Mirakl, the B2B and retail e-marketplace technology provider, says its Marketplace Platform reached profitability last year for the first time since the company’s launch in 2012.
Adrien Nussenbaum, co-CEO, Mirakl
2023 marked a “year of maturity for Mirakl,” says Adrien Nussenbaum, co-founder and co-CEO. “Not only did we significantly increase our annual recurring revenue … but we are now financially self-sustaining.”
Nussenbaum adds that Mirakl powers ecommerce operations for more than 450 enterprises. They include B2B companies Airbus Helicopters, pharmaceuticals distributor Cencora (formerly known as AmerisourceBergen), Mitsubishi Electric, restaurant supplier Parts Town and Toyota Material Handling. Among its retailer clients, Mirakl counts Macy’s, Best Buy, Kroger and Saks Fifth Avenue.
Mirakl-powered B2B marketplace sales
Mirakl says the gross merchandise volume on the Mirakl Marketplace Platform, which client companies use for first-party and third-party ecommerce sales and drop-shipping, grew 50% year over year in 2023 to $8.6 billion.
In addition, Mirakl generated a 20% increase in annual revenue to nearly $160 million.
Nussenbaum says Mirakl has been expanding and upgrading its digital commerce and marketing products and services in several areas to help online sellers meet rising expectations of personalized and helpful online buying journeys.
For example, Mirakl introduced last year a program for integrating AI technology across several Mirakl technology platforms:
- Mirakl Marketplace.
- Catalog platform for onboarding sellers’ product information.
- Target2Sell content personalization.
- Target2Sell content personalization.
- Mirakl Ads online advertising program for promoting products on e-marketplace pages.
Mirakl says that, through a feature developed on generative AI, Mirakl customers “can enhance the data quality and completeness of product catalogs, boost search engine rankings, and increase conversions automatically by optimizing product titles, descriptions and attributes.”
It adds that Mirakl has also developed AI-powered language translations to help online sellers “expand their business into new territories.”
In addition, Mirakl launched in 2023 the Mirakl Payout for online payment transactions and a global arrangement with marketing and communications firm Havas Group.
In a sign of what it expects more robust growth to come, Mirakl said it achieved a record $1 billion in monthly GMV in November. And it noted that more than 30 Mirakl-powered marketplaces surpassed the $100 million GMV mark last year, including several that surpassed $500 million.
Paul Demery is a Digital Commerce 360 contributing editor covering B2B digital commerce technology and strategy. paul@digitalcommerce360.com.
Percentage changes may not align exactly with dollar figures due to rounding. Check back for more earnings reports. Here’s last quarter’s MSC Industrial report.
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