Cybersecurity Firm Island Raises $250M, Jumps Valuation To $4.8B

Dallas-based enterprise browser developer Island raised a $250 million Series E at a $4.8 billion valuation.

The new round was led by Coatue Management, with several existing investors participating in the round, per the company.

The new valuation represents a 60% jump from last April when Island raised a $175 million Series D at a $3 billion valuation, also led by Coatue.

Island offers an enterprise browser that the company says enhances both security and productivity of workers, giving security teams control of how end users interact with work and web applications.

The company has approximately 500 employees, with more than 200 in product development and engineering, and more than 450 customers.

Big money

The deal comes just about a week after Google parent Alphabet announced its intention to buy cloud security unicorn Wiz for $32 billion — the biggest ever M&A exit for a VC-backed company.

That deal likely will stoke investor interest in cyber, which already saw venture funding increase last year compared to 2023.

Island itself is no stranger to big-money rounds. In October 2023, it raised a $100 million Series C led by Prysm Capital that valued the company at $1.5 billion. In March 2022, it announced a $115 million Series B at a $1.3 billion valuation led by Insight Partners — minting it a unicorn just seven weeks after launching.

Founded in 2020, the company has raised $810 million, per Crunchbase.