Shop-Ware Announces $15M in Series A Funding Led by Insight Partners
FOR IMMEDIATE RELEASE: December 2, 2020
SAN FRANCISCO, CALIFORNIA – Shop-Ware, the automotive aftermarket’s premier cloud-based shop management software for independent repair shops, announced today that it has secured $15M in series A funding, led by Insight Partners. Insight is a leading global venture capital and private equity firm whose investment will grow Shop-Ware, accelerate its innovation and allow for a more aggressive go-to-market.
Carolyn Coquillette founded Shop-Ware out of her own repair shop in San Francisco to provide the transparency and sophistication that customers needed and that other systems lacked. Her goal from the get-go was to offer customers a peek into what happens in an auto shop. It meant more communications from the repair person to the car owner. As it turned out, a software platform was the best way to do it.
Eventually, the push for modernized software became less of an in-house project and more of a standalone company. By 2015, she had a product and an incorporated company.
Shop-Ware grows the future of auto repair
Shop-Ware handles everything for the next generation of auto repair, from digital customer communication to paperless shop operations. Its expansive product offering aims to reduce or remove the human effort needed to run the business.
Repair shops experience 20% efficiency gains, higher gross profit, and a 12% increase in sales than over the phone. Additionally, their customers consistently boast increased satisfaction, mentioning the software in online reviews.
“Repair shops have to adapt quickly to the increased complexity of the cars they service. Shop-Ware brings automated, customized solutions to allow shops to thrive in business and inspire their customers,” said Coquillette.
“Our team is proud to serve the community of hard-working, intelligent professionals that make auto repair possible. Meanwhile, Insight Partners shares our passion for delivering best-in-class products and services that this industry needs to transform.”
Making the most of every customer visit
“With Shop-Ware, repair shop owners and technicians can maximize operational efficiencies and customer interaction using the company’s cloud-based management solution,” said Nikhil Sachdev, Managing Director at Insight Partners, who is joining Shop-Ware’s Board of Directors. “We are excited to partner with Shop-Ware to further scale their best-in-class product and capitalize on this growing market opportunity.”
The investment will expand Shop-Ware’s engineering, support and sales teams, to ramp the number of repair shops adopting the platform and speeding their onboarding period.
The fresh capital comes as Shop-Ware has tripled its customer base while also lowering churn, Coquillette said in article published by TechCrunch.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised more than $30 billion in capital commitments through a series of funds. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all.
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