The start of a new year is always an opportunity to reflect back on the year that was. At Mirakl, 2019 was a landmark year for us, our customers, and our partners. I’m proud to say that last year, Mirakl experienced 77% year-over-year revenue growth and closed $70M in series C funding led by Bain Capital Ventures, furthering our mission of empowering businesses to lead in the platform revolution.
A growing number of leading industry incumbents are leveraging the platform model to establish themselves as platform leaders, and last year, Mirakl brought on 49 of these organizations as customers, including Airbus Helicopters, Changi Airport, NBC Universal, Thales, and Shufersal.
Mirakl’s customers – our Platform Pioneers – also had a truly remarkable year in 2019. Mirakl-powered Marketplaces achieved over $1.5B GMV, with 1 million orders processed during Black Friday alone. A record 41 new Mirakl-powered Marketplaces were launched last year, from B2B incumbents including ABB Electrification, Coperama, Metro Cash and Carry, Premier, and Toyota Material Handling, as well as B2C leaders like Brico Prive, Joules, Maisonette, Simon Properties, and Thoughtfull by Indigo Books & Music.
2019 brought remarkable validation of the power of the marketplace model from industry experts. A comprehensive commissioned study conducted by Forrester Consulting on behalf of Mirakl quantified the ROI of a Mirakl-powered Marketplace, finding that it can deliver a significant 162% return on investment within three years and drive revenue up by $412 million over three years.
Mirakl was also included in Gartner’s Hype Cycle for Digital Commerce, 2019 as a Sample Vendor for marketplace operation applications within the Enterprise Marketplace. Gartner gave the Enterprise Marketplace business model a “high” benefit rating in the 2019 Hype Cycle for Digital Commerce, stating:
“When done right, there are many benefits. It helps enterprises enrich product offerings, reduce selling or procurement costs, test new items or categories before adding them to the product catalog, and improve the customer experience by making the process more transparent and efficient.”
A critical component of the engine behind our customers’ success is the Mirakl Marketplace Platform. Mirakl made continual investments in our technology platform and AI in 2019, making it easier for operators and sellers to handle data quality at scale and grow their marketplace opportunity. We also announced new product enhancements that keep pushing us to the top of the class, including:
- The launch of Mirakl Connect, the Global Marketplace Ecosystem – a first-of-its-kind platform connecting marketplace operators with sellers and partners to accelerate the growth of new platform strategies
- The release of the Mirakl Connector for Magento Marketplace Sellers, which gives brands, retailers, and distributors using Magento Commerce an even easier way to sell products and manage operations across Mirakl-powered Marketplaces
- Passing the Service Organization Control (SOC) 2 Type I audit, in accordance with the American Institute of Certified Public Accountants (AICPA) Trust Services Criteria (TSC), to continue delivering best-in-class data security and governance for our customers
We also celebrated the fifth year of Mirakl’s annual Summit in Paris, as well as the inaugural Summit in Boston. More than 600 market-leading organizations, innovative technology partners and top industry analysts from across the globe came together for the two events to celebrate the power and potential of the marketplace model.
And of course, Mirakl wouldn’t be where it is today without our trusted partner network. We forged new partnerships in 2019 with industry leaders including Accenture, Avensia, BORN, Deloitte Digital, Gorilla Group, Optaros by MRM//McCann, Salesforce, ShipStation and Xplore Group to help organizations implement a winning platform strategy.
“We are proud to see our Platform Pioneers leveraging Mirakl solutions to reinvent commerce as we know it, and reap the benefits of a platform business model,” said Mirakl co-founder and CEO Philippe Corrot. “There’s no doubt that the digital revolution will continue to drive massive disruption in the year to come.”
Now, we look ahead to 2020 – a year with even more incumbents taking leadership positions in the platform revolution; innovative new marketplace use cases catching on; and of course, the constantly-growing technology, expertise, and partner ecosystem from Mirakl to make it all happen.
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Written by Maya Pattison
Senior Director of Marketing, Americas at Mirakl