Mirakl: ‘recurring revenue €87 million in 2021’

Marketplace solution provider Mirakl has realized a recurring revenue of 87.44 million euros (100 million dollars) in 2021. The company is now valued at 3.1 billion euros. To support its growth, the company expects to recruit 400 new employees this year.

Mirakl is a French marketplace solution provider, that offers a SaaS solution for customers to create and manage marketplaces. Today, the company announced its recurring revenue for the first time. The 87 million euros come from paid subscriptions to the platform.

Business volume of €3.8 billion

In addition, the company won 80 new customers and developed 66 new marketplaces in 2021. Some of these new customers are large players, such as Macy’s in the United States. These explain the strong growth in recurring revenue.

‘Mirakl achieved a 38% year-on-year increase in its business volume.’

The company realized a business volume of 3.8 billion euros, which is a 38 percent year-on-year increase. In September last year, Mirakl raised 468 million euros in a Series E funding round. This funding brought the company’s value to 3.06 billion euros, which was a 230 percent increase when compared to the year before.

Growth of marketplaces

That funding was used to enhance its global marketplace ecosystem Mirakl Connect, as well as launching a dropshipping solution for its customers. The platform also streamlined its sales management features and security. “2021 proved that there is no stopping the growth of the marketplace economy”, said Philippe Corrot, co-founder and CEO, Mirakl.

‘There’s no question that marketplaces will play an integral role in business’ ecommerce strategy.’

“As we look ahead to 2022, there’s no question that marketplaces will play an integral role in every business’ ecommerce strategy. Marketplaces will soon provide a 360 degree solution, and we see Mirakl at the center of that offering.”

1.700 new hires in 3 years

The platform is planning to create more automated features for Mirakl customers. “We have recruited 350 people in 2021, a 75 percent increase in the size of our team and expect to make 400 recruitments in 2022. Our company now has 650 employees”, said Florian Bressand, general manager of Mirakl. The company expects to hire 1.700 employees in the next 3 years to support its growth.