Mirakl Nets $20M To Support International Expansion

The success story of a French Start-up with a global vision

Mirakl is proud to announce to have closed a $20 million Series B round of funding. The injection of capital will be used to bring Mirakl’s online marketplace platform to a greater number of B2C and B2B retailers across the globe.

The deal was led by 83North’s Laurel Bowden (an investor in firms such as hybris, Just Eat and Notonthehighstreet), Felix Capital’s Frederic Court and Dave Strohm, Partner at Greylock and a founding investor and advisor to 83North.
The funding comes on the back of Mirakl achieving growth of 200% between 2013 and 2014 and signing 22 new customers so far in 2015. The round, one of the largest secured by a French firm this year, will drive Mirakl’s international expansion.

Following the opening of its first office in the USA in 2014, the country will continue to be a key growth market. Current B2C customers of Mirakl include Best Buy, GAME, Halfords, Woolworths, Galeries Lafayette and Darty. In total Mirakl has 55 customers across 11 countries.

According to IDC the SaaS enterprise applications, market is forecast to increase to a total of USD $50.8 billion by 2018. At the same time Statista projects retail ecommerce to grow to USD $2.39 trillion by 2018.

Why smart retailers should have a Marketplace

Any smart retailer in 2015 should have an online marketplace, or be considering it as an option,” said Adrien Nussenbaum, co-founder and US CEO, Mirakl. “Consumers want choice, service and competitive pricing and an online marketplace delivers all three, allowing controlled growth and the on-going improvement and refinement of the customer experience. It doesn’t matter if your business model is B2C or B2B, an online marketplace will help you reach and service customers better than ever before.”

Laurel Bowden, Partner, 83North said: “Online marketplaces are everywhere, driving multichannel retail and offering a greater scope for expansion combined with higher profit growth and lower risk. We are getting ever closer to a time where every sector, be it art, professional services or travel, will be utilising online marketplaces and Mirakl is well positioned to deliver this. I’m excited to begin working alongside the exceptional entrepreneurial team that has already built Mirakl to where it is today. ”

Philippe Corrot, co-founder and CEO, Mirakl commented: “Mirakl is growing incredibly fast and attracting such a range of world-class investors will be a major benefit to us as we continue our journey. Global commerce is continuously increasing in competitiveness, and those who adapt to changing consumption patterns and place customers at the heart of their business succeed. With this investment we can capitalise on our market leading position in Europe and achieve the same success supporting the most dynamic B2C and B2B online marketplaces.”

Discover related articles in the press

 Forbes – Mirakl Nets $20m In Series B Funding To Bring Online Marketplaces To World’s Retailers

Retail Systems – Mirakl seeks Stateside success

Unquote – Felix Capital et al. in $20m series-B round for Mirakl

Techcrunch – Mirakl Closes $20M Series B From VCs That Love Online Marketplaces

PE Hub – French online marketplace Mirakl raises $20 mln led by 83North

Internet Retailer – An e-commerce technology provider raises $20 million in funding