Enterprise browser startup Island just raised a sizable funding round — one that bumps up its valuation significantly, and less than one year after its last fundraise.
Dallas-based Island raised $250 million in a Series E round led by Coatue that valued the company at $4.85 billion, the startup announced today. This brings the company’s total funding to $730 million. Other backers in the round include Insight Partners, Sequoia and Canapi Ventures, among others.
Island builds online browsers that are designed for enterprises and are meant to be more secure than traditional commercial search engines. They also have universal application access control, device visibility and management, and application automation, among other features.
This Series E round marks a notable step up for the nearly five-year-old company. It raised $175 million in a Series D round that valued the company at $2.9 billion just 11 months ago co-led by Sequoia and Coatue.
At the time, Sequoia partner Doug Leone told Tech Zone Daily that he was attracted to the company right off the bat due to Island’s team and unique value proposition.
“The two founders, one of whom was a technical founder out of Israel — Dan Amiga — and one who was a very senior security executive out of the U.S. — Mike Fey — had a vision that if you could produce a browser based on Chromium that looks like a standard browser to the consumer employee in a corporation but was secure, it would stop bad guys from doing a whole bunch of things,” Leone told Tech Zone Daily at the time.
Enterprises are clearly buying into the mission, too, as the company now counts 450 customers, among them Mattress Firm, Swiss Life and Fiverr.
Tech Zone Daily reached out to Island for more information.
