Mirakl Sets Up $ 555 Million To Expand Ecommerce Offerings
Software as a service (SaaS) company Mirakl has raised $ 555 million in a Series E funding round led by Silver Lake, according to a press release on Tuesday, September 21.
The company’s valuation is now $ 3.5 billion, more than double what it was in its last round table in September 2020.
Mirakl flourished as businesses continued to digitize due to pressures from consumer demand, falling margins, and competition from other digital companies.
With this new funding, Mirakl plans to invest in technology, expertise and partner ecosystem, and strengthen its teams to help meet the aforementioned greater need for digital commerce. The company plans to hire 350 engineers, bringing the team to 500 by 2023. This will help expand end-to-end capabilities and scalability, including strengthening 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, an ecosystem of market-ready vendors that can help businesses boost their launches.
In addition, the company plans to expand into new areas, including expanding headquarters in Paris and Boston and adding services in the EMEA region, the Americas and Asia-Pacific. And the company will explore new business opportunities.
âThe world has irreversibly turned to e-commerce and the enterprise market model has clearly emerged as the only solution that will allow businesses to survive in a competitive global sales environment,â said Adrien Nussenbaum, co – CEO and co-founder of Mirakl.
Read also : Mirakl predicts the future of market-driven online grocery shopping
Earlier this year, Mirakl partnered with United Natural Foods to help that company enter the online grocery space more competitively.
Nussenbaum said at the time that the purpose of the merger was to make it easier for shoppers to order e-commerce products while shopping in-store.
“By expanding the aisle with third-party online sellers, grocers can offer more (and more relevant) products, giving customers the experience they expect with less stock-outs and up-to-date delivery capabilities. home practices, âhe said.