Island, the company behind the Enterprise Browser, has secured $250m in a Series E funding round, propelling its valuation to $4.8bn—just five years after its founding in 2020.
The latest round was led by Coatue Management, with additional backing from several existing investors. This latest injection brings Island’s total outside funding to approximately $730m.
Island develops a Chromium-based browser designed specifically for enterprise use, embedding security, IT, and productivity tools directly into the browser experience. The product is aimed at improving the digital workspace by offering organisations secure access to applications, reducing complexity, and streamlining IT operations.
The Dallas-headquartered company officially launched from stealth in early 2022 and has since grown rapidly. It now boasts 450 customers, with its annual recurring revenue doubling each year. Island has seen adoption across Fortune 1000 firms, mid-sized businesses, government bodies, and academic institutions.
Island CEO and co-founder Mike Fey said, “The Enterprise Browser upgrades web browsers from a dedicated consumer software package to an enterprise-ready solution, adding value to knowledge workers, IT departments, and security teams. Island improves productivity, simplifies the IT stack, reduces complexity, and embeds security.
“Organizations of all sizes and industries have made Island the cornerstone of their IT modernization initiatives. The new funding will help scale our product development and talent acquisition to meet enterprises’ demanding and evolving IT needs.”
David Schneider, general partner at Coatue, said, “We’re thrilled to continue our partnership with Island as they scale their vision and bring greater security and productivity to the modern workplace.
“Island’s world-class executive team has continued to deliver a product that drives immense value for enterprise executives and end users alike. As AI adoption continues to accelerate, Island is helping establish a new industry standard. Companies of all sizes should now rely on secure environments like Island to remain competitive and protect their operations. We look forward to supporting their next stage of growth.”
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