Shopmonkey Raises $75M in Series C Funding


Shopmonkey, a San Jose, CA-based auto shop management software company, raised $75m in Series C funding.

The round was led by previous investors Bessemer Venture Partners and Index Ventures, with participation from Headline and I2BF, plus new investor Iconiq Growth.

The company intends to use the funds to further innovate and grow operations.

Led by Ashot Iskandarian, CEO and founder, Shopmonkey provides a cloud-based system that simplifies the complexities of running an auto repair business onto a single platform, including appointment scheduling, parts ordering, customer communications, and payment processing. Shopmonkey is now used by thousands of shops in the U.S. and Canada to streamline and grow, running their day-to-day operations using integrated features and solutions.