Cybersecurity company Island today announced that it has completed a $115 million Series B financing round at a valuation of $1.3 billion. The round was led by Insight Partners, with the participation of existing investors Stripes and Sequoia Capital. This brings Island’s total funds raised to over $200 million.
It was only at the start of last month that Island announced that it had come out of stealth after two years of product development of an enterprise browser, which it claims transforms security, control, visibility and governance.
Island says, "By building the core needs of the enterprise into the browser itself, the Island Enterprise Browser provides organizations with complete visibility and last-mile control, producing unprecedented improvements in security, IT, and productivity, all while delivering the same Chromium-based experience end-users expect."
Headquartered in Dallas with R&D in Tel Aviv, Island is led by co-founder and CEO Mike Fey, previously president and COO at Symantec and GM and CTO of McAfee; and co-founder and CTO Dan Amiga, inventor of web isolation technology and previously founder and CTO of Fireglass.
Fey said, "Island has created a whole new way of thinking about enterprise work. By fundamentally transforming the work environment to be secure-by-design, the Island Enterprise Browser enables organizations to achieve entirely new levels of security, productivity, and IT efficiency. The enthusiasm from our customers and the IT community has been extraordinary."
Amiga added, "When we set out to build the Enterprise Browser, we aimed to deliver tremendous value to security professionals from day one, and it's exciting to see that we're already accomplishing that. But what we're noticing now is the huge opportunity to solve previously insurmountable problems not only in the security space, but across productivity and IT as well."
Insight Partners cofounder and managing director Jeff Horing said, "When a revolutionary product meets a real market need, it is essential to capitalize on that momentum and continue to expand the opportunity. Island is in a position to significantly change the industry, and this capital infusion will help drive continued leadership and innovation in the emerging Enterprise Browser category."
Published by Globes, Israel business news - en.globes.co.il - on March 23, 2022.
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