# Fortinet

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fortinet

- Industry: IT Security/Cybersecurity
- Headquarters: Sunnyvale, US
- Website: www.fortinet.com
- Total disclosed funding: $39M
- Latest round: Series D (Aug 26, 2003)
- Investors on record: 3

## About

Based in the US, Fortinet, Inc. provides advanced cybersecurity solutions that secure networks and applications for businesses worldwide. Their products enhance the security posture of organizations through integrated security and networking capabilities.Fortinet, Inc. was founded in 2000 in Sunnyvale, US, by Ken Xie and Michael Xie. The company specializes in cybersecurity solutions, focusing on protecting networks and applications. Fortinet became public in November 2009 after filing for an IPO in August 2009, raising USD 179.7 mn. The company has completed a total of 5 deals over its history.Fortinet offers a comprehensive suite of cybersecurity solutions that integrate advanced security features with networking capabilities. Their extensive product lineup includes Next-Generation Firewalls (NGFW), Secure SD-WAN, and cloud security services, designed to protect diverse environments. Fortinet's services cater to critical use cases like threat detection and response while ensuring secure access for remote users, serving a varied clientele globally across North America, Europe, Asia-Pacific, and Latin America.In the most recent year 2024, Fortinet reported a revenue of USD 5,955.80 mn and an EBITDA of USD 1,926.20 mn. The company primarily generates revenue through direct sales and subscription services, engaging business-to-business clients across various industries with structured pricing plans that often lead to multi-year agreements.Fortinet is focused on expanding its product offerings and entering new markets. The company plans to launch new security solutions aimed at enhancing cloud and endpoint security by the end of 2024. Fortinet is also targeting expansion into emerging markets in Asia and South America within the next two years. The proceeds from their IPO will be utilized to support these initiatives, further strengthening their market presence and service capabilities.

## Funding rounds

- Series D, Aug 26, 2003, $30M — Meritech Capital Partners, Redpoint Ventures
- Series B, Jul 16, 2002, $9M — DEFTA Partners

## Investors

- DEFTA Partners (https://capitalatlas.ai/funds/defta-partners) — Series B
- Meritech Capital Partners (https://capitalatlas.ai/funds/meritech-capital-partners) — Series D
- Redpoint Ventures (https://capitalatlas.ai/funds/redpoint-ventures) — Series D