2019 marks $70M series C funding and 49 new customers demonstrating the momentum of Mirakl and the Platform Revolution
Paris, Boston, London, Munich – January 23, 2020 – Mirakl, the leading global marketplace solutions provider, today announced 77% year-over-year revenue growth and over $1.5B GMV achieved by Mirakl-powered Marketplaces. In 2019, Mirakl added 49 new customers and closed $70M in series C funding led by Bain Capital Ventures. The success of Mirakl and its customers showcases the transformative power of the marketplace model.
Major highlights for Mirakl in 2019 included:
- The launch of Mirakl Connect, The Global Marketplace Ecosystem, which is the first platform connecting marketplace operators with sellers and partners to accelerate the growth of new platform strategies.
- The release of the Mirakl Connector for Magento Marketplace Sellers, which allows brands, retailers, and distributors using Magento Commerce to easily sell products across Mirakl-powered Marketplaces and manage operations from one central place.
- Passing the Service Organization Control (SOC) 2 Type I audit, in accordance with the American Institute of Certified Public Accountants (AICPA) Trust Services Criteria (TSC).
- The acquisition of 49 leading industry incumbents who are leveraging the platform model to establish themselves as digital leaders, including Airbus Helicopters, Changi Airport, NBC Universal, Thales, and Shufersal.
- Continued investments in Mirakl’s technology platform and AI, making it easier for operators and sellers to handle marketplace product data quality at scale and grow their marketplace opportunity with advanced catalog management capabilities.
- A comprehensive commissioned study conducted by Forrester Consulting on behalf of Mirakl, which found that Mirakl-powered Marketplaces can deliver a significant 162% return on investment within three years and drive revenue up by $412 million over three years.
- Being included in Gartner’s Hype Cycle for Digital Commerce, 20191 as a Sample Vendor for marketplace operation applications within the Enterprise Marketplace. Gartner gave the Enterprise Marketplace business model a “high” benefit rating in the 2019 Hype Cycle for Digital Commerce, stating, “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.”
- New partnerships with leading organizations including Accenture, Avensia, BORN, Deloitte Digital, Gorilla Group, Optaros by MRM//McCann, Salesforce, ShipStation and Xplore Group to help organizations implement a winning platform strategy. Additionally, our strategic Solution Extension partnership with SAP yielded great results in its first year, helping Mirakl grow in core markets including Germany and Brazil, and new markets such as the Middle East.
- Being named to the Next40 list of France’s 40 most promising startups, in recognition of Mirakl’s status as the leading global marketplace solutions provider and a tech industry leader. Next40 is part of a broader initiative by the President of France to grow the number of French “unicorns” – privately-owned startups valued at more than $1 billion USD – and boost digital technology and innovation in France.
- Welcoming four veteran sales and marketplace strategy experts to Mirakl’s senior team. Brian Callahan joined Mirakl as Executive Vice President of Sales – Americas/APAC and Brendan Walsh joined as Executive Vice President of Sales – EMEA. Retail digital commerce and data analytics expert Tzipi Avioz also joined Mirakl as Executive Vice President of Customer Success – Americas and APAC. And, former Amazon Marketplace executive Luca Cassina was named Executive Vice President of Customer Success EMEA.
Additionally, Mirakl’s customers’ performance was outstanding in 2019, showing just how quickly the marketplace model is gaining traction:
- Over $1.5B GMV was achieved by Mirakl-powered Marketplaces, with 1 million orders processed during Black Friday 2019 alone.
- 41 new Mirakl-powered Marketplaces were launched in 2019 with the majority of launches being completed within four months of becoming Mirakl clients. New marketplaces in 2019 include ABB Electrification, Brico Prive, Coperama, Joules, Maisonette, Metro Cash and Carry, Premier, Simon Properties, Thoughtfull by Indigo Books & Music, and Toyota Material Handling.
- There were 26,000 active pro-sellers on Mirakl-powered Marketplaces in 2019, representing more than 73 million active offers.
Nick Ostergaard, Manager of eCommerce Sales & Operations and Marketing Systems at Toyota Material Handling said, “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.”
To help organizations take advantage of the significant platform opportunity, Mirakl hosted its annual Marketplace & Platform Summit in Paris and the inaugural Marketplace & Platform Summit in Boston in 2019. These exclusive events brought together more than 600 market-leading organizations, innovative technology partners and top industry analysts from across the globe to celebrate the power and potential of the marketplace model. Adrien Nussenbaum, Mirakl co-founder and U.S. CEO, spoke about how platforms are forever changing how people and businesses interact. His message to attendees was, “Today, your strength is your relationship with your customers. Tomorrow, your strength is the ecosystem you build between your customers and partners.”
Gartner projects that more than 60% of online sellers will adopt marketplaces or include third-party sales in their eCommerce ecosystems by 2020. To meet the growing marketplace demand, Mirakl grew its team to 258 employees in 2019.
“We are proud to see our Platform Pioneers leveraging Mirakl solutions to reinvent commerce as we know it, and reap the benefits of a platform business model,” said Mirakl co-founder and CEO Philippe Corrot. “There’s no doubt that the digital revolution will continue to drive massive disruption in the years to come.”
For more information about Mirakl and the Mirakl Marketplace Platform, please visit www.mirakl.com.
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
Senior Director Marketing, Americas