Network Computing is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

GlassHouse Adds $20M

GlassHouse Technologies Inc. today grabbed a fourth round of funding worth $20 million, adding a new board member to help it get more feeding space at the homeland security trough.

Paladin Capital Group led the round, with GlassHouses previous investors kicking in to bring its total funding to $35 million since 2002. The money comes from Paladin’s Homeland Security Fund, which invests in companies whose products and services address U.S. government projects in that area.

Part of the deal includes GlassHouse adding Paladin principal Kenneth Minihan to its board. Minihan is a retired Air Force lieutenant general and former director of the National Security Agency intelligence group. Minihan said Paladin was attracted to GlassHouse because of its data protection and security services.

GlassHouse executives hope Minihan can help push business in its Washington office, which was set up a year ago to chase government contracts (see GlassHouse Opens New Office).

Indeed, GlassHouse execs are playing down the funding and focusing instead on the addition of Minihan. “It’s not about needing money,” GlassHouse chief marketing officer Jay Seaton says. “It’s about the leverage we can get working with Paladin to accelerate our government practice. We would expect to get their advice and guidance on how best to do business in that sector.”

  • 1