A Dallas-based startup that built a secure browser for the enterprise has raised $115 million in a Series B round, just weeks after emerging from stealth with $100 million in initial funding.
The New York-based venture capital firm raised over $20 billion for its 12th flagship fund just weeks ago, and the fast raise was led by previous lead investor Insight Partners.
Island created a security-focused browser for enterprise users. copy and paste and screen-shotting are disabled in the enterprise browser to make sure critical data isn't exposed outside of an organization and to provide secure access for contractors. It has built-in security features like web filtering, web isolation, exploit prevention, smart network routing and zero-trust access.
The investment is a result of customer demand since it launched in February, according to Island CEO Michael Fey.
Our team has been able to secure business in a wide range of sectors. This raise with the participation of our original investors shows the enthusiasm and extraordinary. This level of funding allows us to scale and innovate to solve more customer challenges and puts us in the best position to lead the category.
The launch of the enterprise browser was to deliver value to security professionals from the moment we came out of stealth. It has been exciting to see how quickly we have delivered on that goal.
The mega-raise, backed by existing investors, follows a record year of cybersecurity VC funding and suggests this trend could continue into the future. According to recent data from Momentum Cyber, the amount of venture capital raised by cybersecurity companies doubled in 2020 and outpaced the two previous years combined.
Island emerges from stealth with a new enterprise-focused web browser
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