International

Mirakl Bags $20M To Expand Online Marketplace Platform

French online marketplace tech firm Mirakl said Wednesday (July 22) that it had closed a $20 million round of Series B funding.

In a statement, the firm stated the latest financing was led by 83North’s Laurel Bowden, who has invested in firms including Just Eat and Notonthehighstreet), Dave Strohm, a partner at Greylock, and Felix Capital’s Frederic Court.

Mirakl, which said it saw growth of 200 percent in the 2013 to 2014 time frame, said the proceeds from the financing will be used to garner business from a greater number of B2B and B2C retailers worldwide. The current roster of 55 customers across 11 countries includes 22 brought onboard this year.

Mirakl has its headquarters in Paris, France. The company, which launched in 2012, also has offices in London and a presence in the United States in Boston.

The release noted that the Mirakl round is among the largest garnered by a French firm. And in discussing the international expansion plans, the company said that following the 2014 opening of its first U.S. office, Mirakl will continue to push into the states as a “key growth market.”

Research firm IDC says the SaaS enterprise applications market is slated to be worth as much as $50.8 billion by 2018.

“Any smart retailer in 2015 should have an online marketplace, or be considering it as an option,” said Adrien Nussenbaum, co-founder and U.S. CEO of Mirakl, in the release detailing the fundraising. “Consumers want choice, service and competitive pricing and an online marketplace delivers all three, allowing controlled growth and the ongoing improvement and refinement of the customer experience. It doesn’t matter if your business model is B2C or B2B, an online marketplace will help you reach and service customers better than ever before.”

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