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Island, a leader in the enterprise browser market, has secured $100 million in its Series C financing round, elevating its valuation to $1.5 billion. The funding was led by Prysm Capital, with participation from Canapi Ventures and other existing partners. This achievement underscores Island’s significant growth and its impactful role in enhancing cybersecurity and workforce productivity.
A New Milestone for Island
On October 23, 2023, Island, a trailblazer in the enterprise browser market, proudly announced a significant achievement: securing $100 million in their Series C financing round. This impressive feat has propelled Island’s valuation to an astounding $1.5 billion.
Who’s Backing Island?
The funding round was spearheaded by Prysm Capital, with notable participation from Canapi Ventures. Island’s existing partners, including giants like Insight Partners, Stripes, Sequoia, Cyberstarts, and Georgian, also joined the round. With this latest injection of funds, Island’s external investment has surpassed the $325 million mark.
Why Island Stands Out
Island isn’t just another tech company. They’ve showcased remarkable growth, underlined by a strong product-market fit and unmatched go-to-market expertise. Their achievements include selling over 2 million browsers across various industries and boasting multiple clients within the Fortune 100’s top 20. The Island Enterprise Browser addresses pressing challenges, such as securing BYOD, facilitating work-from-anywhere patterns, and ensuring contractor access. But it’s not just about security; Island also enhances workforce productivity and user experience across all devices and operating systems.
Industry Insights
Gartner, a renowned name in the industry, highlighted the growing importance of enterprise browsers. Their recent report emphasized that these browsers would soon become the central platform for most enterprise productivity and security software.
What the Experts Say
Jay Park, Co-Founder & Managing Partner at Prysm Capital, expressed immense confidence in Island’s potential, praising its leadership in the cybersecurity and IT sectors. Neil Underwood, Co-Founder and General Partner at Canapi Ventures, emphasized the rapid adoption of the Island Enterprise Browser in the financial sector, lauding its unparalleled security and productivity features.
A Word from Island’s Leadership
Mike Fey, Island’s CEO and Co-Founder, expressed gratitude to both new and existing investors for their trust. He emphasized that the new funds would bolster their global scaling efforts, R&D, customer success, and geographic expansion.
The Future of Browsing: The Enterprise Browser
Island’s Enterprise Browser is revolutionizing the way organizations interact with SaaS and internal web applications. It offers unmatched control over security features, from basic protections to advanced demands like smart network routing and multi-factor authentication. This innovation promises a brighter future for enterprise use cases, ensuring data protection, safe access, and full governance.
Island, headquartered in Dallas with R&D in Tel Aviv, is the forerunner in the enterprise browser market. Their browser ensures a seamless work environment while prioritizing security. With backing from leading venture funds, Island is shaping the future of work for some of the world’s most esteemed enterprises.
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