Spiceworks Raises $25 Million To Be The Facebook For IT Managers

Spiceworks, a startup that develops Web-connected social IT management software, has raised a whopping $25 million in new funding from Adams Street Partners, Tenaya Capital, Institutional Venture Partners, Austin Ventures and Shasta Ventures. This brings the company’s total funding up to $54 million.

Spiceworks develops a desktop software suite that helps a company’s IT staff collaborate with each other and manage “everything IT.” The IT management software, which is free and ad-supported, is mainly used at small to medium businesses to inventory, monitor, troubleshoot, report on and run a help desk for their IT networks.

Spiceworks also allows IT admins to create purchase lists, renew warranties, and buy cloud services from select vendors. The startup also plans to roll out group deals, integrated requests for quotes from tech vendors, and the purchasing of IT products and services built directly into the workflow of the application.

Currently, more than 25 percent of the world’s small and mid-sized business IT professionals are using Spiceworks. More than 1.4 million IT pros rely on Spiceworks to discover, buy and manage $244 billion worth of technology products and services each year. Over 200 top technology providers, including Microsoft, Google, Dell and Intel, use Spiceworks to connect directly with IT buyers through the company’s Vendor Pages and social marketing programs.