Island raises $115 million to enable innovation on Enterprise Browser
Island, creator of the Enterprise Browser, announced that it has raised $115 million in its Series B financing round at a $1.3 billion valuation.
The round was led by New York-based global venture capital and private equity firm Insight Partners, which led Island’s prior financing round. Existing investors Stripes and Sequoia Capital also participated in this round, bringing Island’s total funds raised to over $200 million.
This round follows Island’s emergence from stealth on Feb. 1 when it introduced the world’s first Enterprise Browser. By building the core needs of the enterprise into the browser itself, the Island Enterprise Browser provides organizations with complete visibility and last-mile control, producing unprecedented improvements in security, IT, and productivity, all while delivering the same Chromium-based experience end-users expect.
“Island has created a whole new way of thinking about enterprise work. By fundamentally transforming the work environment to be secure-by-design, the Island Enterprise Browser enables organizations to achieve entirely new levels of security, productivity, and IT efficiency. The enthusiasm from our customers and the IT community has been extraordinary.” said Mike Fey, Island CEO and Co-founder. “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 in front of us.”
“When we set out to build the Enterprise Browser, we aimed 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 accomplishing that. But what we’re noticing now is the huge opportunity to solve previously insurmountable problems not only in the security space, but across productivity and IT as well. This new funding ensures we will be able to harness even more of this amazing potential.”
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. By using the Island Enterprise Browser, security teams can fully control the last mile, from basic exfiltration protections such as copy, paste, download, upload, and screenshot capture, to more advanced security demands such as smart network routing and multi factor authentication insertion.
This opens up unprecedented opportunities across a growing number of enterprise use cases, including securing critical SaaS and internal web applications from data leakage, safe access for contractors and BYOD workers, and full governance over privileged user accounts. It also delivers a native user experience for the hybrid worker in contrast to costly and poor-performing virtual desktop infrastructure (VDI), while supporting built-in safe browsing, web filtering, web isolation, exploit prevention, and Zero Trust network access at much lower cost and with a significantly better user experience.
Investment partners
“When a revolutionary product meets a real market need, it is essential to capitalize on that momentum and continue to expand the opportunity,” said Jeff Horing, co-founder and Managing Director, Insight Partners. “Island is in a position to significantly change the industry, and this capital infusion will help drive continued leadership and innovation in the emerging Enterprise Browser category.”
“Stripes believes that amazing products are the foundation upon which every successful business is built, and we seek investment opportunities with that core focus,” said Ken Fox, founder and partner, Stripes. “Our market research on this space shows a real need and robust customer response to the Island Enterprise Browser category, which naturally led us toward a substantial increased investment in this significant opportunity.”
“The potential for the Island Enterprise Browser to disrupt and fundamentally improve the cyber security and IT landscape is significant.” said Doug Leone, global managing partner, Sequoia Capital.