Cyber startup Island raises $250 million at $4.8 billion valuation
The cybersecurity company has more than quadrupled its valuation since October 2023 as demand for secure enterprise browsers grows.
Cybersecurity startup Island, which develops a secure enterprise browser, has raised $250 million in Series E funding at a $4.8 billion valuation. Island raised $175 million in a Series D financing round in April 2024, doubling its valuation to $3 billion. Island, which raised $100 million in a Series C at a $1.5 billion valuation in October 2023, has raised a total of over $730 million to date.
The Series E was led by Coatue and included existing investors. Island's investors include Sequoia Capital, Insight Partners, Stripes, Georgian, Cyberstarts and Prysm Capital.
Island, founded by CEO Mike Fey and CTO Dan Amiga, employs over 450 people, 200 of them in Tel Aviv where Amiga leads the operations.
Fey was previously president and COO at Symantec and GM and CTO of McAfee. Amiga was previously the founder and CTO of Fireglass. Amiga is a serial entrepreneur who met Fey when Symantec acquired Fireglass for $250 million. Amiga was involved in founding and investing in several other cyber startups, all involving former Fireglass staff, including Axis Security, Cycode, and Build.Security, which was acquired by Elastic in August 2021.
The Island Enterprise Browser aims to provide enterprises with advanced security, IT and network controls, data protections, application access and advanced productivity features in a browsing experience. Using the Island Enterprise Browser, security teams fully control the last mile, from basic protections such as copy, paste, download, upload, and screenshot capture, to more advanced security demands such as data redaction, watermarking and multi-factor authentication insertion.
“The Enterprise Browser upgrades web browsers from a dedicated consumer software package to an enterprise-ready solution, adding value to knowledge workers, IT departments, and security teams. Island improves productivity, simplifies the IT stack, reduces complexity, and embeds security,” said Mike Fey, CEO and Co-founder of Island. “Organizations of all sizes and industries have made Island the cornerstone of their IT modernization initiatives. The new funding will help scale our product development and talent acquisition to meet enterprises’ demanding and evolving IT needs.”
According to the company, since emerging from stealth mode in February 2022, it has signed 450 customers, with annual recurring revenue more than doubling each year following.
“This round marks a major milestone for Island and will allow us to accelerate innovation and strengthen our position as a global category leader,” said Dan Amiga, CTO and Co-Founder of Island. “Building a new category like the Enterprise Browser takes more than just technology — it demands deep partnerships and mutual trust between our engineering teams and the IT and security leaders at the world’s top organizations. Our collaboration with customers has been key to our success — they helped us identify real-world challenges and design a solution that combines security, efficiency, and a smooth user experience that’s never been seen in the enterprise world.”
