Island raises $115 million Series B at $1.3 billion valuation

Israeli cybersecurity startup Island announced on Wednesday that it has raised $115 million in its Series B financing round at a $1.3 billion valuation. The round was led by New York-based global venture capital and private equity firm Insight Partners, which led Island’s prior financing round. Existing investors Stripes and Sequoia Capital also participated in this round, bringing Island’s total funds raised to over $200 million.

This round follows Island’s emergence from stealth on Feb. 1 when it introduced its Enterprise Browser. By building the core needs of the enterprise into the browser itself, the Island Enterprise Browser provides organizations with complete visibility and last-mile control, producing unprecedented improvements in security, IT, and productivity, all while delivering the same Chromium-based experience end-users expect.

Island co-founders. Photo: MKJ

Island is led by co-founder and CEO Mike Fey, previously president and COO at Symantec and GM and CTO of McAfee; and co-founder and CTO Dan Amiga, inventor of web isolation technology and previously founder and CTO of Fireglass. Amiga is a serial entrepreneur who met Fey when Symantec acquired Fireglass for $250 million. Amiga was involved in founding and investing in several other cyber startups, all involving former Fireglass staff, including Axis Security, Cycode, and Build.Security, which was acquired by Elastic in August 2021. Island’s headquarters are located in Dallas and are headed by Fey, with the R&D center being based in Tel Aviv and led by Amiga.

“When we set out to build the Enterprise Browser, we aimed to deliver tremendous value to security professionals from day one,” said Dan Amiga, co-founder and CTO of Island. "And it's exciting to see that we're already accomplishing that. But what we're noticing now is the huge opportunity to solve previously insurmountable problems not only in the security space, but across productivity and IT as well. This new funding ensures we will be able to harness even more of this amazing potential.”

“When a revolutionary product meets a real market need, it is essential to capitalize on that momentum and continue to expand the opportunity,” said Jeff Horing, co-Founder and Managing Director of Insight Partners. “Island is in a position to significantly change the industry, and this capital infusion will help drive continued leadership and innovation in the emerging Enterprise Browser category.”