With the completion of a $175 million Series D investment round, cybersecurity firm Island—which creates a secure enterprise browser—has doubled its valuation to $3 billion. Just six months ago, Island raised $100 million in a Series C round at a $1.5 billion valuation, bringing its total capital to $487 million.
Coatue, a new investor, and Sequoia Capital, an existing investor, led the round. Other current investors included Insight Partners, Stripes, Georgian, and Prysm Capital.
Founded by CTO Dan Amiga and CEO Mike Fey, Island has 250 employees, 150 of whom are based in Tel Aviv under Amiga’s direction. The company is thought to bring in tens of millions of dollars a year.
Fey was formerly GM and CTO of McAfee, as well as president and COO of Symantec. Previously, Amiga founded Fireglass and served as its CTO. Amiga, a seasoned businesswoman, first connected with Fey during Symantec’s $250 million acquisition of Fireglass. Axis Security, Cycode, and Build.Security—all of which had employees from Fireglass—were among the cyber businesses that Amiga founded or invested in. Build.Security was eventually bought by Elastic in August 2021.
The goal of the Island Enterprise Browser is to offer businesses enhanced productivity capabilities, data protection, IT and network controls, better security, and application access while browsing. Security teams have complete control over the last mile when they use the Island Enterprise Browser, from simple security features like copy, paste, download, upload, and screenshot capture to more complex security requirements like data redaction, watermarking, and the insertion of multi-factor authentication.
“Enterprises require advanced security and productivity features that consumer browsers were never built to deliver,” stated Fey. “We knew this would address critical pain points, but we’ve been thrilled at how quickly customers have adopted Island at scale – from major hotel chains and leading banks to national retailers and smaller enterprises. We’re fortunate to have these dynamic companies as our design partners, and this new funding will enable us to invest more in R&D and customer success globally.”