Information technology company Citrix Systems has helped flotation candidate GlassHouse raise an additional $6m as part of its Series F round ahead of its initial public offering.
Citrix invested $5m, while US venture firm Greenspring Crossover Ventures invested $1m, according to the latest update to GlassHouse’s initial public offering filing. The recent $5m investment was in addition to an earlier $5m investment by Citrix in the series F round. Dow Jones Venture Source said the latest investment took the round to $20.8m.
Since 2001, the company has raised $82m in preferred stock and $68m in debt. The company owes Dell roughly $38.5m in debt payments.
The largest shareholders in Glasshouse are venture firms Sigma Partners (26.8%), Grandbanks Capital (12.2%), Kodiak Venture Partners (9.9%) Paladin Capital Group (8.3%). Citrix presumably has less than a 5% stake, as it is not mentioned in the list of stockholders with greater than 5% of the company.
Glasshouse’s float is advised by the following banks Stifel Nicolaus Weisel, William Blair & Company, Oppenheimer & Co and Needham & Company. The underwriters have changed since January this year, when Goldman Sachs and Credit Suisse were leading the offering.
Glasshouse had $98.9m in reported revenues in 2010 and posted a loss of $25.9m that year. GlassHouse originally listed to float in 2007.