Island, which gives enterprises the control of the browser to improve governance, visibility and productivity, has reached a $1.3bn valuation following the close of its Series B.
The round, which closed on $115m, has led by New York-based private equity firm Insight Partners. Existing Island backers Stripes and Sequoia Capital also contributed to the round.
Island launched from stealth in February. It claims to be the world’s first enterprise browser, which is designed to give organisations complete visibility and last-mile control. This gives them greater security, IT and productivity.
By using the enterprise browser, security teams can control the last mile, from basic exfiltration protections, such as copy, paste, download, upload and screenshot capture to advanced security demands, such as smart network routing and multi-factor authentication.
Island co-founder and CTO Dan 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. 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.”
With the close of the Series B, the FinTech company has raised a total of $200m.
Copyright © 2022 FinTech Global