Island, an Israeli startup that created the Enterprise Browser, is now a unicorn – a company with more than a $1 billion valuation. The company raised $115 million in its Series B financing round was led by New York-based global venture capital and private equity firm Insight Partners, which gives it a $1.3 billion valuation. Island has now raised as much as $215 million in investments to date.
The news comes just two months after Island Cybersecurity first came out of stealth, revealing that it had already raised $100 million.
The news comes at the same time that fellow Israeli startup RapidAPI also hit unicorn status with a $1 billion valuation. But its valuation is nowhere near the $15 billion valuation that Rapyd, an Israeli fintech startup, hit earlier this month.
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Island was founded in September 2020 by serial entrepreneur CTO Dan Amiga, and CEO Michael Fey, who previously served as President of Symantec and Blue Coat Systems which was acquired by Symantec for $4.5 billion. Fey is also former GM and CTO of McAfee.
The Enterprise Browser, boasts Island cybersecurity, is the desktop of the future, enabling organizations to protect users and data at the very point where they interact with SaaS and internal web applications. By using the Island Enterprise Browser, security teams can fully control the last mile, from basic exfiltration protections such as copy, paste, download, upload, and screenshot capture, to more advanced security demands such as smart network routing and multi factor authentication insertion.
Fey said about Island cybersecurity that it has created a “whole new way of thinking about enterprise work. By fundamentally transforming the work environment to be secure-by-design, the Island Enterprise Browser enables organizations to achieve entirely new levels of security, productivity, and IT efficiency. The enthusiasm from our customers and the IT community has been extraordinary.”
Amiga said, “When we set out to build the Enterprise Browser, we aimed to deliver tremendous value to security professionals from day one, and it’s exciting to see that we’re already accomplishing that.”
The Island cybersecurity CTO added, “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.”