Loading organizations...
Shopmonkey has raised $110.0M across 3 funding rounds.
Shopmonkey has raised $110.0M in total across 3 funding rounds.
Shopmonkey is a cloud-based shop management software platform designed for auto repair businesses, consolidating workflows like appointments, estimates, invoicing, inventory management, and customer communications into an all-in-one solution.[1][2][4] It serves shop owners, technicians, customers, and accountants at small garages to multi-location enterprises across the US and Canada, solving operational complexities by automating tasks, reducing phone time, and providing real-time insights to streamline operations and drive growth.[1][3][4] With over 10,000 customers, 150+ employees, and rapid expansion—adding 700 new locations monthly—the company demonstrates strong momentum, backed by $110 million in funding.[3][5]
Shopmonkey was founded in 2016 by Ashot Iskandarian, who channeled his passion for cars into the platform's first lines of code in January 2017.[3][5] Emerging from the need for a modern digital tool to help auto repair shops operate at peak performance, it drew inspiration from vertical SaaS successes like Toast and ServiceTitan, targeting fragmented SMB operations in automotive repair.[1] Early traction came from addressing scale challenges as customer numbers grew to thousands, leading to infrastructure upgrades for hyperscale growth and low-latency access across locations.[3][5]
Shopmonkey rides the vertical SaaS wave transforming SMB industries, akin to Toast for restaurants or ServiceTitan for home services, by digitizing legacy auto repair operations amid rising vehicle complexity and customer demand for seamless digital experiences.[1][3] Timing aligns with post-pandemic shop digitization, labor shortages, and supply chain pressures, where automation boosts efficiency for an industry serving millions of annual repairs.[2][4] It influences the ecosystem by standardizing workflows for 10,000+ North American shops, fostering connected auto care through integrations and scalable infrastructure that supports hyperscale growth.[3][5]
Shopmonkey is poised for continued dominance in auto repair SaaS, expanding to more service niches like quick lube, fleets, and detailing while enhancing enterprise onboarding for multi-shop chains.[4][6] Trends like AI-driven diagnostics, EV servicing, and deeper parts ecosystem integrations will shape its trajectory, amplifying growth beyond current 700 monthly locations.[1][3] Its influence may evolve into a full auto care platform, connecting shops, customers, and suppliers in a unified network—building on its founding vision to revolutionize the industry from the ground up.[5]
Shopmonkey has raised $110.0M in total across 3 funding rounds.
Shopmonkey's investors include Battery Ventures, Bessemer Venture Partners, Dragoneer Investment Group, Index Ventures, Tiger Global Management.
Shopmonkey has raised $110.0M across 3 funding rounds. Most recently, it raised $75.0M Series C in July 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jul 1, 2021 | $75.0M Series C | Battery Ventures, Bessemer Venture Partners, Dragoneer Investment Group, Index Ventures, Tiger Global Management | |
| Aug 1, 2020 | $25.0M Series B | Battery Ventures, Bessemer Venture Partners, Dragoneer Investment Group, Index Ventures, Tiger Global Management | |
| Sep 1, 2019 | $10.0M Series A | Battery Ventures, Bessemer Venture Partners, Dragoneer Investment Group, Index Ventures, Tiger Global Management |