Enterprise browser company Island has announced the completion of a $100 million Series C financing round, at a company valuation of $1.5 billion. The round was led by Prysm Capital with participation from Canapi Ventures, and existing investors Insight Partners, Stripes, Sequoia, Cyberstarts and Georgian.
This latest financing round brings the total raised by Island to over $325 million. In Island's most recent financing round in March 2022, the company raised $115 million at a valuation of $1.3 billion.
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.
To date, Island says it has sold over 2 million browsers to customers in all major verticals and segments and has multiple customers ranking in the top 20 of the Fortune 100. The Island Enterprise Browser is solving some of the most pressing challenges customers face including securing BYOD, work-from-anywhere patterns, and contractor access. Beyond security, Island is also helping customers boost workforce productivity and improve user experience, enabled by a mature and comprehensive solution set that spans all devices, operating systems, and application types.
Fey said, "This capital infusion will accelerate our ability to scale globally and continue to aggressively invest in R&D, customer success and geographic expansion to cover the major global buying centers. We are incredibly proud and humbled by our success to date and look forward to driving growth together with our new partners."
Published by Globes, Israel business news - en.globes.co.il - on October 24, 2023.
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