In Short: Fortinet Raises Funds

Security hardware maker Fortinet Inc. last week raised $30 million in funding. This round, led by Redpoint Ventures, brings Fortinet's total funding to more than $43 million since the company's founding in 2000. Fortinet's security gateways provide anti-virus protection, monitor inappropriate Web use, and offer firewall, VPN, intrusion-detection, and network traffic management. Fortinet is "going to need a lot of cash to compete" against products from Symantec Corp. and Internet Security Systems, says Pete Lindstrom, research director at Spire Security.