Island, the Dallas-based pioneer in enterprise browsers, today announced a significant boost to its financial standing and market position.
The company has successfully secured $175m in its Series D funding round, valuing it at an impressive $3bn. The round was spearheaded by new investor Coatue alongside long-standing supporter Sequoia Capital, with additional participation from other existing backers.
Island has established itself as a formidable force in the enterprise browser market, a niche it has carved out since its public debut in February 2022.
The company was formed following two years of stealth technology development by co-founders Mike Fey, the chief executive officer, and Dan Amiga, the chief technology officer. To date, Island has attracted a total of $487m in investment, driven by its unique value proposition and rapid traction in a sector poised for growth.
Island co-founder Mike Fey said, “Enterprises require advanced security and productivity features that consumer browsers were never built to deliver.
“We knew this would address critical pain points, but we’ve been thrilled at how quickly customers have adopted Island at scale – from major hotel chains and leading banks to national retailers and smaller enterprises. We’re fortunate to have these dynamic companies as our design partners, and this new funding will enable us to invest more in R&D and customer success globally.”
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
