Enterprise browser startup Island has announced its next major funding round, significantly increasing the company's valuation. The Dallas-based startup raised $250 million in a Series E funding round led by Coatue, bringing its total valuation to $4.85 billion. This round also brings Island's total funding to $730 million. Other investors in the round include Insight Partners, Sequoia, and Canapi Ventures.
Island develops secure browsers designed for corporate environments. Unlike traditional search engines, these browsers offer universal application access control, device visibility and management, as well as automation features.
This new investment marks a major leap for the startup. Just 11 months ago, the company raised $175 million in a Series D round, valuing it at $2.9 billion. That round was co-led by Sequoia and Coatue.
Sequoia partner Doug Leone stated that he was interested in Island from the beginning. According to him, the company’s two founders—technical expert Dan Amiga from Israel and senior U.S.-based security executive Mike Fey—came together with the idea of building a Chromium-based browser. While it looks like a standard web browser, it has advanced security features designed to prevent cyber threats.
Interest in Island’s services continues to grow, with the startup now boasting 450 customers, including well-known companies such as Mattress Firm, Swiss Life, and Fiverr.
