Secure Browser Provider Island Raises $100 Million, Now Valued at $1.5 Billion

Island partners can expect continued maturing of its solution set and ability to execute.

Edward Gately, Senior News Editor

October 23, 2023

2 Min Read
Ryan DeBerardinis/Shutterstock

Island, the secure browser provider, has raised $100 million in its Series C financing round, bringing the company's value to $1.5 billion.

Prysm Capital led the funding round, joined by Canapi Ventures, as well as Island’s current funding partners Insight Partners, Stripes, Sequoia, Cyberstarts and Georgian. This latest funding round brings Island’s total outside investment to over $325 million.

Mike Fey, Island's CEO and co-founder, said partners will benefit from a continually expanding solution set that addresses more and more use cases.

"Partners play a vital role in helping us penetrate geographies and market segments," he said.

To date, Island has sold more than 2 million browsers to customers in all major verticals and segments, and has multiple customers ranking in the top 20 of the Fortune 100. The Island Enterprise Browser is solving customer challenges, including securing BYOD, work-from-anywhere patterns and contractor access. Beyond security, Island is also helping customers boost workforce productivity and improve user experience, enabled by a solution set that spans all devices, operating systems and application types.

New Opportunities for Secure Browser Provider's Partners

"Partners will benefit [from the new funding] because Island will deploy some of this capital to expand its product lead of the rest of the market, and penetrate new markets, creating opportunity," Fey said.

This capital infusion will accelerate Island's ability to scale globally and continue to aggressively invest in R&D, customer success and geographic expansion to cover the major global buying centers, he said.

"We are incredibly proud and humbled by our success to date and look forward to driving growth together with our new partners," Fey said.

During the months ahead, Island partners can expect continued maturing of its solution set and ability to execute, he said.

“Island is a pioneer and clear leader in what has rapidly become one of the most exciting and high-growth product segments in cybersecurity and IT in years,” said Jay Park, Prysm Capital's co-founder and managing partner. “There is immense market potential across industries for innovating ways in which employees work securely and productively. Island has demonstrated both product superiority and success in establishing and expanding solutions for many of the largest companies in the world. We could not be more thrilled to be supporting their journey.”

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About the Author(s)

Edward Gately

Senior News Editor, Channel Futures

As news editor, Edward Gately covers cybersecurity, new channel programs and program changes, M&A and other IT channel trends. Prior to Informa, he spent 26 years as a newspaper journalist in Texas, Louisiana and Arizona.

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