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 Channel Futures

Cloud


Spiceworks: Remote Monitoring Specialist Raises $16 Million

  • Written by Joe Panettieri 1
  • January 11, 2010
Spiceworks, which develops network monitoring tools for corporate IT and managed service providers, has raised $16 million in series C funding. The financial move is noteworthy for several reasons involving managed services, software as a service (SaaS) and advertising-based systems. Here are some quick observations.

spiceworksSpiceworks, which develops network monitoring tools for corporate IT and managed service providers, has raised $16 million in series C funding. The financial move is noteworthy for several reasons involving managed services, software as a service (SaaS) and advertising-based systems. Here are some quick observations.

First up: Plenty of MSP-, SaaS- and remote management companies seem to be lining up funding. Recent examples include iYogi, Peak10 and SupportSpace. And don’t forget: Quest Software in December 2009 acquired remote monitoring specialist PacketTrap.

Interesting Business Model

But Spiceworks seems different: Instead of relying on software licenses, the company’s network monitoring tool leverages online advertising, social media and freemium strategies. The company claims:

Spiceworks is enabling ‘Social IT’ by combining systems and network management software with a rapidly growing and active Facebook-like community of IT professionals. Organizations of all sizes use the software and integrated online community to collaborate with each other and support the management of their IT networks and services.

I concede: I’ve been skeptical of Spiceworks’ deployment and installed base figures because they seem astronomical. The company claims it has…

  • more than 850,000 users in 196 countries
  • over 1,000 new IT pros joining every day
  • penetrated  more than 25 percent of all businesses that have more than 100 employees
  • Plus, technology companies like Cisco, Citrix, Dell and Intel are helping with plugins for Spiceworks’ platform

Again, the numbers seem staggering to me and I’d like to hear from more readers who are running Spiceworks.

Money Matters

Meanwhile, some key names are backing Spiceworks’ vision. Big investors include Institutional Venture Partners (IVP) — which has also backed Twitter, MySQL, HomeAway, Netflix, Business.com and Zynga.

Spiceworks also has some key names on its board. One example: Mike Maples Jr., managing general partner of Maples Investments. That investment firm has also pumped money into Digg, Hyper9, Solarwinds and Twitter. During an earlier career stop, Maples oversaw worldwide product marketing at Tivoli Systems.

Translation: Maples seems to understand the converging point between social media (Digg, Twitter) and systems management (Solarwinds, Tivoli, etc.). Solarwinds, not by coincidence, launched its IPO in 2009.

Backed by its third round of funding, Spiceworks seems intent on more growth. I wonder how many MSPs will give it a try.

Tags: Cloud Service Providers Digital Service Providers MSPs VARs/SIs Cloud RMM/PSA Strategy

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7 comments

  1. Avatar akp982 January 12, 2010 @ 6:48 am
    Reply

    I gave it ago 🙂 and now run a website about Spiceworks.

    I love it from the inventory right though to the helpdesk. The new network map has provided great in tracking down problems and seeing how confused my network is.

    I can’t wait to see what happens with Spiceworks now it has more backing and money.

    Its already a great product and keeps going from strengh to strengh.

  2. Avatar Joe Panettieri January 12, 2010 @ 12:46 pm
    Reply

    akp982: OK, I’ll take the bait… what website about Spiceworks are you running? URL? Thanks.
    -jp

  3. Avatar akp982 January 12, 2010 @ 1:25 pm
    Reply

    I run the Unofficial Spiceworks blog http://www.unofficialspiceworks.com/

    Best of luck, if you have any problems pop along to the community and someone will give you a hand 🙂

  4. Avatar Joe Panettieri January 12, 2010 @ 2:18 pm
    Reply

    akp982: Thanks for the link. We’ll be watching (and reading).
    -jp

  5. Avatar bdewong January 12, 2010 @ 5:15 pm
    Reply

    AKP is a little crazy about Spiceworks 🙂
    I guess I am too. Why wouldn’t I be, it is a great tool.

    But since this article is about funding, I always wonder if Spiceworks has enough ad revenues to be or become profitable. Apparently IVP and a few others think so. I believe it is a great platform for ads but still has a ways to go in integrating them more “seemlessly” ala Google.

    I say good luck to Spiceworks, and great news on the funding. More and improved features are always good 🙂

  6. Avatar Ed Hammond September 14, 2010 @ 1:13 am
    Reply

    I use Spiceworks and I dumped Microsoft System Center for it because I found it easier to use.
    We really like the HelpDesk ticket portal too!
    The ad model should work since I spend tens of thousands of dollars on IT and this is the most targeted way to reach me and my $$.

    Ed Hammond
    Sr. System Admin

  7. Avatar Joe Panettieri September 14, 2010 @ 1:24 pm
    Reply

    Ed, Thanks for the note. Can you disclose for whom you work?
    -jp

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