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 Paladins 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. Its not about needing money, GlassHouse chief marketing officer Jay Seaton says. Its 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.
With the move to the cloud, CISOs must shift priorities from operating security programs to overseeing (monitoring and auditing) outsourced cybersecurity programs.
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