Fortinet Lands $30 Million In FundingFortinet Lands $30 Million In Funding
Hardware maker secures another round of funding as the market for security software continues to grow.
August 26, 2003
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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