Spiceworks, an Austin, Texas-based professional network for IT, closed a $57m Series E funding.
The round was led by Goldman Sachs with participation from existing investors (which include Adams Street Partners, Austin Ventures, Institutional Venture Partners (IVP), Goldman Sachs, Shasta Ventures and Tenaya Capital). In conjunction with the funding, David Campbell, managing director in Goldman Sachs’ Merchant Banking Division, will join Spiceworks’ board of directors.
The company, which has now raised $111m, intends to use the capital to introduce a new technology platform, new APIs, as well as develop new applications and content.
Led by Scott Abel, co-founder and CEO, Spiceworks is a professional network for IT which allows professionals to connect with one another and over 3,000 technology brands. It is currently used by IT professionals in more than 200 countries to manage 170 million hardware devices and more than 10 billion traditional and cloud-based application installations.