Island, a Dallas, Texas-based company that developed Enterprise Browser, an enterprise workspace for CIOs, CISOs, and end users, has raised $250 million in Series E, at a $5 billion valuation.
The round was led by Coatue Management with participation from existing investors.
The company intends to use the funds to expand its product development and talent acquisition efforts.
Co-founded by Dan Amiga and Mike Fey, Island created the Enterprise Browser, a simplified enterprise workspace for CIOs, CISOs, and end users. By embedding the core IT, security, and productivity needs into the browser itself, it provides organizations with last-mile control, enabling them to precisely govern all browser activity.
Enterprises are using the Enterprise Browser to deliver secure access to SaaS and web apps, enable zero-trust network access, make BYOD viable, onboard contractors in minutes not weeks, support smooth M&A transitions, reduce reliance on virtual desktop infrastructure (VDI), and transform how work gets done.
Island has approximately 500 employees, with more than 200 in product development and engineering. Island emerged from stealth mode in February 2022. The company is based in Dallas with research and development led from Tel Aviv.
Other investors included Canapi Ventures, Capital One Ventures, Cisco Investments, Citi Ventures, Coatue Management, Cyberstarts, EDBI, Georgian, Insight Partners, Prysm Capital, Sequoia Capital, ServiceNow Ventures, and Stripes. Island has secured approximately $730 million in outside investment to date.
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