mirakl

Mirakl Closes $20M Series B From VCs That Love Online Marketplaces

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Who says France can’t produce startups? Online marketplace startup Mirakl has just closed a $20m Series B round of funding led by 83North with participation from new fund Felix Capital, and Dave Strohm, Partner at Greylock and a founding investor and advisor to 83North. The cash will be used to take its platform to more B2C and B2B retailers globally. Why? Well, Mirakl claims it achieved growth of 200% from 2013 to 2014 and signed 22 new customers in 2015 alone, plus marketplaces are a key trend so VCs are taking positions in any that they can. Just look at Wallapop in the C2C space. It’s notable that 83North has already funded complementary businesses such as hybris, Just Eat and Notonthehighstreet.

This is one of the largest funding rounds with a French firm this year, but the company already has an American office and strong growth in the US. Current B2C customers include Darty, Galeries Lafayette, Best Buy, GAME and Harvey Nichols and 55 customers across 11 countries in total.

It’s also a big market. IDC says the SaaS enterprise applications market is forecast to increase to a total of USD $50.8 billion by 2018. Meanwhile ,Statista projects retail commerce to grow to USD $2.39 trillion by 2018.

Adrien Nussenbaum, co-founder and US CEO, Mirakl, says “Any smart retailer in 2015 should have an online marketplace, or be considering it as an option” because “consumers want choice, service and competitive pricing and an online marketplace delivers all three.”

Bowden says “We are getting ever closer to a time where every sector, be it art, professional services or travel, will be utilising online marketplaces.”

Mirakl is headquartered in Paris and also has offices in London and Boston. It was launched in 2012 by Philippe Corrot and Adrien Nussenbaum.