Shopmonkey offers a cloud-based shop management platform that consolidates invoicing, scheduling, parts ordering and customer communications for auto repair shops. The software enables multi-device access (computers, tablets, smartphones) and supports appointment reminders, confirmations and upsell offers. The company says many shops rely on disparate tools or locally installed systems, and Shopmonkey aims to modernize those workflows. Proceeds from the recent financing will be used to grow product, sales and marketing teams and further develop the platform. Founded in 2017, Shopmonkey has grown to more than 125 employees and is used by over 2,500 shops. Company leadership cites COVID-related dynamics and a rebound in vehicle use as creating tailwinds for the automotive aftermarket, boosting demand for its product. Shopmonkey provides a cloud-based system that simplifies running an auto repair business by consolidating appointment scheduling, parts ordering, customer communications, and payment processing onto one platform. The product is designed to help shops run, understand and grow their business by saving time, streamlining operations and improving communication. Led by CEO and founder Ashot Iskandarian, the company is used by over 1,200 shops. Shopmonkey is based in San Jose, California. It raised $25M in a Series B, bringing total capital raised to $35M, and intends to use the funds to continue expanding its business reach. The company recently added Byron Deeter from Bessemer Venture Partners to its board of directors. Shopmonkey is a San Jose, California-based company that provides a cloud-based management platform for auto-repair shops. Its platform consolidates appointment scheduling, parts ordering, inventory management and payment processing onto a single system. Led by founder and CEO Ashot Iskandarian, the company says its tools help users streamline operations and grow their businesses. On Sept. 24, 2019, Shopmonkey raised $10M in a Series A round led by Index Ventures, with participation from e.ventures and I2BF. Index Ventures partner Nina Achadjian will join Shopmonkey’s board as part of the financing. Shopmonkey plans to use the proceeds to recruit local talent and invest in product development.

Total raised

$110M

Funding rounds

3

Latest round

Series C

Latest activity

Jul 2021