Enterprise marketplace platform Mirakl raises $555M

Mirakl, a platform applied by businesses such as Kroger, Siemens, and HP Enterprise to develop on the internet marketplaces, has raised $555 million in a series E round of funding led by Silver Lake. The French firm is now valued at $3.5 billion.

Founded in 2011, Mirakl offers tools to aid B2B and B2C businesses simply launch, handle, and develop marketplaces. It’s all about “unlocking the power of the platform,” assisting firms greater compete with ecommerce giants like Amazon and Alibaba.

Transform

In the wake of the pandemic, “digital transformation” is altering the face of just about just about every market, and with that comes developing expectations about what’s achievable by means of on the internet channels. Along with “shrinking margins and new competitive pressures,” this has made fertile ground for Mirakl to flourish, according to co-CEO and cofounder Adrien Nussenbaum. Indeed, Mirakl reported a 90% development in bookings worth year-on-year for the duration of the 1st half of 2021.

“Where cost-cutting and tweaking operational processes may have helped in the past, they no longer hold up against new competitors and digital giants,” Nussenbaum told VentureBeat. “Only an enterprise marketplace can enable businesses to meet the rising demands of their customers in an agile, scalable way. By tapping into networks of high-quality, trusted marketplace sellers, businesses with marketplaces are able to quickly respond to customers’ demands with lower costs and less risk than the traditional first-party ecommerce model.”

The Mirakl platform constitutes quite a few components, every tailored for distinctive marketplace use situations, like B2B, B2C, and services. Mirakl also provides a catalog manager that aids operators and merchants handle their item information and inventory, automatically eliminate items that do not meet precise requirements, and more.

Mirakl is also constructed on a modular foundation with APIs at its core, created to aid firms integrate their marketplace with all their current tools and technologies. There are also prebuilt integrations with the likes of Magento and Salesforce’s Commerce Cloud to make it a lot easier to share information across ecommerce platforms.

The Paris-based firm, which also has a U.S. hub in Boston, had previously raised about $393 million, the lion’s share arriving through its series D round last year. With an additional $555 million in the bank, the firm is nicely-positioned to double down on its current development, like hiring some 250 engineers and pursuing prospective “acquisition opportunities.”

Aside from lead investor Silverlake, other notable participants in Mirakl’s series E round contain 83North, Elaia Partners, Felix Capital, and Permira.

Originally appeared on: TheSpuzz