
Revenue
$177.00M
2024
Growth Rate (y/y)
15%
2024
Funding
$948.00M
2023
Revenue
Sacra estimates Mirakl hit $177M in annual recurring revenue (ARR) in 2024, growing 15% year-over-year from $15M in 2023.
Mirakl generates revenue primarily through SaaS subscription fees for its enterprise marketplace platform, with pricing based on factors like project complexity, number of categories, and feature modules activated. Additional revenue streams come from value-added services including Mirakl Ads (retail media), Mirakl Payout, and professional services for implementation and integration.
The company serves over 350 enterprise clients across 40 countries, including major retailers like Macy's, Best Buy Canada, and H&M Home, as well as B2B organizations like Airbus Helicopters and Hewlett Packard Enterprise. Gross merchandise value (GMV) processed through Mirakl-powered marketplaces reached $7.25B in 2023, though Mirakl's take rate has decreased from 4.5% in 2015 to approximately 2% in 2024 as the company shifted focus to enterprise SaaS revenue.
Notably, Mirakl has maintained profitability while scaling rapidly, with strong net revenue retention rates driven by expanding usage among existing customers. The company's enterprise focus and comprehensive feature set command premium pricing, with first-year costs typically starting around $493,000.
Valuation
Mirakl reached a valuation of $3.5 billion in September 2021 following a $555 million Series E funding round led by Silver Lake. The company has raised a total of $1.058 billion across 7 funding rounds since its founding in 2012.
Key investors include Silver Lake, Permira, Bain Capital Ventures, and Felix Capital. The company's most recent financing was a $109.94 million line of credit in August 2023, provided by major banks including BNP Paribas, HSBC, and J.P. Morgan.
Based on Mirakl's 2021 annual recurring revenue of $106 million, the company's last known valuation represents approximately 33x ARR.
Product
Mirakl was founded in 2012 by Philippe Corrot and Adrien Nussenbaum, who previously built and sold an online video game marketplace to FNAC. Their experience running both an independent marketplace and one within a major retailer gave them unique insights into the challenges of marketplace operations.
Mirakl found product-market fit as a SaaS platform that enables large retailers to launch and operate their own third-party marketplaces, with early adopters including major European retailers like Darty, Fnac and Carrefour who needed to compete with Amazon's marketplace model.
The core Mirakl platform allows enterprises to create customized marketplaces where third-party sellers can list and sell products alongside the company's own inventory. When a customer places an order through a Mirakl-powered marketplace, the platform automatically routes it to the appropriate seller, manages the payment processing, and tracks fulfillment.
For marketplace operators, Mirakl provides tools to onboard and manage sellers, maintain product catalogs, and analyze performance. The platform integrates with existing e-commerce systems while handling the complex orchestration required for marketplace operations.
Mirakl has expanded to serve both B2C and B2B use cases, with additional capabilities like AI-powered categorization, retail media tools, and a global ecosystem of pre-vetted sellers through Mirakl Connect. The platform maintains 100% uptime even during peak demand periods, making it suitable for enterprise-scale operations.