Island employees pocket over $250 million in cyber unicorn's secondary deal
Market sources claim that the amount ranges between $250 million and $300 million, based on a company valuation of around $5 billion.
Enterprise browser startup Island has completed a significant secondary transaction, allowing employees to realize hundreds of millions of dollars in profits. Market sources claim that the amount ranges between $250 million and $300 million, based on a company valuation of around $5 billion. The majority of investors are existing ones, with several new participants.
Founded in 2019 by Dan Amiga, a serial cybersecurity entrepreneur, and Mike Fey, former president and COO of Symantec and former GM/CTO of McAfee, Island has quickly established itself in the enterprise browser market. The company now employs over 500 people across its Tel Aviv R&D center and a Dallas office, with more than 250 staff in Israel alone.
Island’s Enterprise Browser, adopted by over 450 organizations including Fortune 100 companies, financial institutions, hospitals, and leading tech firms, combines an intuitive browser experience with advanced security, IT and network controls, and data protections. Features range from restricting copy/paste, download/upload, and screenshots to safeguards such as data redaction, watermarking, and enforced multi-factor authentication.
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The recent secondary transaction allows employees to realize substantial profits while the company continues building long-term value. “At Island, we are building a strong and meaningful company. This is a process that takes time, and we are committed to it,” said CTO Dan Amiga. “At the same time, it is important to us that our people enjoy the fruits of their work and do not have to wait many years to realize value. The current secondary transaction allows exactly that – to continue building the company for the long term, while at the same time enabling our people to realize part of the value we have created.”
Island raised tens of millions of dollars from J.P. Morgan two months ago at a valuation of $4.8 billion. The cybersecurity company has more than quadrupled its valuation since October 2023.
