Israeli startup Shoppimon closes $2.3 mln seed round

Tel Aviv, Israel-based Shoppimon Ltd, which helps e-commerce companies understand website performance, closed a $2.3 mln seed funding round. Investors include AOL, StageOne Ventures, Explore and 2B-Angels.

PRESS RELEASE

March 15th, 2016. Tel Aviv, Israel: Tel Aviv based startup Shoppimon Ltd., is looking to shake things up in Application Performance Management, and with their first SaaS product built to serve the eCommerce vertical, they are positioned to do just that.  The company, whose solution monitors online store performance by mimicking the experience of its customers, announced it has closed $2.3M in seed funding from participants including, AOL, StageOne Ventures, Explore and 2B-Angels.

By focusing on a wide range of problems eCommerce sites face, Shoppimon identifies and alerts its users to a gamut of issues that stop their customers from purchasing, and which they have no other way of knowing about.

The Shoppimon team has found that with traditional monitoring tools an average eCommerce site may be alerted to just over an hour of server downtime in any given week, and assume that this number represents their store’s total downtime. However, their actual business downtime (where shoppers are prevented from completing a purchase for many reasons) can be 8x that, resulting in an estimated $55B lost annually across the eCommerce industry.

Additionally, in a field full of highly technical products that require lengthy integrations, Shoppimon’s solution offers businesses a simple to use, no integration necessary alternative. And because store issues are explained in a language anyone can understand, the platform is quick and easy to set up and use, even for non-tech teams. “For the first time, Shoppimon is providing an application performance solution that is built around driving business results as opposed to solving technology problems,” says Gil Dibner, investor whose technology-oriented AngelList syndicate invested in Shoppimon.

2B Angeles Managing Partner Arale Cohen, explains that “the APM industry as a whole is stuck in the past, with outdated technology that doesn’t prevent issues leading to even the biggest sites having problems or going down. This in turn puts Shoppimon in the position to become the industry standard.”

According to Shoppimon CEO and tech veteran Roy Rosinnes, following this round of funding the company plans to grow their team, expand their product offering to additional eCommerce platforms, and continue scaling to thousands more clients around the globe.

Shoppimon is part of AOL’s Nautilus portfolio. Nautilus is AOL’s investment and scouting arm in Israel; a growth platform helping serious startups achieve success in the real world.

As strategic investors, Nautilus offers startups resources to get to market fast with an extraordinary product and compelling story. Once they invest in a company’s Seed or Post-seed round, for a period of 8 months, the team is invited to share our inspirational workspace in TLV and get expert guidance tailored to its specific needs. In addition, they offer our portfolio companies privileged access to AOL’s global customer and supplier base, as well as its O&O brand and affiliated brands (e.g., Huffington Post, TechCrunch, Aol.com, engadget, One by AOL). When it’s relevant, Nautilus also connects companies to their Parent company – Verizon.

About Shoppimon Ltd.: Shoppimon Ltd. helps eCommerce businesses and agencies understand website performance. And not simply whether a site is up or down, but how it functions from the viewpoint of the only person that matters, the customer.

Shoppimon technology is built to mimic the experience of online shoppers and alert users in real-time of any problems they experience.

With no integration necessary, Shoppimon notifies users about issues ranging from the biggest (server downtime) to the smallest (a missing image), ensuring they know when and where issues occur, before they prevent a purchase from being made.