Paris-based Mirakl announced it has raised $555 million in a Series E funding round led by Silver Lake, along with participation from long-term investors 83North, Elaia Partners, Felix Capital, and Permira. With the latest investment round, Mirakl said the company’s valuation has increased to more than $3.5 billion.

Mirakl is an e-commerce vendor that provides online marketplace software to distributors, retailers, manufacturers and wholesalers. Mirakl said its valuation has more than doubled since its $300 million Series D funding round announced on September 22, 2020, which was led by Permira’s growth fund.

With its marketplace SaaS platform, Mirakl was well positioned to help enterprises with their digital transformations and e-commerce launches, many of which accelerated due the pandemic, supply chain constraints and product shortages. To date, Mirakl has recorded 90% growth in its year-over-year bookings value during the first half of 2021.

Among other plans, Mirakl will use its latest funding round to hire 350 engineers while also expanding its footprint across major markets in EMEA, the Americas and Asia Pacific.

“When we founded Mirakl, it was in the belief that the world was moving toward an era of customer centricity, that would break traditional business models and require leaders to transform to bring their customers greater choice, more services, and the ability to buy whenever they wanted and wherever they wanted. It was an ambitious vision, and we have taken bold steps to pursue it, always in partnership with our customers,” said Philippe Corrot, CEO and co-founder of Mirakl.