Bain Capital Venture et al. invest $70m in Mirakl

The investment is led by new investor Bain Capital Venture and existing shareholders Elaia Partners, 83 North and Felix Capital. 

Proceeds will be used for recruitment efforts, product development and the expansion of the business in the US – where the company set up an office in Boston in 2014.

The business has raised $100m since inception, according to a statement. 

US-based Bain Capital Ventures invests from seed to growth stages in startups in security, cloud infrastructure, logistics, e-commerce, finance and healthcare. Founded in 2000, Bain Capital Ventures has $4.9bn in assets under management. 

Previous funding
Unquote previously reported that Mirakl first received institutional funding in December 2012, when French VC Elaia Partners teamed up with business angels Xavier Niel and Laurent Dassault for a €2.2m early-stage round for the business.

Subsequently, VC houses 83North and Felix Capital took part in a $20m series-B round alongside business angel Dave Strohm in 2015. The round was led by 83North; the London-headquartered firm was believed to have invested in Mirakl via its third fund. Felix drew equity from its $120m maiden fund.

Company 
Founded in 2012 and based in Paris, Mirakl develops software-as-a-service for B2B and B2C companies to launch online marketplaces.

In 2018, Mirakl added 60 new customers and launched 37 marketplaces. The business expects revenues of €25-40m in 2019, according to French daily Le Figaro.

The company's 200 customers include Urban Outfitters, Hewlett Packard Enterprise, Best Buy Canada, Carrefour, Siemens, Toyota Material Handling and Walmart Mexico.

People 
Mirakl – Philippe Corrot, Adrien Nussenbaum (co-founders). 
Bain Capital Ventures – Scott Friend (partner).

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