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RMM: Spiceworks Raises $25 Million to be the 'MSP Social Network'

2 Min Read
RMM: Spiceworks Raises $25 Million to be the 'MSP Social Network'

Free MSP-focused RMM platform Spiceworks has raised $25 million in Series D funding thanks to new investors Adams Street Partners and Tenaya Capital and unnamed existing contributors. And the company says it’s going to use the money to turn Spiceworks into the business-to-business social commerce site of choice for IT pros and technology vendors.

According to the press release, Spiceworks has data suggesting the average business connected to its social network spends $275,000 a year on technology. Moreover, Spiceworks claims that a full 25 percent of MSPs and other SMB-focused IT pros use its product to discover, buy and manage $244 billion worth of technology products and services per year. That includes cloud offerings from vendors such as Rackspace and Google.

Spiceworks believes there’s no reason why technology partners and users alike can’t get in on a slice of that pie. To enable that, Spiceworks plans to add features such as “group purchasing and deals, integrated request for quote with the leading technology vendors, and the purchasing of IT products and services” right from within the platform within the next year.

Intriguingly, there’s no mention of anyone from Adams Street Partners or Tenaya Capital joining the Spiceworks board, which is unusual in these cases. And needless to say, we’ll be watching Spiceworks closely as it implements these new social channel features – especially since I have a hunch it’s going to spend a lot of time reaching out to cloud service providers.

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