Enterprise browser company Island announced a $175 million Series D funding round. This new round brings Island’s valuation to $3 billion, doubling the last valuation from less than a year ago. This funding round was led by new investor Coatue and existing investor Sequoia Capital, with additional funding from other existing investors.
Island raised $487 million in outside investment to date, including a strategic investment from Capital One Ventures. And Island pioneered the category with a product launch in February 2022, coming out of stealth after two years of technology development led by co-founders Mike Fey (CEO) and Dan Amiga (CTO). And Island has now gained significant traction with large and small enterprises across all major industries, including several Fortune 100 customers.
Island’s Enterprise Browser offers advanced security, IT and network controls, data protections, application access and advanced productivity features. And the benefits are significant for business leaders, IT security leaders and end users, offering secure access and enhanced productivity via any device, any location and any network, while significantly reducing software and operational costs.
The Island Enterprise Browser enables organizations to protect users and data, reducing friction where they interact with SaaS and internal web applications. And with the Island Enterprise Browser, security teams fully control the last mile, from basic protections like copy, paste, download, upload, and screenshot capture, to more advanced security demands such as data redaction, watermarking and multi-factor authentication insertion. This helps a growing number of enterprise use cases, including securing critical SaaS and internal web applications from data leakage, safe access for contractors and BYOD workers, and full governance over privileged user accounts. Plus, it also delivers a native user experience for hybrid workers 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:
“We believe Island has built a product that meets the needs of CIOs, CISOs and end users all at the same time – and has delivered tremendous ROI across multiple verticals. Island’s continued customer traction demonstrates that the team has potential to execute, grow and innovate at scale. Coatue is excited to join Island on their journey as they seek to redefine the enterprise browser.”
- David Schneider, general partner at Coatue
“Island is now an established leader in one of the most exciting new categories in cybersecurity and enterprise software. Since partnering at the Series A, we’ve seen first-hand how Island delivers value and empowers customers, working collaboratively with them to drive adoption and spur innovation across multiple use cases.”
- Doug Leone, partner at Sequoia
“Enterprises require advanced security and productivity features that consumer browsers were never built to deliver. 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.”
- Mike Fey
