Friday Fundings: Mirakl, Zola Electric, and Ocrolus

Marketplace Platform Startup Raises $555 Million

Mirakl, a platform operator which helps big companies set up B2B digital marketplaces, has raised $555 million in venture funding. The Series E round, which was led by Silver Lake, gives the company a $3.5 billion valuation. The French startup was founded in 2011 and counts Kroger (KR) and HP Enterprise (HPE) as customers. Through Mirakl’s platform, companies can open and manage B2B and B2C marketplaces.

Mirakl raised $393 million last year in a Series D round of fundraising amid pandemic growth which has continued into this year. For the first half of 2021, Mirakl saw a 90% increase in bookings compared to last year. Proceeds from the latest round will go to hire as many as 250 engineers and may also be used for acquisitions.

Distributed Renewable Energy Startup Raises $90 Million

Zola Electric, a startup which provides renewable energy products to countries in Africa, raised $90 million in fresh funding. The startup, which was founded in 2011, started out providing solar power to communities in rural Tanzania. It has since evolved and now develops products to address energy access problems in a variety of markets.

The $90 million which Zola Electric raised is split evenly between debt and equity. The equity portion of the round was led by TotalEnergies Ventures (TTE), Impact VC, and DBL Partners, among other investors. Proceeds from the funding round will go to create next-generation digital renewable energy products, enter new markets, and drive adoption of renewable energy.

Automated Document Platform for Fintechs Raises $80 Million

Ocrolus, a startup which operates a platform that analyzes financial documents, raised $80 million in venture funding. The Series C round, which was led by Fin VC, gives the startup a valuation of more than $500 million.

The startup, which was founded in 2014, counts several fintechs including Btex, Enova, LendingClub (LC), PayPal (PYPL), and Plaid, as customers. Through its platform, which Ocrolus says is 99% accurate, documents can be analyzed to capture key data, spot fraud, analyze financials, and enable lenders to make faster underwriting decisions. Ocrolus plans to use the proceeds from the funding round to build products for mortgage lending and banking and to expand in the US.

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ABOUT Meg Richardson Meg Richardson is a writer specializing in markets, technology, and personal finance. She loves breaking down seemingly complex ideas and making them readable and interesting for everyone. She holds an MFA in writing from Columbia University. When she is not writing about finance, she enjoys running in Central Park and drawing cartoons.

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