Mirakl have announced a massive 110% year-over-year revenue growth and over $3.1B (£2.26B) in gross merchandise value (GMV) transacted on their customers’ Mirakl-powered Marketplaces in 2020. Record Mirakl growth saw them sign up 73 new customers and launch 55 new marketplaces during the year.
The record Mirakl growth should be no surprise with much of the high street closed around the world and many bricks and mortar retailers never to open again. It’s worth noting that when a retailer such as Debenhams close it’s not just their business that’s impacted. They have a ton of concessions in their stores and those brands also lose their footprint on the high street. There’s a ready market of brands who need to build a new route to market and retailers who need to get their businesses online and marketplaces give ever more reasons for a consumer to visit their websites.
The news follows Mirakl’s securing of $300M (£219M) in series D funding led by the UK’s Permira, placing the company’s valuation over $1.5B (£1.09B), and demonstrating Mirakl’s unique ability to enable the world’s leading organisations to seize the platform opportunity.
Ecommerce accelerated dramatically in 2020 and marketplaces captured a disproportionate share of that growth – UK consumers are now four times more likely to buy from an online marketplace than a retailers’ own website. In order to capitalise on this opportunity, leading enterprises chose Mirakl for its best-of-breed SaaS solution, expertise, and Mirakl Connect ecosystem. As a result, Mirakl signed a record 73 new customers in 2020, including numerous Global 2000 companies, while launching 55 new marketplaces.
2020 also saw the company strengthen its presence in the UK market, announcing plans to invest $31M (£23M) by 2022, with London being used as a hub to accelerate growth throughout Europe. This expansion is already bearing fruit, with Mirakl marketplaces enabling retailers to unlock valuable new revenue streams despite lockdown restrictions. During the Black Friday period, sales on Mirakl-powered marketplaces increased by 60% compared to 2019.
“2020 was the ultimate test that proved the resilience and agility of the platform model, and through it all, Mirakl’s best-of-breed marketplace solution rose to the challenge. We remain committed to offering the most advanced, reliable, and secure enterprise marketplace platform on the market, so that every one of our customers continues to thrive.”
– Philippe Corrot, co-founder and CEO, Mirakl
“We chose to partner with Mirakl on our marketplace because of their proven expertise and first-class technical solution. In 2020 we saw excellent growth increasing our customer base to 1.3 million and growing our online offering to 35,000 products from more than 800 established niche, independent and challenger brands.”
– Sarah Miles, Chief Executive Officer, Feelunique
Mirakl also expanded its global team, with 270 new hires in 2020 and has plans to hire 1,000 employees over the next three years. In the UK, Mirakl’s in-region team grew by 54%, with key hires including a Director of Business Consulting, Senior Director of Alliances & Partner Sales EMEA, and a Vice-President of Corporate Development. This growth trajectory will continue in 2021, with further hires planned across all departments in the UK.
Other major Mirakl business highlights for 2020 include:
- Signing several marquee global brands across industries including BayWa AG, Galeria Inno, La Redoute, Musgraves, SalonCentric, TradeInn, UNFI, and many more.
- Launching new marketplaces:
- B2B including: ABB, Airbus Helicopters, Thales, Maykers, TetraPak and Z-Tech (part of ABInBev).
- B2C, including: Carrefour France, Changi Airport, Decathlon Belgium, H&M Home, The Kroger Co., La Poste, Leroy Merlin France, Maisons du Monde, and Verishop.
- Launching, in under 48 hours, a B2B marketplace, StopCovid19.fr in response to French President Macron’s “Tech for Good” initiative, resulting in the first and only COVID-focused marketplace providing critical protective and sanitation supplies to address shortages and resolve supply chain issues. Since launch, the site has delivered over 125 million masks, more than 1 million liters of hand sanitizer, 13 million gloves and 80,000 antigenic tests to over 6,135 healthcare facilities and 23,170 enterprises.
- A testament to the company’s broader impact, Mirakl earned global recognition as a Technology Pioneer by the World Economic Forum for empowering B2B and B2C organizations to disrupt traditional industries and thrive in the digital age by platforming their businesses.
Further, in just six months, Mirakl doubled the size of its Mirakl Connect global marketplace ecosystem, becoming the world’s only independent network of curated, high quality, marketplace sellers and value-added services and solutions. Mirakl Connect ensures Mirakl-powered Marketplaces launch faster and grow bigger across industries. In 2020 operators who accessed Mirakl Connect saw up to 30% increase in their Marketplace GMV.
“Our customers, who we celebrate as Platform Pioneers, are redefining go-to-market strategies to lead in this digital-first economy, achieving remarkable growth in one of the most challenging economic environments in recent memory. We’re proud to stand alongside them and celebrate their successes – and to those who have yet to start their platform journey, there’s no better time to get on board.”
– Adrien Nussenbaum, co-founder and U.S. CEO, Mirakl
