Island Raises $115M in Series B Funding to Enable Massive Enterprise Browser Innovation | News

DALLAS–(BUSINESS WIRE)–March 23, 2022–

Island, creator of Enterprise Browser, today announced that it has raised $115 million in its Series B funding round at a valuation of $1.3 billion. The round was led by Insight Partners, a New York-based global venture capital and private equity firm, which led Island’s previous funding round. Existing investors Stripes and Sequoia Capital also participated in this round, bringing the total funds raised by Island to over $200 million.

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Island is led by co-founder and CEO Mike Fey, and co-founder and CTO Dan Amiga (Photo: Business Wire)

This round follows Island’s emergence from stealth on February 1 when it introduced the world’s first enterprise browser. By integrating core business needs into the browser itself, Island Enterprise Browser gives organizations complete visibility and last-mile control, delivering unprecedented improvements in security, IT and productivity, while delivering the same Chromium-based experience. users wait.

“Island has created a whole new way of thinking about corporate work. By fundamentally transforming the working environment to be secure by design, Island Enterprise Browser enables organizations to achieve entirely new levels of IT security, productivity and efficiency. The enthusiasm from our customers and the IT community has been overwhelming. said Mike Fey, CEO and co-founder of Island. “The new investment from Insight Partners and increased investment from our original funding partners validates our product-market fit, accelerates our momentum and highlights the huge opportunity before us.”

“When we set out to create the enterprise browser, our goal was to deliver tremendous value to security professionals from day one,” said Dan Amiga, co-founder and CTO, Island. “And it’s exciting to see that we’re already doing that. But what we are noticing now is the huge opportunity to solve previously insurmountable problems, not only in the area of ​​security, but also in the area of ​​productivity and IT. This new funding ensures that we will be able to exploit this incredible potential even more.

The enterprise browser

The enterprise browser is the desktop of the future, enabling organizations to protect users and data at the very point where they interact with SaaS and internal web applications. Using Island Enterprise Browser, security teams can fully control the last mile, from basic exfiltration protections such as copy, paste, upload, download, and screenshot capture, to more advanced security requirements such as intelligent network routing and multi-factor authentication insertion. This opens up unprecedented opportunities in a growing number of enterprise use cases, including securing critical internal SaaS and web applications against data leaks, secure access for contractors and BYOD employees, and full governance over privileged user accounts. It also delivers a native user experience for the hybrid worker unlike expensive and low-performance virtual desktop infrastructure (VDI), while supporting built-in safe browsing, web filtering, web isolation, exploit prevention, and access to the Zero Trust network at a much lower cost and with a significantly better user experience.

Our investment partners

“When a breakthrough product meets a real market need, it’s critical to capitalize on that momentum and continue to expand the opportunity,” said Jeff Horing, co-founder and managing director of Insight Partners. “Island has the potential to dramatically change the industry, and this injection of capital will help drive leadership and innovation in the emerging enterprise browser category.”

“Stripes believes that amazing products are the foundation on which any successful business is built, and we seek out investment opportunities with that primary focus,” said Ken Fox, Founder and Partner of Stripes. “Our market research on this space shows real need and strong customer response to the Island Enterprise Browser category, which naturally led us to a substantial increased investment in this important opportunity.”

“The potential for Island Enterprise Browser to fundamentally disrupt and improve cybersecurity and the IT landscape is significant.” said Doug Leone, Global Managing Partner, Sequoia Capital.

About the island

Island, the enterprise browser is the ideal corporate workplace, where work flows freely while remaining fundamentally secure. With core business needs naturally built into the browser itself, Island gives organizations complete last-mile control, visibility, and governance, while delivering the same smooth Chromium-based browser experience users enjoy. wait. Led by experienced leaders in enterprise security and navigation technology and backed by leading venture capital funds – Insight Partners, Sequoia Capital, Cyberstarts and Stripes – Island is redefining the future of work for some of the largest and most respected companies in the world. Island is based in Dallas with research and development in Tel Aviv and can be reached at [email protected] or (866) 832-7114.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220323005242/en/

CONTACT: Hannah Carroll/Mary Amenta

Matter Communications for the Island

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: DATA MANAGEMENT SECURITY TECHNOLOGY SOFTWARE MOBILE/WIRELESS INTERNET

SOURCE: Island

Copyright BusinessWire 2022.

PUBLISHED: 03/23/2022 09:00/DISC: 03/23/2022 09:02

http://www.businesswire.com/news/home/20220323005242/en

Lynn A. Saleh