Software as a Service (SaaS) Platform Mirakl Tuesday, November 9, said it was adding invoice compliance expertise through its acquisition of the French start-up October, an initiative that will help Mirakl customers manage local and global regulations as they expand around the world.
Mirakl’s technology and industrial partner network allow operators to expand their global offerings faster than they could have done on their own. It also means that Mirakl powered Marketplace operators can better manage billing compliance as part of the Mirakl solution.
“For the first acquisition in Mirakl’s history, we were looking for an opportunity that would allow us to stay ahead of customer needs,” said Philippe Corrot, co-founder and CEO of Mirakl, in the company announcement. “With Octobat, we saw that we can simplify and automate complex invoicing for marketplace operators around the world, allowing them to scale faster than ever.
“This acquisition further expands the capabilities of our open and flexible market platform,” he said.
Gaultier LapercheOctober, co-founder and CEO, said the company is “looking forward to seeing our unique solution in use by customers around the world, so joining forces with Mirakl responds to that vision.
“Like us, Mirakl believes that invoicing is a critical aspect of the market buying and selling process and a critical capability for the future direction of the entire category of the business market,” he said. declared. “Our team is proud to join one of the most dynamic and innovative French technology companies. “
Related: SaaS company Mirakl releases $ 555 million to expand e-commerce offerings
In September, Mirakl closed a $ 555 million Series E funding round led by Silver Lake, bringing the company’s total valuation to over $ 3.5 billion, more than double the valuation of the last year.
Its enterprise market platform represents billions of dollars in gross merchandise value for more than 300 brands.
Mirakl uses the money to invest in technology, expertise and partner ecosystem and strengthens its teams to better meet the needs of digital commerce. The company is looking to hire 350 engineers by 2023 to grow its team to 500 to help it expand its capabilities and end-to-end scalability, including strengthening artificial intelligence (AI) and automation.
It is also looking to double the size of its Customer Success team and expand the Mirakl Connect ecosystem of market-ready sellers.