GlassHouse Raises $16 Million

GlassHouse Technologies Inc., a Framingham, Mass.-based provider of storage consulting and services, has raised $16 million in convertible note financing. Hedge fund LRG Capital Group led the deal (via BayStar Capital III), and was joined by Velocity Capital Group and Leader Ventures. GlassHouse previously raised over $64 million in VC funding from firms like GrandBanks Capital, Jafco, Kodiak Venture Partners, Montagu Newhall Associates, Paladin Capital Management, Shiprock Capital and Sigma Partners. www.glasshousetech.com