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2B Angeles Managing Partner Arale Cohen, explains that “the APM industry as a whole is stuck in the past, with outdated technology that doesn’t prevent issues leading to even the biggest sites having problems or going down.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