The funding round led by Silver Lake takes the valuation of the company to more than $3.5bn
Mirakl takes its valuation to over $3.5bn following a Series E funding round. (Credit: StockSnap from Pixabay)
Mirakl, a French cloud-based e-commerce software company, has raised $555m in a Series E funding round for its enterprise marketplace SaaS platform.
The new funding round, which was led by technology investment firm Silver Lake, took the company’s valuation to over $3.5bn.
It also saw the participation of Mirakl’s long-term investors, which include 83North, Felix Capital, Elaia Partners, and Permira.
Silver Lake EMEA managing director and co-head Christian Lucas said: “For more than two decades, Silver Lake has successfully identified and supported many of the world’s most disruptive technology and technology-enabled companies, and we are thrilled to partner with Mirakl as it enters its next phase of growth.
“This is an extraordinary time for eCommerce, and we see Mirakl as a generational company with a uniquely compelling opportunity to capitalise on that momentum.”
In the previous Series D round held in September 2020, Mirakl had secured $300m. The funding round led by Permira had then valued the company at $1.5bn.
The French e-commerce software company has so far raised $955m through various funding rounds.
Its marketplace SaaS platform helps B2B and B2C organisations in launching and growing an enterprise marketplace at scale. Using the platform, B2B and B2C businesses can make more products available for buyers, increase the lifetime value of customers, and anticipate the needs and preferences of buyers.
Mirakl’s enterprise marketplace platform is claimed to be used by more than 300 brands such as ABB, Carrefour, Express, Accor, Toyota Material Handling, Leroy Merlin, Airbus Helicopters, and The Kroger Co.
The company said that the latest funding will help it strengthen its position in enterprise marketplaces. It will also let the company continue to invest significantly in its technology, expertise, and partner ecosystem.
Besides, the proceeds from the funding will be used for expanding the company’s teams to help cope up with the accelerating adoption of the marketplace model.
Mirakl CEO and co-founder Philippe Corrot said: “When we founded Mirakl, it was in the belief that the world was moving toward an era of customer-centricity, that would break traditional business models and require leaders to transform to bring their customers greater choice, more services, and the ability to buy whenever they wanted and wherever they wanted.
“It was an ambitious vision, and we have taken bold steps to pursue it, always in partnership with our customers.”