Spiceworks Closes $25M Series D Financing
Spiceworks, Inc., an Austin, TX-based social business network for IT professionals and technology vendors, has closed a $25m Series D financing round.
Investors include new backers Adams Street Partners and Tenaya Capital and existing shareholders.
The company intends to use the funds to include integrated commerce within the network including group purchasing and deals, integrated request for quote with the leading technology vendors, and the purchasing of IT products and services built directly into the workflow of the application.
Founded in 2006 by CEO Scott Abel, Spiceworks allows IT professionals to discover, buy and manage technology products and services. It is used by over 200 technology providers, including Microsoft, Google, Dell and Intel, to connect directly with IT buyers. Spiceworks allows them to create purchase lists, renew warranties, and buy cloud services from select vendors.