Island, a late-stage startup selling an enterprise browser, raised $250 million in Series E funding. This round, led by Coatue Management, pushes Island’s total funding to $730 million since its 2020 launch. The funding boosts Island’s valuation to nearly $5 billion, signaling investor confidence in the security browser space. Despite competition from Microsoft and Google, Island continues to attract investment with its security-themed browser aimed at enterprises.
Island’s browser replaces consumer-grade web browsers, often vulnerable to cyberattacks, with a security-focused enterprise solution. CEO Mike Fey highlights the browser’s benefits, including enhanced productivity, simplified IT infrastructure, and embedded security features. Island’s enterprise browser addresses key security concerns, including managing sensitive actions like copy-paste, downloads, and screenshots. Advanced security features include data redaction, watermarking, and multi-factor authentication.
The company plans to use the new funding to accelerate product development and expand its team. Island’s workforce now includes about 500 employees, with more than 200 focused on product development and engineering. Since emerging from stealth mode in February 2022, Island has secured around 450 customers across diverse sectors, including Fortune 1000 companies, government agencies, and educational institutions. The company is positioned as a key player in IT modernization initiatives for organizations looking to enhance their security posture.
This funding round comes amid Microsoft’s push into the enterprise browser market with its “Microsoft Edge for Business” product. Google has also targeted businesses with a security-focused version of Chrome, offering tools to protect against web threats. Despite these competitive pressures, Island remains optimistic about its growth, focusing on providing enterprises with better security controls and streamlined browser management.
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