Internet browser data security company Island has announced the completion of a $175 million Series D financing round at a valuation of $3 billion led by Sequoia Capital and Coatue. This brings to $487 million the total amount raised by Island.
Island, founded by Mike Fey and Dan Amiga, provides data security for browsers, mainly Chrome, for enterprises. This is one of the most vulnerable points in a company's assets. Headquartered in Dallas, the company has 250 employees including 150 employees in its Tel Aviv development center. The company plans to double its workforce in the development center.
Only six months ago Island raised $100 million at a company valuation of $1.5 billion in a round led by Prysm Capital. In November 2023, Palo Alto Networks acquired Talon Cybersecurity, one of Island's rivals in the browser security sector, for $500 million.
Fey said, "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."
Published by Globes, Israel business news - en.globes.co.il - on April 30, 2024.
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