Enterprise browser startup Island simply raised a large funding spherical — one which bumps up its valuation considerably, and fewer than one yr after its final fundraise.
Dallas-based Island raised $250 million in a Sequence E spherical led by Coatue that valued the corporate at $4.85 billion, the startup introduced right now. This brings the corporate’s complete funding to $730 million. Different backers within the spherical embrace Perception Companions, Sequoia and Canapi Ventures, amongst others.
Island builds on-line browsers which are designed for enterprises and are supposed to be safer than conventional industrial search engines like google and yahoo. Additionally they have common software entry management, machine visibility and administration, and software automation, amongst different options.
This Sequence E spherical marks a notable step up for the practically five-year-old firm, which raised $175 million in a Sequence D spherical that valued the corporate at $2.9 billion simply 11 months in the past co-led by Sequoia and Coatue.
On the time, Sequoia companion Doug Leone informed TechCrunch that he was interested in the corporate proper off the bat because of Island’s staff and distinctive worth proposition.
“The 2 founders, one among whom was a technical founder out of Israel — Dan Amiga — and one who was a really senior safety government out of the U.S. — Mike Fey — had a imaginative and prescient that should you might produce a browser based mostly on Chromium that appears like an ordinary browser to the patron worker in a company however was safe, it might cease dangerous guys from doing an entire bunch of issues,” Leone informed TechCrunch on the time.
Enterprises are clearly shopping for into the mission, too, as the corporate now counts 450 prospects, amongst them Mattress Agency, Swiss Life and Fiverr.
TechCrunch reached out to Island for extra info.
