Mirakl company profile: valuation, funding & revenue

This Mirakl company profile covers the company's valuation, revenue, funding rounds, investors and history. Mirakl works in e-commerce software, with a focus on marketplace and dropship platforms. It was founded in 2012 and is headquartered in Paris, France. Its latest valuation on record is US$3.5 billion (September 2021). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

US$218 million ARR, up 23%; full-year profitability at group level — ARR (company-reported), as of 2025. Source: Mirakl.

Funding history

Mirakl timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2012 — Mirakl is founded in Paris by Adrien Nussenbaum and Philippe Corrot (co-CEOs).
• Aug 2023 — Debt financing: About US$110M.
• Sep 2021 — Series E: US$555M, valuing the company at US$3.5B. Investors: Silver Lake (lead); Permira, Bain Capital Ventures, 83North, Elaia.

Investors

Overview

Mirakl provides software that lets retailers, brands and business-to-business distributors run online marketplaces. Instead of selling only products they buy and stock themselves, companies using Mirakl let third-party sellers list products on their websites, much as Amazon does, expanding their range without holding extra inventory. Mirakl also offers dropship software, retail media (advertising inside marketplaces) and payments. Hundreds of large companies worldwide use its platform.

Adrien Nussenbaum and Philippe Corrot founded Mirakl in Paris in 2012 and run it as co-CEOs. Corrot had previously built e-commerce technology and Nussenbaum came from a strategy and finance background. The company has offices in Europe, North America and Asia-Pacific, with Boston as its main US hub.

What retailers use it for

• Marketplaces: onboarding sellers, managing product listings, orders, commissions and seller performance on a retailer's own website.
• Dropship: letting suppliers ship directly to customers while the retailer controls the catalogue and pricing.
• Retail media: selling advertising to brands and sellers on the marketplace, a high-margin revenue stream.
• Payments: handling payouts to sellers and related financial flows.
• Mirakl Nexus and agentic commerce: newer AI products aimed at helping retailers and brands sell through AI shopping agents and manage catalogues automatically.

Customers have included retailers such as Macy's, Kroger, Decathlon and Carrefour, as well as industrial distributors selling to businesses.

Business model

Mirakl charges subscription fees for its platform plus fees linked to the value of goods sold through customers' marketplaces. That aligns its revenue with its customers' success: as marketplaces grow, Mirakl earns more. Its ancillary products, especially retail media, add further revenue streams.

2025 results

Mirakl said annual recurring revenue grew 23% to US$218 million in 2025 and that it reached full-year profitability at group level, a notable milestone for a software company of its size. It also reported early traction for its newer products.

Funding

Mirakl raised about US$1 billion in total, mostly in 2020 and 2021 when e-commerce investment boomed. Its September 2021 Series E of US$555 million, led by Silver Lake with Permira, Bain Capital Ventures, 83North and Elaia, valued it at US$3.5 billion, making it one of France's most valuable startups at the time. In 2023 it added debt financing rather than new equity. We haven't found a newer priced round, so the 2021 figure remains its last valuation. After the 2022 market correction, software multiples fell sharply, so a new round today could price differently.

Competition

Mirakl competes with commerce platforms that offer marketplace modules, such as Salesforce Commerce Cloud and commercetools, specialist marketplace software firms, and in-house technology at large retailers. Its advantages are its focus, enterprise customer list and the expertise it has built in running large marketplaces, including seller recruitment and quality management.

Mirakl at a glance

Mirakl is a Paris marketplace software company founded in 2012 by Adrien Nussenbaum and Philippe Corrot. It reported US$218 million in ARR for 2025, up 23%, with full-year profitability at group level. It raised a US$555 million Series E at US$3.5 billion in September 2021, led by Silver Lake.

Why retailers build marketplaces

Traditional retailers buy stock, store it and take the risk of unsold goods. A marketplace lets them offer far more products, often many times their own range, without that risk, because third-party sellers own the inventory. Retailers earn commissions, attract more visitors and gather data on what customers want. The model helped Amazon become dominant, and many retailers have adopted it to compete. Running a marketplace well is difficult, though: sellers must be vetted, product data cleaned, and customer service maintained, which is where specialist software and expertise help.

Retail media's growing importance

Retail media, advertising sold by retailers on their own websites and apps, has become one of the fastest-growing segments of the advertising market. Brands pay to appear in search results and product pages at the moment shoppers are ready to buy. Because marketplaces bring more sellers who want visibility, they expand the pool of advertisers. For retailers, retail media revenue is mostly profit, which makes it strategically important, and for Mirakl it's an opportunity to sell more software.

Valuation reset context

Many companies that raised at peak valuations in 2021 have since grown into, or below, those numbers. Mirakl's profitability and continued growth put it in a stronger position than many peers. Our guide to down rounds explains what happens when a company raises at a lower valuation than before, and our guide to SaaS valuation multiples shows how investors price software today.

For retailers evaluating marketplace software

• How quickly can you launch, and how many sellers will you need?
• Who handles seller recruitment and quality control?
• How does pricing scale with sales through the marketplace?
• Can the platform support retail media and AI shopping channels?

B2B marketplaces: a newer frontier

Marketplaces are spreading from consumer retail to business purchasing. Industrial distributors, office suppliers and manufacturers want to offer customers a broader catalogue, including parts and products from other suppliers, through a single ordering website. Business buyers increasingly expect the same convenience they get as consumers: search, comparison, fast checkout and reliable delivery. That shift opens a large market for marketplace software, because business-to-business commerce is far bigger than consumer e-commerce in total value. B2B marketplaces also have specific needs, such as negotiated prices per customer, purchase approvals and invoicing on credit terms, which require specialised features.

Mirakl has made B2B a priority and counts a growing number of distributors among its customers. Success in this segment could become one of its main drivers of growth over the next decade.

AI shopping agents

A new question for retailers is how to sell when customers increasingly use AI assistants to research and buy products. If a shopper asks an AI assistant to find the best running shoes under a certain price, the retailer's products need to be described accurately and be available in formats AI agents can read and transact with. Mirakl's newer products aim to help retailers manage product data for this "agentic commerce" and connect their marketplaces to AI shopping channels. It's early, but retailers are watching closely.

Next steps to watch

Watch ARR growth, adoption of AI commerce products, new enterprise customers, any new funding round or IPO, and how the 2021 valuation compares with a future price.

Latest developments (October 2026)

Our October 2026 review found no new equity round for Mirakl after its 2021 Series E at US$3.5 billion, which remains the latest sourced valuation. The Paris company, which also took on about US$110 million of debt in 2023, says its marketplace software powers more than 450 marketplaces. See our largest French startups guide.

Takeaways

Retailers can expand ranges quickly without inventory risk. Founders can learn from Mirakl's path to profitability after heavy 2021 funding. Investors should compare its ARR, profitability and growth with today's software multiples.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. Tracxn
2. Mirakl