The US-Israeli cybersecurity company Island, run by former Symantec president Mike Pye and serial entrepreneur Dan Amiga, raised in Series E $250 million. The company now has a valuation of $5 billion according to ‘Island”.
Coatue Management led the new funding, with several existing investors participating in the round. Island has secured approximately $730 million in outside investment to date.
Its main product is a special browser for enterprises and companies.
The Island Enterprise Browser is the ideal enterprise workspace, where application delivery is simple, data is fundamentally secure, and work itself is smooth and natural. By embedding the core IT, security, and productivity needs into the browser itself, Island provides organizations with unprecedented last-mile control, enabling them to precisely govern all browser activity.
IT teams log and audit work activity while keeping personal browsing private. Security teams protect sensitive data from even the most sophisticated attacks, with a secure-by-design architecture. And users gain productivity-enhancing features while working in the familiar Chromium-based browser experience.
Leading enterprises across all industries are using the Enterprise Browser to deliver secure access to SaaS and web apps, enable zero-trust network access, make BYOD viable, onboard contractors in minutes not weeks, support smooth M&A transitions, reduce reliance on virtual desktop infrastructure (VDI), and transform how work gets done.
Island has approximately 500 employees, with more than 200 in product development and engineering. Island emerged from stealth mode in February 2022. Since that time, the company has won 450 customers, with annual recurring revenue more than doubling each year following.
Island created the Enterprise Browser, a simplified enterprise workspace delighting CIOs, CISOs, and end users. Organizations in defense, financial services, government, higher education, hospitality, manufacturing, and retail modernize their security and jumpstart productivity with a browsing experience they know
Based on the press release of the company. Selected as relevant/reordered/shortened by VonNaftali. Pic AI-generated. Illustrative.