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8/26/2003
01:23 PM
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Fortinet Lands $30 Million In Funding

Hardware maker secures another round of funding as the market for security software continues to grow.

The market to provide security defenses against viruses, worms, and other E-mail and Web-application attacks is heating up. Security hardware maker Fortinet Inc. today landed $30 million in series D funding. This round, led by Redpoint Ventures, brings Fortinet's total funding to date to more than $43 million since the company's founding in 2000.

Fortinet's series of Fortigate security gateways provide antivirus protection, inappropriate Web content, as well as a firewall, VPN, intrusion detection, and network traffic management.

Fortinet competes against similar products from Symantec and Internet Security Systems, says Pete Lindstrom, research director at Spire Security. Says Lindstrom: "They're going to need a lot of cash to compete with ISS and Symantec."

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