What is Spiceworks?
Founded in 2006 and headquartered in Austin, Texas, Spiceworks operates as a vibrant online community dedicated to IT professionals. It serves as a platform for users to collaborate, share advice, and access a marketplace for IT-related services and products. The company's model fosters peer-to-peer support and facilitates the discovery and procurement of essential IT solutions, positioning it as a key resource for businesses navigating the complexities of technology management.
How much funding has Spiceworks raised?
Spiceworks has raised a total of $111M across 5 funding rounds:
Series A
$5M
Series B
$8M
Series C
$16M
Series D
$25M
Series E
$57M
Series A (2006): $5M with participation from Austin Ventures
Series B (2007): $8M led by Shasta Ventures and Austin Ventures
Series C (2010): $16M supported by Institutional Venture Partners
Series D (2011): $25M featuring Shasta Ventures, Austin Ventures, Tenaya Capital, and Adams Street Partners
Series E (2014): $57M backed by Goldman Sachs, Shasta Ventures, Austin Ventures, Tenaya Capital, Adams Street Partners, and Institutional Venture Partners
Key Investors in Spiceworks
Institutional Venture Partners
Institutional Venture Partners (IVP) is a prominent venture capital firm specializing in high-growth technology companies, particularly at Series B and beyond. Their investment focus spans consumer, enterprise, and fintech sectors, with a strategy of supporting companies through significant scaling phases towards IPO or M&A.
Austin Ventures
Austin Ventures is a Texas-based investment firm with a long history of empowering entrepreneurs. They focus on early-stage and middle-market investments, adopting a patient, long-term approach to building businesses, and have significantly invested in the Texas entrepreneurial ecosystem.
Shasta Ventures
Shasta Ventures is an early-stage venture capital firm that partners with entrepreneurs building innovative enterprise software solutions. They are known for their commitment to supporting bold founders and have a track record of investing in promising startups.
What's next for Spiceworks?
The recent major strategic investment signals a new phase of development for Spiceworks, likely focused on enhancing its community features, expanding its marketplace offerings, and potentially exploring new technological integrations. Given its history of enterprise-level funding, the company is well-positioned to scale its operations, deepen its market penetration, and continue innovating within the IT services and products landscape. This capital infusion is expected to fuel strategic initiatives aimed at solidifying its leadership in the IT professional community.
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