Mirakl’s ambitions around marketplaces

Last September, French publisher Mirakl raised $ 255 million to bolster its market technology, expand internationally, and deliver its Mirakl Connect hub, which will connect its marketplaces together. It is planned to recruit a thousand people in 3 years.

Mirakl’s market technology is gaining momentum worldwide. The Paris-based publisher is surfing the platform economy, where retailer site operators are on board third-party providers, a model that has achieved the success of Amazon, a pioneer of the genre, or Alibaba. Mirakl was founded in Paris in 2012 by Philippe Corrot and Adrien Nussenbaum and raised EUR 255 million in Serie D last September. This is the most important financing round to date for a French start-up. With a value of almost 1.3 billion euros, the company joins the European unicorns. The SaaS solution – Marketplace Core and its various modules – enables retail chains and, in a broader sense, all manufacturers to create and operate a B2C or B2B marketplace in which they integrate third-party providers and their products. by paying a commission for transactions. Mirakl has more than 300 customers worldwide, including 11 of the 40 largest sales groups. In France, Carrefour, Auchan, Fnac-Darty, Conforama, the Galleries Lafayette, Go Sport, Chronopost and many others have adopted their technology. Mirakl’s strength also lies in the fact that it has established itself very quickly with major brands on the other side of the Atlantic, such as the electronic product chain Best Buy in Canada and now the American Kroger, the world’s leading No. 3 distributor. In B2B mode it has customers such as ABB, HPE, Siemens Mobility and Toyota Material Handling.

With its fundraising campaign, led by Permira with its historic investors (83North, Bain Capital Ventures, Elaia Partners and Felix Capital), the French publisher will take the next step with the launch of the Mirakl Connect platform. The aim is to become a central hub for all marketplaces. “Mirakl Connect is designed to serve third party vendors and connect to all Mirakl marketplaces and beyond,” said Dickel Sooriah, vice president of EMEA Marketing for the company. “To develop an ecosystem where both third-party vendors by product category and technology partner can meet, you can connect to multiple marketplaces much more easily and reduce your dependence on Amazon.” Mirakl also wants to accelerate the use cases of B2B commerce, the one Represent a market of more than $ 1,000 billion.

1000 recruits over 3 years, including 300 engineers in France

In France, Mirakl is one of the publishers of Next 40, which was created by the French state to produce industry leaders with a strong interest in employment. The Paris-based publisher with 350 employees plans to hire more than 1,000 people worldwide over the next three years. Of the 1,000 jobs created in France, 300 engineering positions will be opened for Mirakl’s R&D in Paris and Bordeaux. The funds raised will also be used to continue investing in technology. The AI-based automation functions improve the operational efficiency of the users.

The interest of the platform model for a trader or an industrialist is to be able to expand his offer without running the risk of buying himself, controlling his margins, building up an inventory and managing it. All of this is the responsibility of the sellers who join their market. Dealers or manufacturers are satisfied with presenting their products on the market where it is clear that the seller is not the operator of the website, but a third party, recalls Dickel Sooriah. With the help of connectors, Mirakl can be integrated into e-commerce software – Magento, Shopify, Salesforce, SAP Commerce Cloud … – so that a retailer or other provider can massively open their catalog to other categories of products. “With this technology, the catalogs of thousands of partner sellers can be brought into the platform, and scaling is much easier as everyone is interested in success: the third party understands that their role is to merchandize the product while the operator of the E-commerce website represents the most logical range in terms of its identity and brand, ”emphasizes the VP Marketing EMEA.

The Covid epidemic accelerates the need for transformation

Mirakl is a product made in France and a world leader in its market. “We can have local competitors by country, but our biggest competitor today is internal development,” explains Dickel Sooriah. However, if large companies could be tempted to shape their own market, this type of transaction platform includes the connection to a large number of heterogeneous applications beyond e-commerce frontends: online payment with integration of the various taxes, enrichment of product data, digital marketing , Online promotional mechanisms for sellers, audience impact measurement tools, etc. The Mirakl SaaS solution enables this integration to be implemented and maintained through APIs while providing a layer of operator experience to support tens of thousands or hundreds of thousands of third-party vendors at the same time ensure daily management. for the operator and for third-party sellers.

While Mirakl began its inception with retail businesses, it has since tackled many other sectors: aerospace, automotive, pharmaceuticals, transportation, so many areas where traditional players are disrupted or become platform economics. Many manufacturers need this technology and Mirakl will help them develop their strategy. This is how Thalès launches its defense market. In another area, La Poste is expanding its services for office products for SMEs. The Covid-19 epidemic has accelerated this need for transformation, and even with distribution, mutations still need to be made. This summer, Mirakl signed a contract with Galeria Inno, a Belgian department store chain that has not yet had an e-commerce presence and will open its store in spring 2021. This transformation is accompanied by a partnership with Salesforce. Since the beginning of the year, Mirakl has won 25 international customers. In the first half of 2020, the marketplaces generated a business volume of more than 1.2 billion US dollars.