Austin, Texas—Spiceworks Inc. announced it closed a $25 million financing round with new investors Adams Street Partners and Tenaya Capital. Existing investors also participated.
Spiceworks said the funding will be used to include an e-commerce capability within the Spiceworks social business model. The company built its social business network by offering free network management, network monitoring and help desk software. The company said it has 1.4 million information technology professionals in the network.
Spiceworks currently monetizes the community via social marketing programs and Vendor Pages.