Mirakl acquires a recommendation tool and launches a payment system for marketplaces

Mirakl strengthens its offer. The French nugget, which offers a turnkey solution to quickly deploy a marketplace, takes over Target2Sell. The acquisition, which strengthens its product personalization and recommendation offering, was announced on April 28, 2022 at its annual Mirakl Platform Pioneer Summit event, during which a new online payment solution was unveiled. International Payout.

A second purchase

Target2Sell is a start-up from Rennes founded in 2012. It has developed a recommendation tool powered by artificial intelligence algorithms that allows e-merchants to make personalized recommendations in real time. For Mirakl, the objective is to offer a solution to its customers so that they can offer end buyers the right products at the right time, personalize banners and expand their product assortment to meet customer demand. Isabelle Bénard, CPO at Mirakl, ensures that Target2Sell’s technology achieves “Awesome performance that can improve conversion rate by up to 15%.”

The acquisition was made for reasons of speed. Isabelle Bénard emphasizes “these 10 years of experience” during which Target2Sell has “significantly improved its recommendation algorithms”. Target2Sell claims more than a hundred customers, which has allowed it to improve its algorithms even more. To develop an identical solution, Mirakl would have had to spend a lot more time than it took him to acquire the start-up. The Next40 unicorn thus signs its second acquisition after that of Octobat last October.

Payout facilitates international payments

Payout’s objective: to facilitate the international expansion of marketplaces. To do this, this tool facilitates payments from marketplaces to sellers by managing regulatory compliance, exchange rate management and currency payments. The goal is to offer a solution that simplifies the process of disbursing funds to sellers as much as possible.

The solution will be integrated into the Mirakl Marketplace Platform. It will be available in early access in the fall of 2022. This will help marketplace operators retain the best sellers as the competition increases.

artificial intelligence

Mirakl adds a layer of artificial intelligence to its Product Data Mapping solution to better define product descriptions and automatically classify them into categories and subcategories. A FastTrack Ondoarding solution, which will allow operators to add hundreds of third-party sellers in minutes, will be offered in fall 2022. Finally, the Next40 nugget strengthens the Customer Care Intelligence customer support tool. The artificial intelligence powering this solution is improved in order to quickly identify consumer requests and highlight priority requests.

Mirakl is growing its ecosystem to offer its customers all the products they need to better manage their marketplace. The unicorn claims more than 300 customers and claims to have exceeded $100 million in recurring annual revenue in 2021 with more than $4.3 billion in transactions on its marketplaces. To continue its development, 1,500 positions are open over the next three years, including 350 solely for R&D. Mirakl will continue to develop its tools internally but does not close the door to possible acquisitions.

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Mirakl acquires a recommendation tool and launches a payment system for marketplaces

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