them a single online source for more products and services, while increasing loyalty from partners (suppliers and distributors).”

Forrester predicted the B2B online commerce market would reach $9 trillion in the U.S. last year*, and nearly 90 percent of business buyers already make B2B purchases through an online marketplace.

“Toyota Material Handling USA, Inc. is clearly an innovative brand that understands the value of delivering a customer-centric experience,” said Adrien Nussenbaum, co-founder and U.S. CEO, Mirakl. “Toyota’s marketplace approach is truly unique in the material handling industry, and we’re extremely pleased to provide the platform and tools they need to deliver the sleek, on-demand experience B2B customers expect.”

To learn how the Mirakl marketplace platform can deliver over 160 percent ROI and help drive millions of dollars in new revenue for your business, visit www.mirakl.com.

*Mapping The $9 Trillion US B2B Online Commerce Market, Forrester Research, Inc., April 13, 2018

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About Mirakl

Mirakl is powering the platform economy by providing the technology and partner ecosystem needed to launch an eCommerce marketplace. With the Mirakl Marketplace Platform, both B2B and B2C businesses can offer more, learn more and sell more: increase the number of products available for buyers, grow the lifetime value of customers, and anticipate buyer needs and preferences. Committed to ease of use, The Mirakl Marketplace Platform is a turn-key solution that’s easy to integrate into any eCommerce platform and Mirakl Catalog Manager makes managing product data quality simple at marketplace scale. Mirakl’s unmatched marketplace expertise is key to customers’ success. Mirakl employs a team of 60+ marketplace operators who help clients adopt best practices and client success provides critical long-term strategic guidance. Over 200 customers in 40 countries trust Mirakl’s proven technology and expertise including Urban Outfitters, Hewlett Packard Enterprise, Best Buy Canada, Carrefour, Siemens, Toyota Material Handling USA, Inc. and Walmart Mexico. For more information: www.mirakl.com.

About Toyota Material Handling

Toyota Material Handling USA, Inc. offers a full line of material handling products proudly assembled in the United States, including forklifts, reach trucks, order pickers, pallet jacks, container handlers, automated guided vehicles, and tow tractors, along with aerial work platforms, fleet management services, and advanced automation engineering and design. Toyota’s commitment to quality, reliability and customer satisfaction, the hallmark of the Toyota Production System, extends throughout more than 230 locations across North America. For more information, visit ToyotaForklift.com.

Media Contact:
Maya Pattison
Senior Director Marketing, Americas
maya.pattison@mirakl.com
+1-844-264-7255

New ‘Mirakl Connect’, The Global Marketplace Ecosystem, Accelerates Growth in Booming Platform Economy

First-of-its-Kind Networking Platform Brings Together Marketplace Industry Key Players to Fuel Revenue Growth

Paris, Boston, London, Munich – June 5, 2019 – Mirakl, the leading SaaS marketplace platform, today launched Mirakl Connect, The Global Marketplace Ecosystem, the first digital platform connecting marketplace operators with sellers and partners, to accelerate the launch and growth of new platform strategies.

An online marketplace brings third-party sellers together into a single eCommerce platform, allowing consumers to shop from multiple sellers through a single portal with unified checkout. The model is quickly gaining traction: Forrester data shows that marketplace sales already account for more than 50% of online transactions, with a growth trajectory that’s on track to reach nearly 70% by 2022. And according to Gartner, by 2023, the majority of online sellers will list their products with marketplaces.

Mirakl’s SaaS marketplace platform is the industry’s most advanced, providing a turnkey solution that enables B2C and B2B companies like Best Buy Canada, Walmart, Siemens, Carrefour and Toyota Material Handling to quickly launch and easily run a lucrative marketplace business. However, achieving success in the booming marketplace industry depends upon first having the best technology as a foundation, and secondly on finding and connecting with the right partners and sellers. This is where Mirakl Connect comes in, bringing together, in a single platform, a global marketplace community of:

  • Mirakl-powered marketplace operators
  • Top marketplace sellers
  • Partners offering services and technology solutions with experience in the marketplace space

“Mirakl is leading the marketplace revolution, essentially giving any online business the ability to leverage the same strategy and technology that has turned Amazon into the world’s biggest online retailer,” said Antonio Parisi, Marketplace Director at UBALDI. “With Mirakl Connect, they’re making it even easier for companies to accelerate by effectively removing the biggest barrier to entry and growth—finding partners that meet our marketplace requirements in terms of product categories and geography.”

Mirakl Connect accelerates interactions between marketplace players, allowing them to:

  • Promote their business to increase visibility in the marketplace industry;
  • Make new connections and engage with potential marketplace business partners all in one place; and
  • Accelerate the launch and growth of their marketplace activity.

Mirakl Connect is free and provides key features that help platform members accelerate and succeed in their marketplace business, including:

  • A curated marketplace community with access to global players in a single platform;
  • A company profile that allows members to create and manage a profile to promote their business;
  • Search capabilities that help members easily and quickly find new prospects with filters like product category or geography; and
  • Built-in chat function, allowing members to conveniently engage and discuss new opportunities with one another.

“Mirakl Connect is bridging the gap between operators, sellers and third-party partners, enabling the kind of partnerships that allow everyone to capitalize on the huge marketplace business opportunity,” said Mirakl U.S. CEO and co-founder Adrien Nussenbaum. “Whether you’re just getting started or looking to expand your current marketplace business, this platform will connect you with the right suppliers, the right partners, and the right Mirakl-powered marketplace operators to achieve your growth goals.”

To learn more about how to get onboard with Mirakl Connect, visit www.MiraklConnect.com.

About Mirakl

Mirakl is powering the platform economy by providing the technology and partner ecosystem needed to launch an eCommerce marketplace. With the Mirakl Marketplace Platform, both B2B and B2C businesses can offer more, learn more, and sell more: increase the number of products available for buyers, grow the lifetime value of customers, and anticipate buyer needs and preferences. Committed to ease of use, The Mirakl Marketplace Platform is a turn-key solution that’s easy to integrate into any eCommerce platform and Mirakl Catalog Manager makes managing product data quality simple at marketplace scale. Mirakl’s unmatched marketplace expertise is key to customers’ success. Mirakl employs a team of 60+ marketplace experts who help clients adopt best practices and client success provides critical long-term strategic guidance. Over 200 customers in 40 countries trust Mirakl’s proven technology and expertise including Urban Outfitters, Hewlett Packard Enterprise, Best Buy Canada, Carrefour, Siemens, Toyota Material Handling, and Walmart Mexico. For more information: www.mirakl.com

Media Contact:
Maya Pattison
Senior Director Marketing, Americas
maya.pattison@mirakl.com
+1-844-264-7255

Mirakl Report Finds ⅔ B2B Companies Plan To Expand Third-Party Partner Ecosystem To Improve Customer Experience

Mirakl, SAP, WBR Insights, and B2B Online report dives into the present and future of B2B commerce

Paris, Boston, London, Munich – April 25, 2019 – Mirakl, the leading global marketplace solutions provider, released a report with SAP, WBR Insights, and the B2B Online 2019 event series today titled: “B2B Value Chains: Who Will Own the Experience Economy?” The report takes a deep dive into how top B2B multinational companies are reimagining B2B digital commerce and the role of marketplaces in the age of Amazon. It found that 66% of companies are planning to build a larger ecosystem of third-party partners and products to offer their customers more and improve customer experience. In addition, 50% of manufacturers are planning to launch an online marketplace and invite channel partners to be sellers to avoid channel conflict.

B2B digital commerce hit over $1 trillion in the United States in 2018, leading Forrester to predict that by 2023 the US B2B digital commerce market will be $1.840 trillion. In anticipation of the dramatic growth, manufacturers and distributors are getting ready to capture their piece of the pie while better serving customers. To determine the state of B2B digital commerce maturity and plans for growth, researchers interviewed 240 B2B enterprise manufacturers and distributors across 8 industries: Life sciences, automotive, high tech, food, industrial, energy & utilities, aerospace & defense, and oil & gas. Specific topics explored were digital maturity, channel conflict concerns, and how these businesses plan to grow by using online marketplaces.

The report concluded that digital commerce maturity is generally low among manufacturers and there’s still a fear of channel conflict, which prohibits many companies from selling direct. However, for B2B businesses that are slow to reimagine digital commerce, the consequences are clear—the inability to direct relationships, lack of access to customer data, and continued low conversions through “dealer locator” experiences. As a result, many B2B manufacturers are planning to grow their partner ecosystems to become more customer-centric and improve their customer experience.

Other key findings include:

  • In two years, 46% of B2B companies will employ cloud-based technologies for 61% – 100% of their digital commerce solutions
  • 85% of companies claim most (61% – 80%) if not all (81% – 100%) digital commerce buyers will buy directly from manufacturers in the next two years.
  • To address channel conflict concerns, 56% of distributors are planning to add more products to their range to become more competitive

“B2B companies know that today’s customers have greater expectations for online buying and are seeking an Amazon-like buying experience,” said Adrien Nussenbaum, CEO of Mirakl. “Manufacturers and distributors are working hard to create a battle plan so they can better compete. This report provides valuable insights, from a wide range of perspectives, into the challenges and opportunities for B2B companies so they can make more informed decisions moving forward.”
You can download the full report here or stop by Mirakl’s booth #301 at B2B Online starting April 29th for a copy.

Additionally, Mirakl’s Co-Founder & CEO Adrien Nussenbaum will be moderating a panel at B2B Online on “Driving Disruption, Harnessing Platform Models to Capitalize on Growth.” During this discussion, platform leaders will share success stories on how they’ve driven their business forward by leveraging the platform and marketplace business models. Panelists include:

  • Toyota Material Handling USA, Inc: Nick Ostergaard, Manager, eCommerce Sales & Operations and Marketing Systems
  • Siemens AG: Joachim Leistner-Weisgerber, Commercial Head of Spare Parts Rolling Stock
  • Hewlett Packard Enterprise: Christopher Shen, Senior eCommerce Manager

The panel will take place on April 29th from 11:25 – 11:55am. For more information, visit: https://b2bmarketing.wbresearch.com/

About Mirakl

Mirakl is powering the platform economy by providing the technology and partner ecosystem needed to launch an eCommerce marketplace. With the Mirakl Marketplace Platform, both B2B and B2C businesses can offer more, learn more, and sell more: increase the number of products available for buyers, grow the lifetime value of customers, and anticipate buyer needs and preferences. Committed to ease of use, The Mirakl Marketplace Platform is a turn-key solution that’s easy to integrate into any eCommerce platform and Mirakl Catalog Manager makes managing product data quality simple at marketplace scale. Mirakl’s unmatched marketplace expertise is key to customers’ success. Mirakl employs a team of 60+ marketplace experts who help clients adopt best practices and client success provides critical long-term strategic guidance. Over 200 customers in 40 countries trust Mirakl’s proven technology and expertise including Urban Outfitters, Hewlett Packard Enterprise, Best Buy Canada, Carrefour, Siemens, Toyota Material Handling, and Walmart Mexico. For more information: www.mirakl.com

Mirakl Launches Connector to Magento to Accelerate Integrations With the Mirakl Marketplace Platform

With the Mirakl Connector for Magento Marketplace Sellers, companies using Magento Commerce can easily sell products across Mirakl marketplaces

BOSTON – April 11, 2019- Mirakl, the leading global marketplace solutions provider, announced today the availability of a new Mirakl connector that will help their customers, and sellers, achieve even more success with Mirakl. The Mirakl Connector for Magento Marketplace Sellers allows brands, retailers, and distributors using Magento Commerce to easily sell products across Mirakl marketplaces and manage operations from one central place.

“Marketplaces represent a valuable new channel for our merchants to increase visibility and grow sales,” stated Ryan Murden, Head of Business Development at Magento, an Adobe Company. “Given the breadth and diversity of marketplaces powered by Mirakl, their new connector for Magento will make it easier than ever for our merchants to diversify their product strategy and open up new partnerships and sales channels to grow their business.”

With over 200 customers and 37 new marketplace platforms launched in 2018, Mirakl marketplaces represent a welcomed new sales channel for companies looking to diversify their online business. Mirakl clients like Darty, Best Buy Canada, and Afound offer a valuable audience of loyal customers, providing a perfect window for brand names and vertical niche players alike.

“Key to our marketplace success is the breadth of sellers we partner with to provide a broad product offering to our customers. Every step of the way, Mirakl’s technology has made onboarding and working with these sellers as easy as possible. Connectors are critical accelerators to seller onboarding, and we are thrilled with the new Mirakl Connector for Magento Marketplace Sellers,” said Andrea Simontacchi, Marketplace Product Owner, ePrice.

Features of the Mirakl Connector for Magento Marketplace Sellers include:

  • Connect to multiple marketplaces powered by Mirakl
  • Manage operations from one single place, the Magento Commerce engine
  • Create listings and export products to the marketplace
  • Automate price & stock updates
  • Unify order management for all eCommerce and marketplace orders from the Magento Back-Office
  • Manage the entire order workflow including shipment updates
  • Handle customer service inquiries and messages on orders
  • Streamline workflows with configurable cron jobs
  • Interface available in both French and English
  • Detailed documentation and video tutorials

The Mirakl Connector for Magento Marketplace Sellers can be used by any business that is registered on a marketplace powered by Mirakl. The connector can be downloaded, and tutorials are available from the Mirakl marketplace portal. Both Magento Commerce and Magento Open Source are supported, and there is a Connector available for both Magneto 1 and Magento 2. The Connectors are also listed on the Magento Marketplace.

“The Mirakl Connector for Magento Marketplace Sellers is a significant investment to support our customers’ growth. We were in an ideal position to bring a tool to market which helps businesses sell on Mirakl marketplaces, and to help our customers accelerate the process of onboarding sellers. We are committed to seeing all members of the Mirakl ecosystem succeed, and are proud to continue developing valuable connectors like this one for Magento,” said Philippe Corrot CEO of Mirakl.

This connector represents an exciting next step for Mirakl, offering more to the global marketplace seller community. Mirakl has previously made several other connectors available to their Marketplace Operators in order to accelerate integrations with the Mirakl Marketplace Platform.

For more information about Mirakl and the Mirakl Marketplace Platform, please visit www.mirakl.com.

About Mirakl
Mirakl is powering the platform economy by providing the technology and partner ecosystem needed to launch an eCommerce marketplace. With the Mirakl Marketplace Platform, both B2B and B2C businesses can offer more, learn more, and sell more: increase the number of products available for buyers, grow the lifetime value of customers, and anticipate buyer needs and preferences. Committed to ease of use, The Mirakl Marketplace Platform is a turn-key solution that’s easy to integrate into any eCommerce platform and Mirakl Catalog Manager makes managing product data quality simple at marketplace scale. Mirakl’s unmatched marketplace expertise is key to customers’ success. Mirakl employs a team of 60+ marketplace experts who help clients adopt best practices and client success provides critical long-term strategic guidance. Over 200 customers in 40 countries trust Mirakl’s proven technology and expertise including Urban Outfitters, Hewlett Packard Enterprise, Best Buy Canada, Carrefour, Siemens, Toyota Material Handling, and Walmart Mexico. For more information: www.mirakl.com

Media Contacts:
Maya Pattison
Senior Director Marketing, Americas
maya.pattison@mirakl.com
+1-844-264-7255

Total Economic Impact Study Finds Mirakl Marketplace Platform Can Deliver 162% ROI

New independent study reveals Mirakl Marketplaces increase revenue $412M over three years

Paris, Boston, London, Munich – February 19, 2019- Mirakl, the leading global marketplace solutions provider, announced today the findings of a newly commissioned comprehensive study conducted by Forrester Consulting on behalf of Mirakl. The Total Economic Impact study, which sought to provide a framework to evaluate the financial impact of a Mirakl Marketplace, found that Mirakl Marketplaces can deliver a significant 162% return on investment within three years and drive revenue up by $412 million over three years. Additionally, the study found that Mirakl customers experienced an average 15% increase in average order size and a 7% increase in physical store sales.

As part of the study, Forrester interviewed five leading retailers who implemented Mirakl and expanded their eCommerce capabilities with an online marketplace. Prior to using Mirakl, each of the customers offered products they purchased, placed in inventory, and shipped to ordering buyers. Some also had physical stores which offered the same products. For these customers, moving to an online marketplace, with a technology partner, represented a shift in business strategy with significant return on investment.

According to a customer interviewed for this study from a multinational consumer electronics retailer: “We started to build out a marketplace on our own by developing partnerships for products that we viewed as complementary to our traditional categories. The partnerships took a huge amount of energy, and we didn’t achieve our growth goals. When we looked at a marketplace partner [Mirakl], we saw a simpler and more cost- effective approach to expanding our offerings dramatically.”

Key findings from the study include

Quantitative Findings:

  • Increased lifetime value of customers worth $5.5 million. With the broader selection of products (SKUs), companies were able to increase the average number of purchases per year per customer. An increase of just one order per named customer resulted in additional revenue measuring $106 million over three years.
  • Increased results from search engine marketing worth $5.2 million. After launching marketplaces with Mirakl, companies with less well-known brands increased the spend on search engine marketing, including search engine optimization (SEO). On average, they realized a benefit of $20 in sales for every dollar invested in SEM and resulting in $87 million in incremental revenue over three years.
  • Increased average order size valued at $4.5 million. Expanding to include marketplaces as part of their strategies increased companies’ average orders by 15% and increased revenue over three years by $76 million. Offering a wide range of complementary products elevated the ability to cross- sell and to identify product relationships which were surprising or unanticipated.
  • Increased sales in physical stores resulting in $2.6 million in net profit. Having an online marketplace increased traffic in physical stores and elevated sales two main ways- some organizations generated traffic via Marketplace product returns, where others generated traffic through implementing Buy-Online-Pickup-In-Store on marketplace products. Through these methods, companies increased the foot traffic in their stores and subsequently increase sales by a total of $140 million over three years.
  • Increased quality of customer experience valued at $1.8 million. Customer are more satisfied with a broader product offering, although the most successful organizations made provisions for product returns from all marketplace purchases to their physical stores. On average, the organizations increased their CX Index scores by 1.5 basis points by the end of three years.

Qualitative Findings:

  • Streamlined deployment. Mirakl provides a significant selection of the APIs, connectors and existing technology partnerships which streamline deploying a marketplace.
  • Improved results after prior attempts to expand catalog. Several organizations experimented with more moderate approaches to expanding their eCommerce with complementary products or selling partners, but the approach required significant effort and yielded only moderate success.
  • Confirmed new growth channel that doesn’t cannibalize owned product sales: A customer interviewed for the study revealed: “We did a study and concluded that marketplace enables us to increase the global conversion rate and global revenue, without preventing growth on our own range.”
  • Avoidance of pitfalls in launching and operating a marketplace. The interviewed organizations developed a partnership with Mirakl and relied on the company as a strategy advisor.
  • Segmenting and identifying patterns between buyers and sellers. Mirakl arms customers with critical data on sellers, categories, customer experience, and product feedback enabling businesses to anticipate customer needs and determine marketplace expansion opportunities.

A customer interviewed for the study, from a national retailer, shared: “In the first year working with Mirakl, our gross merchandise value (GMV) increased 300%. Some of our product groups have experienced an increase in market share of 400 basis points.”

“The impact of Mirakl Marketplaces is exactly why we are continuing to experience such explosive growth. Last year alone, we grew 80% year-over-year and launched a record number of marketplaces,” said Philippe Corrot CEO of Mirakl. “We’re thankful to our customers for sharing their success, so we can help many more businesses experience the impact of Mirakl.”

To read the full findings of the study please visit: https://info.mirakl.com/forrester-tei-marketplace-platform

For more information about Mirakl and the Mirakl Marketplace Platform, please visit www.mirakl.com.

About Mirakl
Mirakl is powering the platform economy by providing the technology and partner ecosystem needed to launch an eCommerce marketplace. With the Mirakl Marketplace Platform, both B2B and B2C businesses can offer more, learn more, and sell more: increase the number of products available for buyers, grow the lifetime value of customers, and anticipate buyer needs and preferences. Committed to ease of use, The Mirakl Marketplace Platform is a turn-key solution that’s easy to integrate into any eCommerce platform and Mirakl Catalog Manager makes managing product data quality simple at marketplace scale. Mirakl’s unmatched marketplace expertise is key to customers’ success. Mirakl employs a team of 60+ marketplace operators who help clients adopt best practices and client success provides critical long-term strategic guidance. Over 200 customers in 40 countries trust Mirakl’s proven technology and expertise including Urban Outfitters, Hewlett Packard Enterprise, Best Buy Canada, Carrefour, Siemens, Toyota Material Handling, and Walmart Mexico. For more information: www.mirakl.com

Media Contacts:
Maya Pattison
Senior Director Marketing, Americas
maya.pattison@mirakl.com
+1-844-264-7255

Christel Toriello
Directrice Marketing EMEA
christel.toriello@mirakl.com
+33 1 72 31 62 00

 

Mirakl Announces 80% Year-Over-Year Growth and Over 100% GMV Increase

2018 marks 60 new customers and a record number of marketplace launches, highlighting the growth of the Mirakl Marketplace Platform

Paris, Boston, London, Munich – January 31, 2019Mirakl, the leading global marketplace solutions provider, today announced 80% year-over-year revenue growth and over 100% GMV increase from 2017. In 2018, Mirakl added 60 new customers and launched a record 37 marketplaces. Mirakl and Mirakl’s customers’ success highlights the increased adoption of the marketplace model.  

Major highlights for Mirakl in 2018 included:

  • SAP became an official reseller of the Mirakl Marketplace Platform, adding Mirakl to its software and service portfolio. With the simple integration of Mirakl’s pre-built connector to the SAP Commerce Cloud, SAP customers can quickly launch marketplaces, rapidly onboard new sellers, and easily map new products and categories to catalog taxonomies.
  • The acceleration of our category, Marketplace Operation Applications, in Gartner’s Hype Cycle for Digital Commerce, 2018 (July 2018). “Marketplace operation as a business model is attracting an increasing amount of attention from brands, retails and B2B online sellers,” wrote Jason Daigler, Senior Director Analyst for Gartner. “For B2B sellers, the interest often stems from the need to more fully serve their customers and offer them a single online source for more products and services, while increasing loyalty from partners (suppliers and distributors).”
  • The acquisition of leading customers including Siemens, Toyota Material Handling, Office Depot, Fnac, Leroy Merlin Brazil, and Albertsons Companies.
  • The launch of many innovative new use cases for Mirakl’s marketplace technology, including Siemens’ successful launch of their B2B online marketplace, Coperama’s leading procurement marketplace, and Carrefour Taiwan’s product expansion marketplace.
  • The launch of Mirakl Catalog Manager (MCM) has given customers complete control over seller data quality making it even easier to manage product data quality at marketplace scale. Originally launched in early 2018, Mirakl continued to launch new MCM features throughout the year like bulk actions, which greatly reduces the time it formerly took to consolidate product data.

Additionally, Mirakl’s customer performance was outstanding in 2018, showcasing the financial impact of the marketplace model:

  • Over $1B GMV achieved by Mirakl customers which represents over 100% GMV growth year-over-year.
  • 2.5x the orders on Black Friday in 2018 versus 2017- processing 500,000 orders in a single day, with 100% uptime, resulting in $60M GMV for our customers.
  • The majority of marketplace launches were completed within four months of becoming Mirakl clients.

Today, 87% of business buyers across industries are making business purchases through marketplaces, and in 2018 Mirakl supported a record number of these businesses including Toyota Material Handling. “…we see the future potential for the online marketplace to serve as a vehicle to better support our dealers by helping them sell more of their inventory – even non-Toyota products,” said Steve Tadd, Director of Marketing & IT for Toyota Material Handling.

Behind Mirakl’s customers’ success is the Mirakl Labs and Client Success teams.

Mirakl Labs, Mirakl’s R&D Division, released significant enhancements to Mirakl’s Marketplace Platform, including:

  • More flexible payment options to meet operators, sellers and customers’ desire for flexibility in when and how they pay. New features include customizable billing cycles and invoice payment confirmation. Additionally, Mirakl added a unique new feature that lets customers pay sellers directly without the operator involved, and the operator then invoices the commission. This eliminates the need for operators to hold dollars for sellers, and allows them to quickly collect commission.
  • Mirakl services marketplace platform was enhanced by improved services attribute management and messaging systems which give operators more ways to manage service details and improve communications between service providers and customers.
  • In 2018 Mirakl put a significant focus on B2B feature innovation to cater to the complexity of B2B sales. Innovations included more granular pricing control, increased minimum and maximum quantities for bulk selling, and continued improvement for tax and payment handling.
  • Whether it was U.S. tax regulation or GDPR compliance, Mirakl prioritized all necessary projects to ensure clients’ ability to respond to any changes in tax and law.

Mirakl’s Client Success team launched Mirakl University, a program designed to train and certify clients’ teams and partners on marketplace management, and proudly completed 40 certifications in 2018.

In Gartner’s Predicts 2019: New Deployment Models, Channels and Technologies Spark Digital Commerce Growth (Dec 2018), the report estimates that “By 2023, 15% of medium- to high-GMV digital commerce organizations will have deployed their own marketplaces, thereby creating a digital ecosystem on their path to digital business.” In order to support this rapid adoption of marketplaces, Mirakl has grown their headcount over 200% in the past two years.

“Mirakl’s tremendous success last year, combined with our customers’ success, is further proof that we are living through a platform revolution,” said Philippe Corrot, Mirakl CEO. “What our customers are proving is that by launching a marketplace, leading companies can compete with platform giants such as Amazon and Alibaba. We are excited to continue our rapid growth and help more companies navigate the platform revolution this year.”  

Annually Mirakl hosts the Marketplace & Platform Summit bringing together market-leading retailers, innovative technology partners and top industry analysts to celebrate the power and potential of the marketplace model. In 2018, the Marketplace & Platform Summit hosted over 400 marketplace leaders from across the world. Adrien Nussenbaum, Mirakl co-founder and U.S. CEO, spoke to the Platform Revolution in his keynote and attendees heard from speakers including: Walmart Mexico, Alibaba, Galeries Lafayette, 1-800-Flowers.com Inc., Conrad Electronic, and Roland Berger France.

For more information about Mirakl and the Mirakl Marketplace Platform, please visit www.mirakl.com.

About Mirakl
Mirakl powers your platform business strategy by allowing you to quickly launch an online marketplace. Marketplaces allow companies to easily add products and services by connecting third-party sellers and service providers. The Mirakl Marketplace Platform automates the hard things about marketplace management: Seller onboarding, service quality control, and order distribution; on a turn-key solution that’s easy to integrate into any e-commerce platform. Mirakl Catalog Manager makes it easy to manage product data quality at marketplace scale. Over 200 customers in 40 countries trust Mirakl’s proven expertise and technology including Urban Outfitters, Hewlett Packard Enterprise, Best Buy Canada, Carrefour, and Walmart Mexico. For more information: www.mirakl.com

Media Contacts:
Maya Pattison
Senior Director Marketing, Americas
maya.pattison@mirakl.com
+1-844-264-7255

Bluefly Launches Mirakl Marketplace Platform In Time For the Holidays, Resulting in 20% YOY Black Friday Sales Growth

Mirakl’s turn-key marketplace platform enabled Bluefly to launch in less than four months with 600,000 products meeting tight holiday deadlines.

BOSTON – January 11, 2019 – Mirakl, the leading global marketplace solutions provider, announced today that Bluefly was able to quickly bring its marketplace live on the Mirakl Marketplace Platform in less than four months to meet holiday demand. With help from Mirakl, Bluefly was able to quickly launch with over 600,000 products. The U.S. off-price luxury eTailer completed the full product migration in November with more than one million products in its assortment.

Bluefly’s first holiday season on the Mirakl Marketplace Platform was an undeniable success. Over the week encompassing Thanksgiving, November 19-26, Bluefly, who specializes in men’s and women’s apparel and accessories plus beauty and home furnishings, reached $1.7 million GMV and 15,000 orders. These sales represent a 20% year-over-year increase in Black Friday sales. In addition to increased sales, since launch, Bluefly experienced increased control over seller quality which has resulted in reduced cart abandonment, increased conversions and fewer returns.

“Being able to migrate to the Mirakl Marketplace Platform quickly without any business disruption was critical for our business. Mirakl enabled us to ramp up in four months and capture unprecedented customer demand over the Thanksgiving period,” said Yann Tanini, president, Bluefly. “Since implementing Mirakl we have been able to onboard sellers more quickly and have increased control over seller quality. We’re looking forward to significant ramp up next year, which will allow us to offer additional products from a wide variety of brands.”

According to Forrester Research, in 2016 shoppers did half of their online spending through marketplaces, and that number is expected to rise to two-thirds by 2021. Additionally, a new global survey highlighted how critical it was for Bluefly to select a marketplace solution that would enable them to meet holiday deadlines and offer a wide variety of products through their marketplace. The survey found that 55% of 25-34 year olds did more than three quarters of their holiday shopping online and 55% of consumers stopped shopping with a retailer because a competitor offered a better selection of products.

“With the Mirakl Catalog Manager in place to curate product content and Mirakl Quality Control to identify only the best sellers, the platform will continue to allow Bluefly to provide a superior customer experience,” said Adrien Nussenbaum, co-founder and U.S. CEO, Mirakl. “Mirakl expects Bluefly to increase its vendor network to 1,000 partners over the next 18-24 months.”

To learn more about what the Mirakl Marketplace Platform can do for your company, visit Mirakl in Booth #206 at NRF’s Big Show or click here.  

About Bluefly
Headquartered in New York City’s fashion district, Bluefly is the original online fashion retailer. Today, Bluefly is a fast growing, fashion marketplace offering 3,000+ brands across shoes, handbags, dresses, sportswear, cashmere and even diamonds. Bluefly’s curated events bring you the best of the splurge and the steal all in one place and all at compelling discounts. We are the online shopping destination for the style obsessed looking for coveted finds from brands including Prada, Gucci, Valentino, Alice and Olivia, Parker, Vintage Chanel, and thousands more. And now, building upon our success in the US, we are expanding our ecommerce operations internationally! At Bluefly, find what you seek.

About Mirakl
Mirakl powers your platform business strategy by allowing you to quickly launch an online marketplace. Marketplaces allow companies to easily add products and services by connecting third-party sellers and service providers. The Mirakl Marketplace Platform automates the hard things about marketplace management: Seller onboarding, service quality control, and order distribution; on a turn-key solution that’s easy to integrate into any e-commerce platform. Mirakl Catalog Manager makes it easy to manage product data quality at marketplace scale. Over 150 customers in 40 countries trust Mirakl’s proven expertise and technology including Urban Outfitters, Hewlett Packard Enterprise, Best Buy Canada, Carrefour, and Walmart Mexico. For more information: www.mirakl.com

Media Contacts:
Maya Pattison
Senior Director Marketing, Americas
maya.pattison@mirakl.com
+1-844-264-7255