# Shopmonkey

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/shopmonkey

- Industry: Software
- Headquarters: San Jose, US
- Website: www.shopmonkey.io
- Total disclosed funding: $127M
- Latest round: Series C (Jul 9, 2021)
- Investors on record: 5

## About

Shopmonkey, Inc. is a software company that provides an integrated management solution for auto repair shops, enabling streamlined operations, enhanced customer communications, and insightful analytics for improved profitability.Founded in 2017, Shopmonkey, Inc. is headquartered in San Jose, US. The company specializes in auto repair shop management software, allowing businesses to effectively manage workflows and customer relations. Ashot Iskandarian and Travis Brown are the founders, with Ashot serving as the CEO. In July 2021, the company raised USD 91.78 mn in Series C funding, co-led by investors including Bessemer Venture Partners and Index Ventures, bringing the total amount raised to USD 91.78 mn, with a current company valuation of USD 433.91 mn.Shopmonkey specializes in providing comprehensive auto repair shop management software designed to streamline operations for businesses in the automotive repair industry. Their core offerings include customizable workflows that facilitate job management, estimates, purchase orders, and VIN lookups, all integrated into a single cloud-based platform. The software also features advanced analytics through visual dashboards, enabling shop owners to gain insights into their operations and profitability. Additionally, it supports lightning-fast invoicing, integrated messaging for customer communications, digital inspections, and contactless payment options, enhancing customer experience and operational efficiency. Shopmonkey's customer base primarily consists of auto repair shops, quick lube businesses, tire shops, and various other automotive service providers across North America, Europe, and Asia.Shopmonkey generates revenue through a subscription-based model, where clients pay for access to its suite of software solutions tailored for auto repair management. The typical transaction involves monthly or annual subscription fees based on the number of users and features selected by the client. The pricing structure is designed to cater to businesses of various sizes, including single-location shops and larger chains, offering scalable solutions that grow with the client's needs. The software's flagship services include comprehensive management capabilities that cover inventory, workflow, and customer relationship management. Transactions occur directly between Shopmonkey and its clients, emphasizing a B2B structure that fosters long-term partnerships within the automotive repair sector.In July 2021, Shopmonkey, Inc. raised USD 75 mn in Series C funding to enhance its product offerings, sales, and marketing teams further. The funding will be utilized to develop its platform and expand its market presence. The company's strategy includes launching new products aimed at improving user experience and targeting specific geographic regions for expansion, although no specific regions or product release dates have been disclosed.

## Funding rounds

- Series C, Jul 9, 2021, $92M — Index Ventures, Headline, Bessemer Venture Partners, I2BF, ICONIQ Capital
- Series B, Aug 14, 2020, $25M — Index Ventures, Headline, Bessemer Venture Partners, I2BF
- Series A, Aug 22, 2019, $10M — Index Ventures, Headline, I2BF

## Investors

- Index Ventures (https://capitalatlas.ai/funds/index-ventures) — Series A, Series B, Series C
- Headline (https://capitalatlas.ai/funds/headline) — Series A, Series B, Series C
- I2BF (https://capitalatlas.ai/funds/i2bf) — Series A, Series B, Series C
- Bessemer Venture Partners (https://capitalatlas.ai/funds/bessemer-venture-partners) — Series B, Series C
- ICONIQ Capital (https://capitalatlas.ai/funds/iconiq-capital) — Series C