Shop-Ware Announces $15 Million in Series A Funding Led by Insight Partners
SAN FRANCISCO, Dec. 2, 2020 /PRNewswire/ -- 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, a leading global venture capital and private equity firm. The investment will support Shop-Ware's continued growth, 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.
Shop-Ware handles everything for the next generation of auto repair, from digital customer communication to paperless shop operations, with an expansive product offering designed 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. 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 Shop-Ware founder and CEO Carolyn Coquillette. "Our team is proud to serve the community of hard-working, intelligent professionals that make auto repair possible, and Insight Partners shares our passion for delivering best-in-class products and services that this industry needs to transform."
"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 be used to expand Shop-Ware's engineering, support, and sales teams, to ramp the number of repair shops adopting the platform and speeding their onboarding period.
Founded in 2013, Shop-Ware delivers professional-grade innovation to independent automotive service providers. As the industry's premier enterprise-grade SaaS platform for shop management, Shop-Ware is committed to developing sophisticated tools to help the automotive aftermarket thrive and grow. Industry-first features include fully digital, cloud-based repair orders with native vehicle inspections, rich media, and customer live chat; real-time shop workflow and "expeditor" dispatch; native parts allocation and tracking for each job in progress; parts gross-profit "optimizer" that automatically seeks and attains a parts GP target; advanced analytics across unlimited repair facilities, and much more. For more information on Shop-Ware, visit www.shop-ware.com.
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 through a series of funds more than $30 billion in capital commitments. 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. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.