Island, the Israeli firm behind the Enterprise Browser, a web browser designed specifically for enterprise applications, announced on Wednesday it has raised $115 million in a Series B funding 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 last month when it introduced the 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. ”