Austrian SaaS startup Shopstory scores million-dollar investment to accelerate growth

Austrian SaaS startup Shopstory scores million-dollar investment to accelerate growth

Published: 25-05-2023 14:31:00 | By: Pie Kamau | hits: 4305 | Tags:

Austrian SaaS startup Shopstory announced that despite the economic challenges for startup investments, the company has scored another million-dollar investment to accelerate growth. The new investors include Hardlymountain Capital and Calm/Storm, two prestigious Austrian funds. Existing investors Hansi Hansmann, tecnet and Patrick Pöschl also joined the round. 

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. 

Sebastian Schwelle, Co-founder and CEO, Shopstory: “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. We quickly recognized that our customers love our ready-to-use automations, and that’s why this step was only logical for us.”

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.

Robert Böhm, Co-founder and CTO, Shopstory: “We see a huge opportunity for our solution, as online shops face increasing challenges to differentiate themselves from the competition and delight their customers.”

Shopstory 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.