Lacework

lacework.com →

-57%

est. 2Y upside i

CybersecuritySeries D+

Cloud security platform for threat detection and compliance

Rank

#4112

Sector

Cybersecurity

Est. Liquidity

~0Y

Data Quality

Data: High

Lacework was acquired by Fortinet in June 2024 for an estimated $150-230 million, a drastic reduction from its prior peak valuation of $8.3 billion.

Last updated: March 10, 2026

Bull (10%)+20%

The Lacework product line successfully integrates into Fortinet's portfolio, exceeding internal growth targets and contributing significantly to Fortinet's cloud security market share, leading to a hypothetical internal re-valuation of the Lacework unit within Fortinet by 20% over two years.

Base (40%)0%

Lacework's integration into Fortinet proceeds as expected, maintaining its market position within Fortinet's cloud security offerings, but without significant additional value creation beyond its acquisition price over a two-year horizon.

Bear (50%)-30%

The Lacework product line struggles with integration challenges or faces intensified competition within Fortinet, leading to underperformance and a potential write-down of its internal value by 30% within Fortinet over two years.

Est. time to liquidity~0.0 years

Adjusted for competitive dynamics: -33% (raw: -57%, adjustment: -20%)

Preference Stack Risk

severe

Funding Intensity

67%

Investors funded $1.9 billion, but Lacework was acquired for an estimated $150-230 million, meaning common shareholders likely received little to nothing after liquidation preferences.

Dilution Risk

high

Prior funding rounds at significantly higher valuations likely led to substantial dilution for early common shareholders, which was ultimately not realized in the acquisition.

Secondary Liquidity

none

As Lacework has been acquired, there is no active secondary market for its standalone equity.

Other — 5 roles

View all 5 open roles at Lacework →

Last updated: February 17, 2026

Questions to Ask at the Interview

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

1
“Given Lacework's acquisition by Fortinet, how is the integration progressing, and what are the key strategic priorities for the Lacework product line within Fortinet's broader security portfolio over the next 12-24 months?”
2
“Lacework previously faced strong competition from players like Wiz and Orca Security. How does Fortinet plan to leverage Lacework's technology and market position to compete more effectively in the cloud security space?”
3
“Considering the significant valuation adjustment during the acquisition, how does Fortinet structure equity compensation for employees joining the Lacework team, and what are the long-term growth opportunities for this business unit within Fortinet?”