-5%

est. 2Y upside i

CybersecuritySeries D+

Cloud security platform for threat detection and compliance

Rank

#2415

Sector

Cybersecurity

Est. Liquidity

~1Y

Data Quality

Data: Low

Lacework has been acquired by Fortinet, so equity is now tied to Fortinet's stock.

Last updated: July 21, 2026

Bull (10%)+20%

Fortinet outperforms market, driving value for Lacework division. Bull case assumes 20% upside in Fortinet stock over 2 years.

Base (55%)0%

Fortinet stock performs in line with market, resulting in no material change in equity value.

Bear (35%)-20%

Fortinet underperforms due to integration challenges or cybersecurity slowdown. Bear case assumes 20% downside.

Est. time to liquidity~1.0 years

Preference Stack Risk

high

Funding Intensity

23%

Total funding of $1.9B represents 23% of the stale $8.3B valuation, indicating high preference overhang.

Dilution Risk

low

Given the acquisition, no further equity raises are expected, so dilution risk is minimal.

Secondary Liquidity

active

As a subsidiary of a public company, equity is liquid after vesting.

Finance — 27 roles

View all 27 open roles at Lacework →

Last updated: July 3, 2026

Questions to Ask at the Interview

Strategic questions based on Lacework's data — designed to show you've done your homework.

  • 1

    “How has Lacework's product been integrated into FortiCNAPP?”

  • 2

    “What are the key growth drivers for Lacework within Fortinet?”

  • 3

    “What is the equity structure for new hires? Are RSUs subject to any lockup?”

Community

Valuation Sentiment

Our model estimates -5% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.