Mirakl

Mirakl is an e-commerce software company headquartered in Paris, France and Boston, Massachusetts that provides cloud-based marketplace software to retailers, manufacturers, distributors and wholesalers. Its core product, the Mirakl Marketplace Platform, lets enterprises create marketplaces where third-party sellers list and sell products alongside the operator's own inventory; when an order is placed, the platform routes it to the relevant seller, handles payment processing and tracks fulfillment, while giving operators tools to onboard and manage sellers, maintain catalog quality and analyze performance. The platform integrates with existing e-commerce systems and supports both B2C and B2B use cases.

The product portfolio has broadened beyond the original marketplace platform. Mirakl Dropship supports vendor onboarding and dropship operations with a pre-vetted vendor network. Mirakl Connect is a multichannel selling hub for sellers and brands, connecting to hundreds of marketplaces and channels with AI-based catalog matching, enrichment and image transformation, order and returns management, stock and price synchronization, and analytics; it is offered in Growth ($699/month, up to $50,000 monthly GMV and 10,000 products), Pro ($2,299/month, up to $200,000 monthly GMV and 20,000 products) and Enterprise tiers, with add-ons for AI image optimization and agentic channels. Mirakl Ads is a retail media product used by roughly 50 retailers, Mirakl Payout handles seller payouts alongside an operator's existing pay-in provider, and Mirakl Catalog covers product data management.

Since 2025 Mirakl has positioned itself as "the operating system for intelligent commerce," centered on Mirakl Nexus, an infrastructure layer connecting merchants, sellers and AI platforms. Nexus includes Answer Engine Optimization, which enriches retailer catalogs so products can be recommended by large language models such as ChatGPT and Microsoft Copilot, and an API/MCP server allowing AI agents to search and complete purchases across Mirakl's retailer base through a single integration, paired with payment partnerships with Stripe and J.P. Morgan Payments. The first generally available component, Agentic Activation, combines AI product enrichment trained on the company's commerce data with agentic sales channels beginning with Microsoft Copilot. A developer portal publishes API documentation, SDKs and connectors for Adobe Commerce/Magento, Salesforce Commerce, SAP Commerce and Shopify, plus seller-side connectors including Amazon Multi-Channel Fulfillment.

Founding story

Philippe Corrot and Adrien Nussenbaum met in 2004 and founded Splitgames, a B2C e-commerce marketplace for the video gaming community, which Fnac acquired in November 2008. The pair then ran Fnac's marketplace business for about three years before leaving to create Mirakl in 2012, aiming to let any business launch and operate its own marketplace. Their experience with both an independent marketplace and one inside a large retailer informed the product.

Business model

Mirakl sells enterprise SaaS. Operators pay recurring subscription fees for the marketplace and dropship platform, priced according to factors such as project complexity, transaction volume, number of categories and sellers, and the modules activated, with first-year costs reported to start around $493,000. Value-added products (Mirakl Ads, Mirakl Payout, Mirakl Connect) and professional services for implementation and integration add further revenue, and the company follows a land-and-expand approach in which initial platform adoption leads to additional module purchases. Sellers and brands buy Mirakl Connect on published monthly subscription tiers with GMV and catalog-size limits.

Recurring SaaS subscriptions for the core platform, supplemented by retail media (Mirakl Ads), payment (Mirakl Payout), multichannel seller subscriptions (Mirakl Connect) and implementation services. Sacra reports the company's effective take rate on marketplace GMV declined from 4.5% in 2015 to approximately 2% in 2024 as the mix shifted toward enterprise SaaS revenue, and expects fees from AI-agent-mediated discovery and transactions via Mirakl Nexus.

Traction

Sacra estimates $218M ARR in 2025, up 23% from $177M in 2024 after 15% growth the prior year, and reports 2025 as the first full year of group-wide profitability following core-platform EBITDA profitability in 2024. GMV on Mirakl-powered platforms reached $14.6B+ in 2025, up 31% year over year from $11.2B in 2024, versus $8.6B in 2023. Peak throughput reached 118 orders per second (+42% year over year) with 100% uptime during Black Friday. Mirakl signed 45 new enterprise customers in 2025, 36 of which launched marketplaces or dropship programs. Mirakl Connect generated $11.7M ARR in under a year of commercial availability; Mirakl Ads ad spend grew 258% year over year to $12.7M in 2025 across roughly 50 retailers after adding 30 clients. Earlier milestones include exceeding $100 million in ARR in 2021 and 90% year-over-year bookings growth in the first half of 2021. Macy's reported 50% growth in marketplace average order value and more than 220,000 SKUs added in year one.

Latest developments

In 2025 Mirakl launched Mirakl Nexus, its agentic commerce infrastructure layer, and made Agentic Activation generally available as an enterprise solution for LLM-ready catalogs, including agentic sales channels starting with Microsoft Copilot and payment partnerships with Stripe and J.P. Morgan Payments. Recent announcements include a Broadsign partnership to unify online and in-store retail media, an AI-powered expert advisor for Mirakl Ads, THG Fulfil joining Mirakl Connect, Lacoste expansion via Connect, marketplace integrity and compliance tooling, and availability of Walmart Marketplace selling through Connect.