Island raises tens of millions from J.P. Morgan at $4.8B valuation
The cybersecurity company has more than quadrupled its valuation since October 2023 as demand for secure enterprise browsers grows.
American investment bank J.P. Morgan is investing tens of millions of dollars in cybersecurity startup Island, which develops a secure enterprise browser. The bank is joining Island’s latest $250 million Series E round, which values the company at $4.8 billion and was led by the American investment fund Coatue in March this year.
Full list of Israeli high-tech funding rounds in 2025
Founded by CEO Mike Fey and CTO Dan Amiga, Island has raised over $750 million to date, including a $175 million Series D in April 2024 that doubled its valuation to $3 billion, and a $100 million Series C at a $1.5 billion valuation in October 2023. Major backers include Sequoia Capital, Insight Partners, Stripes, Georgian, Cyberstarts, and Prysm Capital.
Island operates from Tel Aviv and Dallas, employing over 500 people, with around 200 at its Israeli R&D center led by Amiga. Since emerging from stealth mode in February 2022, the company has signed up 450 customers, including many Fortune 100 companies, and reports that its annual recurring revenue has more than doubled each year since launch.
Island’s founders are deeply rooted in the cybersecurity industry. Fey previously served as president and COO of Symantec and as GM and CTO of McAfee. Amiga, a serial entrepreneur, was the founder and CTO of Fireglass, which Symantec acquired for $250 million, the deal that led to his first meeting with Fey. Since then, Amiga has co-founded or invested in several other cyber startups, many involving former Fireglass staff, including Axis Security, Cycode, and Build.Security, which Elastic acquired in August 2021.
The Island Enterprise Browser is designed to give organizations advanced security, IT and network controls, data protections, and enhanced productivity features, all inside the browser experience. With Island, security teams can fully govern the “last mile” of work: from basic protections like restricting copy, paste, download, upload, and screenshots, to sophisticated safeguards like data redaction, watermarking, and enforced multi-factor authentication.
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In parallel with Island’s meteoric growth, its founders have also teamed up with Mickey Boodaei and Rakesh Loonkar, founders of Transmit Security, to launch a new cyber-focused investment fund called Picture.
“The fact that many of the world’s largest banks have already chosen Island reinforces how we are solidifying the category we created and continuing to redefine what leading organizations expect from their work environment,” said Dan Amiga, CTO and co-founder of Island.
