Enterprise browser startup Island simply raised a large funding spherical — one which bumps up its valuation considerably, and fewer than one 12 months after its final fundraise.
Dallas-based Island raised $250 million in a Collection E spherical led by Coatue that valued the corporate at $4.85 billion, the startup introduced in the present day. This brings the corporate’s complete funding to $730 million. Different backers within the spherical embrace Perception Companions, Sequoia, and Canapi Ventures, amongst others.
Island builds on-line browsers which can be designed for enterprises and are supposed to be safer than conventional business search engines like google and yahoo. In addition they have common utility entry management, gadget visibility and administration, and utility automation, amongst different options.
This Collection E spherical marks a notable step up for the practically 5-year-old firm. It raised $175 million in a Collection D spherical that valued the corporate at $2.9 billion simply 11 months in the past, co-led by Sequoia and Coatue.
On the time, Sequoia accomplice Doug Leone advised TechCrunch that he was drawn to the corporate proper off the bat resulting from Island’s staff and distinctive worth proposition.
“The 2 founders, one among whom was a technical founder out of Israel — Dan Amiga — and one who was a really senior safety government out of the U.S. — Mike Fey — had a imaginative and prescient that in the event you might produce a browser based mostly on Chromium that appears like a normal browser to the buyer worker in an organization however was safe, it will cease unhealthy guys from doing a complete bunch of issues,” Leone advised TechCrunch on the time.
Enterprises are clearly shopping for into the mission, too, as the corporate now counts 450 prospects, amongst them Mattress Agency, Swiss Life, and Fiverr.
TechCrunch reached out to Island for extra info.
