Island is led by co-founder and CEO Mike Fey, and co-founder and CTO Dan Amiga (from press release)
Island, an Israeli startup and unicorn that created the Enterprise Browser, extended its Series B round of funding with a $60 million investment led by Georgian. The Series B round of investment began in March when the company raised $115 million led by New York-based global venture capital and private equity firm Insight Partners, which at the time made the company a unicorn with a $1.3 billion valuation. So, Island’s Series B raise now comes to $175 million.
So, at least some companies are still able to bring in the money in these tough times. The worldwide financial crisis has forced companies everywhere to make cutbacks, even Meta-Facebook. And it has been harder for startups to bring in funding. But cyber security will always be in demand.
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.
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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.
“The market adoption of our technology has been exciting, and being able to further validate our valuation, even with the headwinds facing the broader market, is an honor,” said Mike Fey, Island CEO and Co-Founder. “This most recent investment adds to our considerable war chest, and we see great opportunity to leverage it to expand our leadership position and continue to bring game-changing value to our customers. We are grateful to all of our investors for their belief in, and support of, Island, and excited to bring on another very strong partner in Georgian.”
