Spiceworks Raises $25M More

Austin-based SpiceWorks, the developer of IT management software, announced this morning that it has raised $25M in new, Series D financing. The new funding round included new investors Adams Street Partners and Tenaya Capital, along with existing investors. The firm said the funding will go to support expansion into integrated commerce within its social networking features. The company said its users spend over $244 billion on technology products and services each year, using its social networking features to discover vendors and products. Spiceworks other investors are Institutional Venture Partners (IVP), Austin Ventures and Shasta Ventures. More information »