Enterprise browser company Island announced the participation of Citi Ventures, a venture capital arm of Citigroup, in its previously announced Series D funding round. Coatue Management and Sequoia Capital led this Series D funding round, valuing the company at $3 billion.
This investment reaffirms Island’s value to banks and accelerates its mission to transform the future of work in financial services and beyond by building the security needs of the enterprise directly into the browser and creating an intuitive end-user experience.
Island provides IT and security organizations complete control over the last mile of user activity with software as a service (SaaS) and web applications. The Enterprise Browser streamlines and strengthens security postures, improves productivity for employees and contractors, and reduces costs by modernizing enterprises’ IT infrastructure
The Island Enterprise Browser is the workspace of the future, enabling organizations to deliver applications to their audiences with a familiar browsing experience. As users easily work within their applications, Island can keep users and any enterprise data they encounter safe when they interact with SaaS and internal applications.
Utilizing the Island Enterprise Browser, organizations can provide control at the last mile of any browser-based application, ensuring protections from copy, paste, download, upload, and screenshot capture to more advanced security demands such as data redaction, watermarking, and multi-factor authentication.
This opens up various enterprise browser use cases, including securing applications from data leakage, safe access for contractors and BYOD workers, and full governance over privileged user accounts. Island reduces network complexity for IT teams by delivering a native user experience for the hybrid worker in contrast to costly and poor-performing virtual desktop infrastructure (VDI) while supporting built-in safe browsing, web filtering, web isolation, exploit prevention, and zero-trust network access at much lower cost.
KEY QUOTES:
“Over the last twenty years, we’ve seen the rise of SaaS applications and the deployment of desktop applications to the browser. As applications move into the browser and off the operating system, the browser has become of increasing importance and an ideal place to implement security controls and monitoring. We believe Island has built a best-in-class browser to meet these new security requirements, while also providing functionality to dramatically improve user experience and productivity.”
-Matt Carbonara, Head of Enterprise Tech Investing at Citi Ventures
“Enterprises with the most rigorous data security requirements continue to simplify their IT stacks with an enterprise browser. CIOs, CISOs, and their teams have the ideal platform to enhance cybersecurity and drive down costs while delighting end users with unmatched productivity gains. Citi Ventures can bring unique perspective and support to help us expand our footprint in the critically important financial services market worldwide.”
-Island CEO and Co-founder Mike Fey
