Shopmonkey Raises $25M in Series B Funding

Shopmonkey Raises $25M in Series B Funding

Shopmonkey, a San Jose, Calif.-based software company serving the automotive industry, raised $25m in its Series B funding.

The round, which brought the total capital raised to $35m, was led by Bessemer Venture Partners with participation from Index Ventures, and I2BF. In conjunction with the funding, Byron Deeter from Bessemer Venture Partners, will be joining the company’s board of directors.

The company intends to use the funds to continue to expand its business reach.

Led by CEO and founder Ashot Iskandarian, 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 software that consolidates tools, saves time, and streamlines their entire operation while improving communication across the board. It is now used by over 1,200 shops.



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