The auto-repair shop software company Shopmonkey reports that it raised $10 million in “Series A” funding led by Index Ventures. Other participating investors include e.ventures and I2BF. According to Shopmonkey, the funds will be used to recruit local talent and invest in product development.
Shopmonkey is a cloud-based system that consolidates the management of all repair shop business — including appointment scheduling, parts ordering, inventory management and payment processing— onto a single platform.
Along with its investment, Index Ventures’ Nina Achadjian is joining Shopmonkey’s board of directors. At Index Venture, Achadjian focuses on venture and growth investments in business-to-business software as a service (SaaS). Her background includes time as the financial planning and analysis lead for Google AdSense.