An early-stage startup building a security-themed enterprise browser has raised $115 million at a $1.3 billion valuation, becoming a cybersecurity unicorn less than two months after emerging from stealth with $100 million in funding.
The Dallas, Texas-based company, called Island, announced the Series B round with the billion-dollar valuation and backing from a slew of prominent venture capital firms.
The new investment round was led by Insight Partners, with additional funding from Sequoia Capital and Stripes. All three firms participated in Island’s Series A investment.
In February, Island introduced Enterprise Browser, a product that aims to bring together all necessary user and data protections, to provide customers with complete visibility, governance, and last-mile control.
The Chrome-based solution promises protections against data exfiltration (including data copy, transfer, and screenshot capture), along with more advanced capabilities, such as multi factor authentication insertion and smart network routing.
[ READ: 2021 Record Year for Cybersecurity M&A, Financing ]
Island claims its technology can secure critical SaaS and internal web applications, while providing safe access to enterprise resources for both contractors and BYOD workers.
The Enterprise Browser, the company says, offers safe browsing, exploit prevention, web filtering and isolation, and Zero Trust network access.
“Island 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,” said Mike Fey, Island CEO and co-founder.
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