Shopmonkey raises $25 million Series B to help the surge of auto shops looking to modernize and thrive

By Shopmonkey on August 27th, 2020 in

Press Releases
credit

Image Credit: Photo by Shopmonkey

Shopmonkey, a San Jose, California-based software company serving the automotive industry, has raised $25 million in its Series B led by Bessemer Venture Partners with participation from Index Ventures, e.ventures and I2BF—bringing the total capital raised to $35 million in just 11 months. Byron Deeter from Bessemer Venture Partners, one of the leading investors in SaaS and cloud companies, will be joining the company’s board of directors.

Shopmonkey is a cloud-based system that simplifies all the complexities of running an auto repair business onto a single platform, including appointment scheduling, parts ordering, customer communications, and payment processing. The company helps  shops run, understand and grow their business by equipping them with easy-to-use software that consolidates tools, saves time, and streamlines their entire operation while improving communication across the board.

The COVID-19 pandemic requires all auto shops to modernize and innovate their workflow. Shopmonkey has seen a huge surge in new subscribers eager to use its software to implement a contact-free workflow that includes online payments, digital vehicle inspections, and customer communications—enabling their shops to adapt and digitally transform their businesses with a smart, simple solution. As auto shop owner and Shopmonkey client Jesse Whitsell puts it, "All of the tools of Shopmonkey allow us to run the business with minimal to no [physical] contact with customers.”

“Software-as-a-Service is rolling through and revitalizing industry verticals. We're seeing Shopmonkey bring the power of the cloud to the auto repair industry, whose business owners are eager for digital innovation,” explains Deeter. “Ashot Iskandarian is a dynamic founder who grew up surrounded by local repair shops and knows the industry from hands-on experience. His technical background and career working at companies like Intacct and Xactly helped him realize that building software could help an industry he’s been so passionate about throughout his life.”

“When I started Shopmonkey I wanted to help shops modernize, run more smoothly and become more profitable with powerful, yet simple to use, software,” says CEO and founder, Ashot Iskandarian. “Three years later, I am humbled and so proud of the team as I see this vision turned to reality for over 1,200 customers. Both the product and our team still have immense opportunity to grow, and we are nowhere near done. While we predominantly serve automotive repair, auto detail and heavy duty shops today, we also have bicycle, motorcycle, marine shops and more who are changing their business with Shopmonkey.”

Interested in working for Shopmonkey? View job openings.

About Shopmonkey

Shopmonkey was founded in 2016 by Ashot Iskandarian, with a passion for cars and a vision to help auto shops become more efficient and profitable through innovative software. Shopmonkey is now trusted by over 1,200 shops who utilize the platform to run their day-to-day operations by leveraging Shopmonkey’s wide array of integrated features designed to streamline and grow their business.

Shopmonkey logo
Shopmonkey Shop Management Software
Shopmonkey is a comprehensive software solution built specifically to help shop owners streamline their operations, boost revenue, and substantially elevate the trajectory of their business.
Schedule a Tour
Get a personalized Demo
check mark

Streamline your shop

check mark

Get paid faster

check mark

Understand your business

Browse more stories

Shopmonkey helps auto shops — from solo locations to big franchises — to work smarter, faster and grow their business with all-in-one visual platform.

Shopmonkey, All-in-One Shop Management Software, Welcomes Jeff Haynie as Chief Technology Officer
Press Releases

June 07, 2022

Shopmonkey, All-in-One Shop Management Software, Welcomes Jeff Haynie as Chief Technology Officer
Haynie’s team will focus on building products at scale and will introduce machine learning to drive added profitability for shop ...
Shopmonkey teams with ATI to help repair shops thrive
Press Releases

March 25, 2021

Shopmonkey teams with ATI to help repair shops thrive
Leading auto shop management software company announces partnership with Automotive Training Institute
Shopmonkey teams with Tint World® to maximize franchisee operations
Press Releases

October 20, 2020

Shopmonkey teams with Tint World® to maximize franchisee operations
Top auto accessory franchise selects leading auto shop management software to provide business-boosting automation and efficiency ...

REQUEST A DEMO

Shopmonkey is everything you need, no plugins or integrations required.

Close Button
We use cookies to secure, improve, and analyze your site experience. When you ‘Accept all cookies’ you consent to Shopmonkey using cookies to personalize your experience and ads and direct us to share information with our cookie providers. Privacy Policy.