Cyber startup Island doubles valuation to $3 billion in $175 million Series D
Cyber startup Island doubles valuation to $3 billion in $175 million Series D
Island raised $100 million at a $1.5 billion valuation just six months ago
Cybersecurity startup Island, which develops a secure enterprise browser, has raised $175 million in a Series D financing round, doubling its valuation to $3 billion. Island, which raised $100 million in a Series C at a $1.5 billion valuation just six months ago, took its total funding to date to $487 million.
The round was led by new investor Coatue and existing investor Sequoia Capital and also included other existing investors such as Insight Partners, Stripes, Georgian, and Prysm Capital.
Island, founded by CEO Mike Fey and CTO Dan Amiga, employs 250 people, 150 of them in Tel Aviv where Amiga leads the operations. The company is estimated to have annual revenue in the tens of millions of dollars.
Fey was previously president and COO at Symantec and GM and CTO of McAfee. Amiga was previously the founder and CTO of Fireglass. Amiga is a serial entrepreneur who met Fey when Symantec acquired Fireglass for $250 million. Amiga was involved in founding and investing in several other cyber startups, all involving former Fireglass staff, including Axis Security, Cycode, and Build.Security, which was acquired by Elastic in August 2021.
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The Island Enterprise Browser aims to provide enterprises with advanced security, IT and network controls, data protections, application access and advanced productivity features in a browsing experience. Using the Island Enterprise Browser, security teams fully control the last mile, from basic protections such as copy, paste, download, upload, and screenshot capture, to more advanced security demands such as data redaction, watermarking and multi-factor authentication insertion.
“Enterprises require advanced security and productivity features that consumer browsers were never built to deliver,” said Fey. “We knew this would address critical pain points, but we’ve been thrilled at how quickly customers have adopted Island at scale – from major hotel chains and leading banks to national retailers and smaller enterprises. We’re fortunate to have these dynamic companies as our design partners, and this new funding will enable us to invest more in R&D and customer success globally.”
