Spiceworks raises $8 million in Series B
Spiceworks, one of five companies named the "Next Big Thing" at the Enterprise 2007 conference, announced today that is has raised an additional $8 million in venture funding from Shasta Ventures and current stockholder Austin Ventures. The company, founded by four former Motive employees, focuses on providing a simple, downloadable IT infrastructure and generates revenue from the clickable ads featured in its IT Desktop console program via a partnership with Google Adsense. And, according to the company, the product has been a success, having be viewed by more than 120,000 registered users in 185 countries.
According to Ravi Mohan, a managing director with Shasta Ventures, in coverage provided by CNNMoney, "What makes this company so exciting is that no one has thought of doing this
before. Everyone
who has thought about free software has thought about it from a consumer
position but increasingly you will see it more with business software."
The Company will also augment
its advisors, adding two new board members, Mohan and former Dell executive John Hamlin. Expect to hear a lot more exciting news from this company!
Filed under: News
[...] is continuing its rapid pace, propelled by an $8M series B financing toward the end of 2007. You can see our Q&A Wednesday feature with Spiceworks here. Share and [...]