Enterprise browser company Island announced a $250 million Series E funding round. This brings Island’s valuation to $4.8 billion in under five years since its 2020 founding. Coatue Management led the new funding, with several existing investors participating. And Island has secured about $730 million in outside investment to date.
Island has about 500 employees, more than 200 of whom are in product development and engineering. The company emerged from stealth mode in February 2022. Since then, it has won 450 customers, and its annual recurring revenue has more than doubled each year.
Island has seen major traction across every major vertical and organization size, from Fortune 1000 enterprises to small and midmarket companies to government agencies and higher education institutions.
The Island Enterprise Browser has an enterprise workspace where application delivery is simple, data is fundamentally secure, and work itself is smooth. By embedding the core IT, security, and productivity needs into the browser itself, Island provides organizations with unprecedented last-mile control, enabling them to govern all browser activity precisely.
IT teams log and audit work activity while keeping personal browsing private and security teams protect sensitive data from even the most sophisticated attacks, with a secure-by-design architecture. Plus, users gain productivity-enhancing features while working in the familiar Chromium-based browser experience.
Leading enterprises across all industries use the Enterprise Browser to deliver secure access to SaaS and web apps, enable zero-trust network access, make BYOD viable, onboard contractors in minutes rather than weeks, support M&A transitions, and reduce reliance on virtual desktop infrastructure (VDI).
KEY QUOTES:
“The Enterprise Browser upgrades web browsers from a dedicated consumer software package to an enterprise-ready solution, adding value to knowledge workers, IT departments, and security teams. Island improves productivity, simplifies the IT stack, reduces complexity, and embeds security. Organizations of all sizes and industries have made Island the cornerstone of their IT modernization initiatives. The new funding will help scale our product development and talent acquisition to meet enterprises’ demanding and evolving IT needs.”
– Mike Fey, CEO and Co-founder of Island
“Customer collaboration has been the key to building the Enterprise Browser since day one. Creating and growing a new category requires deep technical partnerships and maximum trust between CIOs, CISOs, and product teams. Our customers’ input has been invaluable to securing their sensitive data, eliminating IT inefficiencies, and making IT work best for end users.”
– Dan Amiga, CTO and Co-founder of Island
“We’re thrilled to continue our partnership with Island as they scale their vision and bring greater security and productivity to the modern workplace. Island’s world-class executive team has continued to deliver a product that drives immense value for enterprise executives and end users alike. As AI adoption continues to accelerate, Island is helping establish a new industry standard. Companies of all sizes should now rely on secure environments like Island to remain competitive and protect their operations. We look forward to supporting their next stage of growth.”
– David Schneider, General Partner at Coatue
