Fintech has had a complicated last two years due to the economic context and the drying up of capital. The trend is more positive in e-commerce. And the unicorn Mirakl, editor of features for marketplaces, is doing well.
This is what it demonstrates when announcing its (partial) results for 2023. The company declares $8.6 billion in business volume (GMV) generated on the platforms deployed. This equates to 50% growth.
Annual Recurring Revenue of $160 million
However, this figure reflects above all the dynamism of its clients, more than 30 of whose platforms “have exceeded the threshold of 100 million dollars in GMV in 2023.” Several of these platforms deployed by the Frenchman have exceeded $500 million in annual business volume.
A major indicator, the startup is also showing profitability in the 4th quarter of 2023 on its historic core business: Mirakl Platform. Another KPI closely monitored by investors: ARR, Annual Recurring Income.
The scale-up declares an ARR of $160 million, an increase of 20%. And to fuel its future revenues, Mirakl is counting on its new Mirakl Ads and Mirakl Payout services. The company has signed its first contracts.
In total, 65 in 2023 for Mirakl Ads, Mirakl Payout, Mirakl Target2Sell and Mirakl Connect. The result is “additional sources of revenue and monetization opportunities” for its customers – and their technology supplier.
$100 million for acquisitions
Mirakl does not intend to stop there. The SaaS publisher plans in particular to increase its order book through external growth. After finalizing the integration of Target2Sell – a source of synergies with Mirakl Ads – it is considering new operations.
To finance them, Mirakl declares having obtained “a syndicated loan of 100 million euros.” The sign according to the startup “of its financial maturity.” But the company also needs capital to develop its offering.
Two areas are among its priorities: artificial intelligence and advertising (retail media). In 2023, Mirakl launched AMI (Artificial Mirakl Intelligence). AI now powers Mirakl Platform, Mirakl Catalog Platform, Mirakl Target2Sell and Mirakl Ads.
Through AI and first use cases, the publisher estimates that it will multiply the speed of putting catalogs online by 14, increase the conversion rate by 15% via personalization and reduce resolution time by 90%. customer incidents.
Exploring Generative AI with Mistral AI
Due to the technological trend, Mirakl has taken the turn towards generative AI. Through these models, the publisher claims in particular an improvement in the quality of data and the completeness of its users’ product catalogs.
In collaboration with the French unicorn Mistral AI, the scale-up announces exploring new applications of generative AI. It also intends to take advantage of another dynamic on the market, this time advertising: retail media.
With Mirakl Ads, also incorporating AI, it wishes to “strengthen its positioning as a technological leader in the field of retail media”. Its solution introduced in 2023 has convinced 10 new customers since September 2023.
To fuel its conquest, the marketplace specialist has also signed a global partnership with Havas Group. A merger aimed in particular at creating “the most powerful network of independent retail media players on the market.”
Finally, on the product side, Mirakl remains focused on functionalities (340, including improvements, launched in 2023) and security (obtaining ISO 22301 certification). It was already certified ISO 27001, ISO 27018, SOC 1 Type II and SOC 2 Type II.