SaaS Firm Mirakl Nets $555M to Expand eCommerce Offerings

Software-as-a-Service (SaaS) firm Mirakl has raised $555 million in a Series E funding round led by Silver Lake, per a Tuesday (Sept. 21) press release.

The company’s valuation is now $3.5 billion, more than twice what it was at the time of its last funding round in September 2020.

Mirakl has thrived as companies have continued to digitize due to the pressures of consumer demand, decreased margins and competition from other digital companies.

With the new funding, Mirakl plans to invest in tech, expertise and the partner ecosystem, and add to its teams to help to meet the aforementioned bigger need for digital commerce. The company plans to hire 350 engineers, growing the team to 500 by 2023. That will help with extending end-to-end capabilities and scalability, including boosting artificial intelligence (AI) and automation.

The company also plans to double the size of its customer success organization and expand the size of Mirakl Connect, which is an ecosystem of marketplace-ready sellers that can help enterprises boost their launches.

And in addition the company plans to expand to new areas, including growing the Paris and Boston headquarters and adding services in EMEA, the Americas and Asia Pacific. And the company will be exploring new business opportunities.

“The world has shifted irreversibly towards eCommerce, and the enterprise marketplace model has clearly emerged as the only solution that will enable businesses to survive in a competitive global sales environment,” said Adrien Nussenbaum, co-CEO and co-founder of Mirakl.

Also read: Mirakl Predicts The Marketplace-Led Future Of Online Grocery

Earlier in the year, Mirakl partnered with United Natural Foods in order to help that company engage more competitively in the online grocery space.

Nussenbaum said at the time the point of the merger was to make it easier for shoppers to order eCommerce products while shopping in store.

“By extending the aisle with third-party sellers online, grocers can offer more (and more relevant) products, giving customers the experience that they expect with fewer out-of-stocks and convenient ship-to-home capabilities,” he said.