Austrian SaaS startup Shopstory raises €2.2m in second round funding to back e-Commerce brands

Austrian SaaS startup Shopstory raises €2.2m in second round funding to back e-Commerce brands

Published: 12-09-2022 10:58:00 | By: Pie Kamau | hits: 4842 | Tags:

Austrian startup Shopstory, based in Hamburg, which previously operated under the name boomerank and underwent a complete rebranding in the summer of 2022, is raising a million-dollar investment from tecnet equityStartup300 and business angels Patrick Pöschl (Co-founder Scalable Capital) and Hansi Hansmann in its second round of financing.

Also participating in the financing round is the Coinpanion founding team around Alexander Valtingojer. The 2.2 million, which the founding team consisting of Sebastian Schwelle, Robert Böhm and Roman Schweiger secured, will be used primarily for the further development of the software in the area of business intelligence as well as to advance the expansion.

Shopstory develops a SaaS (Software as a Service) solution that can be described as an "intelligent performance marketing assistant" for online retailers. The artificial intelligence-based software helps online stores to increase their sales, profitability and overall competitiveness. Especially the operators of small and medium-sized online stores with limited staff or time resources are often faced with the challenge of gaining digital visibility and new customers. Competition from Internet giants such as Amazon and Co. is omnipresent here.

A performance marketing software especially for online stores

This is exactly where Shopstory comes in, because the software focuses on significantly improving online performance - even if the company has only rudimentary marketing know-how or no in-house performance marketing manager. Among other things, the software makes this possible by providing targeted support in the areas of search engine optimization and search engine advertising (e.g. Google ads).

The software also monitors the competition, provides input for campaigns and blogposts, automates keyword research and provides store owners with intuitive performance reports. The success of the software can also be measured in concrete figures: in a currently very challenging eCommerce market environment with an overall decline of over 40% in the first half of 2022 (Salesforce Shopping Index Germany), Shopstory customers were nevertheless able to increase their return on advertising spend (ROAS) by over 20%.

Sebastian Schwelle, Managing Director, Shopstory: "It has always been our goal to offer all online stores a fair chance to participate in eCommerce revenues. That's why we are all the more pleased to be able to continue working on our vision with the support of our investors with know-how and capital. With Shopstory, we want to get the maximum for our customers in the future through targeted business insights and give them the competitiveness and visibility they deserve. Hence Shopstory - because no store can tell its story if no one is listening."

Hansi Hansmann, Entrepreneur and Business Angel, Hans(wo)men Group: "The team around Shopstory orients its software to current market events, which makes it innovative and future-proof. A concrete vision, commitment and perseverance are important factors in making a company successful. I clearly see these qualities in Shopstory, which is why I look positively to the future and look forward to further collaboration."