The Lower Austrian startup Shopstory provides a platform for online shops that helps them automate processes and boost performance. With a few clicks, they can execute advertising campaigns and many other repetitive tasks. Despite the economic challenges for startup investments, the company has secured a successful funding round in the millions.
The new investors include Hardlymountain Capital and Calm/Storm, two prestigious Austrian funds. “We are thrilled to have two strong partners on board with Hardlymountain Capital and Calm/Storm, who share our vision and will support us with their expertise and network”, says Sebastian Schwelle, co-founder and CEO of Shopstory. The existing investors such as Hansi Hansmann, tecnet and Patrick Pöschl also joined the round. According to CEO Schwelle, another funding round will follow soon.
Shopstory on a fast track to growth
Shopstory has shown remarkable growth since its first software customer in September 2020 and achieved the first million euros in annual recurring revenue (ARR) in less than 24 months. The startup is now operating in four European countries and has more expansion plans. “We see a huge opportunity for our solution, as online shops face increasing challenges to differentiate themselves from the competition and delight their customers”, says Robert Böhm, co-founder and CTO of Shopstory.
Investments into the team and further development of product
The Austrian Startup plans to use the fresh capital to grow its team and recruit experienced leaders. The startup also aims to enhance its product and build a no-code platform that allows the eCommerce community to share their knowledge and automate and distribute processes. Users will soon be able to select from a library of ready-to-use automations created by experts and activate them with a few clicks. The experts can become creators and generate passive income with their expertise. “We quickly recognized that our customers love our ready-to-use automations, and that’s why this step was only logical for us,” Schwelle added.
Shopstory was founded in September 2020 and operated under the name boomerank until 2022. The team has set itself the goal from the beginning to make the eCommerce market more transparent and fair. With a no-code platform that enables online shops to automate processes that actually deliver performance, they see themselves perfectly positioned. Every customer receives ongoing individual recommendations for more performance, which can be implemented with a few clicks. Unlike most other tools, Shopstory does not require any technical know-how, but a web shop with a shop system must be available.