Welcome!

News Feed Item

Spiceworks Closes $57 Million Funding Round to Accelerate Growth of Professional Network for IT

Goldman Sachs Leads Round to Fuel Transformation in How IT Products and Services Are Marketed, Sold and Managed

AUSTIN, TX -- (Marketwired) -- 02/04/14 -- Spiceworks, the professional network for IT, today announced it has closed a $57 million Series E round of funding led by Goldman Sachs with participation from existing investors. The Series E funding will help Spiceworks expand its global network of IT professionals and technology brands while transforming how IT products are marketed, sold and managed in the $3 trillion IT industry. Spiceworks has raised a total of $111 million through five rounds of funding, and the company has named David Campbell, managing director in Goldman Sachs' Merchant Banking Division, to its board of directors.

"Spiceworks has reached the tipping point all high-growth, successful social and professional networks experience as they evolve to reshape how we do business," said Scott Abel, co-founder and CEO of Spiceworks. "As the professional network for IT, we have a unique opportunity to connect IT professionals and technology companies in entirely new ways. By coupling the best professional networks have to offer with tools and resources IT professionals and marketers need to do their jobs, we're excited to reinvent a multi-trillion dollar industry."

Spiceworks Changes How Technology Brands and IT Professionals Do Business

More than 5 million IT professionals and over 3,000 of the world's leading technology brands use Spiceworks to connect with one another, learn about the latest technologies, and do their jobs more efficiently. Spiceworks is 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. Collectively, IT professionals in Spiceworks spend more than $525 billion on technology products and services each year.

The latest funding round will help Spiceworks accelerate the growth of the professional network for IT by:

  • Introducing a new technology platform and app store to give IT professionals the tools they need to manage their entire technology environment from Spiceworks. By coupling the platform with new APIs, Spiceworks will simplify how technology brands, independent developers and even Spiceworks users integrate new free and for-fee applications into a single pane of glass.
  • Developing new applications, content, and the engaged community IT professionals need to be successful in their jobs. Spiceworks will also introduce new resources IT professionals can use to advance their careers or find their next opportunity.
  • Reinventing the IT marketing and sales process by using Spiceworks' unique insight into how IT professionals research, buy and manage technology solutions. Spiceworks will develop new tools to help IT professionals and technology brands stay connected through the entire purchase process and as new technologies are bought, deployed and managed. As these tools are rolled out, Spiceworks will continue to help brands adapt and reach their customers and prospects in new, more engaging ways.

"The emergence of professional networks like Spiceworks represents the next wave of social innovation," said David Campbell of Goldman Sachs. "Spiceworks has a unique platform for technology brands to directly access a rapidly-growing, critical, and underserved market of IT professionals that commands over $525 billion of spend today."

About Spiceworks
Spiceworks is the professional network for IT more than 5 million IT professionals use to connect with one another and over 3,000 technology brands. The company simplifies how IT professionals discover, buy and manage more than $525 billion in technology products and services each year. Headquartered in Austin, Texas, Spiceworks is backed by Adams Street Partners, Austin Ventures, Institutional Venture Partners (IVP), Goldman Sachs, Shasta Ventures and Tenaya Capital. For more information visit http://www.spiceworks.com

Follow Spiceworks on Twitter: http://twitter.com/spiceworks and connect with Spiceworks on Facebook: http://www.facebook.com/Spiceworks.

Spiceworks is a registered trademark of Spiceworks, Inc. All other names may be trademarks or registered trademarks of their respective owners.

Media Contacts:
Adam Schaeffer
Spiceworks
Email: Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Judith Hurwitz is president and CEO of Hurwitz & Associates, a Needham, Mass., research and consulting firm focused on emerging technology, including big data, cognitive computing and governance. She is co-author of the book Cognitive Computing and Big Data Analytics, published in 2015. Her Cloud Expo session, "What Is the Business Imperative for Cognitive Computing?" is scheduled for Wednesday, June 8, at 8:40 a.m. In it, she puts cognitive computing into perspective with its value to the busin...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across supply chain networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost and time for product recall as well as advance trade. Are you curious about Blockchain and how it can provide you with new opportunities for innovation and growth? In her session at 20th Cloud Exp...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Everyone wants to use containers, but monitoring containers is hard. New ephemeral architecture introduces new challenges in how monitoring tools need to monitor and visualize containers, so your team can make sense of everything. In his session at @DevOpsSummit, David Gildeh, co-founder and CEO of Outlyer, will go through the challenges and show there is light at the end of the tunnel if you use the right tools and understand what you need to be monitoring to successfully use containers in your...
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.