Adrien Nussenbaum, CEO, Mirakl. Photo credit: Mirakl

Mirakl, an e-commerce upstart that provides software used to power online marketplaces, has announced that it’s raised $300 million in funding led by UK-based private equity firm Permira, with participation from 83North, Bain Capital Ventures, Felix Capital, and Elaia Partners. The new funding brings the total raised by Mirakl since its inception to $400 million and values the company at over $1.5 billion. Mirakl says it’ll use the new funding to expand its team and business, with the company planning to hire 300 additional engineers over the next three years.

As of late, specifically on the heels of the coronavirus pandemic, Mirakl’s business has boomed, with the company reporting a record $1.2 billion in Gross Merchandise Volume in the first half of this year, up over 100% compared to the previous year. Mirakl has courted over 300 customers across 40 countries, customers including big names like Best Buy, Toyota, Urban Outfitters, and Hewlett Packard Enterprise. The coronavirus crisis has widely reduced in-person shopping and as a result, boosted the demand for e-commerce transactions. Mirakl is an apparent benefit of the shift towards more e-commerce transactions as the company provides e-commerce software used to power online marketplaces. It’s such that Mirakl onboarded 25 new customers and launched 18 new marketplaces in the first half of this year.

Mirakl was advised by Allen & Company LLC for its new funding round. The company, based out the French city of Paris, currently has offices across the US, Germany, Spain, and Brazil in addition to its French headquarters.

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