The monastery is a cultural monument with a national importance. It is located about 15km south-east of Gabrovo and 4km of “Etara”. The monastery was founded by archimandrite Yosif. In 1843 next to the entrance of the Sokola cave, replacing the small wooden church build in 1833, with the help of the people from near-by villages, a big chapel was put up. It is an astonishing creation of the Bulgarian national revival’s architecture and mural painting. During the revival period in the monastery a school was founded. In the years of the yoke the monastery has sheltered Vasil Levski and the detachment of Captain Dyado Nikola. From here 220 rivals, led by Canko Diyatabanov started their journey to immortality. During the Russian-Turkish War the monastery was converted into a military infirmary.
In the monastery’s verdant yard raises a beautiful white-stone fountain with eight spouts, build in 1868 by master Kolio Fitcheto.