Parisian unicorn Mirakl to quadruple U.S. team with $555M

Adrien Nussenbaum (pictured) is the co-founder and co-CEO of Mirakl. He started the company with Philippe Corrot, who’s based in France.

Mirakl, a Parisian marketplace platform with dual headquarters in France and Somerville, plans to more than quadruple its U.S. team after raising another late-stage round of finance.

Mirakl raised $555 million in a Series E funding round led by Silver Lake with participation from 83North, Elaia Partners, Felix Capital and Permira. The new funding increased the company’s valuation to more than $3.5 billion.

In an interview ahead of the announcement, co-founder and co-CEO Adrien Nussenbaum said he plans “at minimum to double” the size of the Boston-based team, hiring in key roles such as HR, marketing, customer success and sales operations while also offering flexibility to new hires.

A spokesperson later said the company plans to hire up to 400 employees in the Americas over the next three years with the majority based out of the Davis Square headquarters.

Mirakl, which first established its U.S. presence in 2014, helps organizations launch and grow an enterprise marketplace on their e-commerce sites. The company became a so-called “unicorn” with a $1 billion valuation one year ago. The company’s Davis Square headquarters employs the “vast majority” of its 130-plus U.S. employees, according to a spokesperson.

Demand for Mirakl’s marketplace solutions has been accelerating since the company raised $300 million last year, Nussenbaum said.

“We decided that, given the goals we have in terms of aggressive hires, investment in technology, international expansion, potential acquisitions, it would be the right moment to do this kind of massive round because it tells the market also that this company is here to stay for a very long time,” he said.

Going public is not in Mirakl’s immediate plans, Nussenbaum said, but becoming a publicly traded company would be a natural step to take at some point.

“Would I be proud one day if Mirakl goes public? Yes, I would be very proud,” he said. “It would be great to have an originally French, Boston-established company that really became a global player because it moved to the U.S. and it moved to Boston, and it found great talents.”

Originally posted on September 21, 2021, by Lucia Maffei, Boston Business Journal