Touboul back in driver's seat: Finjan reaches profitability in Q4

Content information security firm Finjan Software is currently raising a financing round of several million dollars.

Founder, CEO, and Chairman Shlomo Touboul declined to disclose the volume of the round or the identity of the investors, but said that the first phase of the two-phase round has been completed. Venture capital funds Bessemer and CSK from Japan are among Finjan's previous investors.

Touboul noted that the company achieved profitability in Q4 2001, and expects to break even in Q1 2002. He expects continued profitability but that it is very hard to these days forecast.

The company's products offer system protection against malicious code by checking the file features on the network and at the end station.

Finjan, founded in 1996, was not considered to have fulfilled the promise of a $10 million 1997 fundraising round, very impressive at the time. However, at the end of 2000, Finjan secured $5 million at a $20 million post-money company value.

Touboul left the company in 1998 but after a month returned as a consultant, and was recently appointed as CEO.

The company laid off 30 workers out of a workforce of 70 in mid-2001 in a reorganization effort. In November 2001, American anti-virus maker McAfee announced its products would incorporate Finjan proactive security technology.

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