GlassHouse Technologies Raises up to $16 Million - Framingham, MA

GlassHouse Technologies, a Framingham-based provider of IT infrastructure consulting, has obtained a commitment for up to $16 million in convertible debt financing from BayStar Capital. An initial advance of $6 million was funded immediately under the agreement, and the proceeds were used to fund GlassHouse's acquisition of RapidApp, a Chicago-based server virtualization consulting company. GlassHouse is also backed by several venture capital firms, including Sigma Partners, Kodiak Venture Partners, Globespan Capital Partners, Grand Banks Capital, and Paladin Capital Group.

http://www.glasshouse.com/