Island Secures $115 Million in New Funding

Island, which provides a secure enterprise browser, has raised $115 million in its Series B financing round at a $1.3 billion valuation.

The round was led by Insight Partners, which led Island’s prior financing round. Existing investors Stripes and Sequoia Capital also participated in this round, bringing Island’s total funds raised to over $200 million.

This round follows Island’s emergence from stealth on Feb. 1. Its partners include VARs, MSPs and MSSPs.

Its browser enables organizations to protect users and data at the point where they interact with SaaS and internal web applications. By using the browser, security teams can control the last mile, from basic exfiltration protections such as copy, paste, download, upload and screenshot capture, to more advanced security demands such as smart network routing and MFA insertion.

Mike Fey is Island’s CEO and co-founder.

“With this new funding, we’re able to innovate to solve a host of previously unsolvable problems that extend beyond the security space into the realms of productivity and IT, which will ultimately benefit our partners,” he said. “The Series B funding will enable Island to scale the company, and fund both its R&D and GTM teams to ensure customer success. This includes both direct sales and channel teams.”

Channel partners will play a critical role in Island’s growth and expansion, both in North America and EMEA, Fey said.

“Island is seeing strong interest from partners who are looking for opportunities to bring the enterprise browser into their existing accounts,” he said. “As a result of demand, Island plans to hire four or five dedicated channel personnel in the eastern United States, western United States and EMEA, with a channel manager overseeing geographic-specific personnel.”