Cybersecurity startup Island raises $250M Series E at $4.8B valuation amid growing demand for secure enterprise browsers

Cybersecurity startup Island has raised $250 million in a Series E round, pushing its valuation to $4.8 billion—a sharp rise from just five months ago and more than 4x higher than its $1.5 billion valuation in October 2023.

The news comes just a week after Google parent Alphabet announced its $32 billion acquisition of cloud security startup Wiz, the biggest deal in the company’s history and a clear signal that cybersecurity—especially cloud and browser-based solutions—is top of mind for investors and enterprise buyers.

Island’s latest round was led by Coatue, with continued backing from Sequoia Capital, Insight Partners, Stripes, Georgian, Cyberstarts, Prysm Capital, and others. The company has now raised over $730 million in total funding. It pulled in $175 million in April 2024 at a $3 billion valuation, following a $100 million Series C in October 2023.

Island will use the fresh capital to expand product development and hire more talent to keep up with growing enterprise IT demands.

Founded in 2022 by CEO Mike Fey and CTO Dan Amiga, Island is developing what’s known as the Enterprise Browser—a secure, purpose-built browser that gives IT and security teams full control over how users interact with apps and data. From blocking screenshots to inserting multi-factor authentication, the browser is packed with controls that standard consumer browsers were never built to offer.

“The Enterprise Browser upgrades web browsers from a dedicated consumer software package to an enterprise-ready solution, adding value to knowledge workers, IT departments, and security teams. Island improves productivity, simplifies the IT stack, reduces complexity, and embeds security,” Mike Fey, CEO and Co-founder of Island said in a news release.

Dan Amiga, Island’s co-founder and CTO, leads the company’s R&D operations in Tel Aviv, where 200 of the company’s 450+ employees are based. Amiga previously founded Fireglass, a cybersecurity startup acquired by Symantec for $250 million—where he met Fey. He’s also played a part in building or investing in other security startups like Axis Security, Cycode, and Build.Security (acquired by Elastic).

Island says it now counts 450 enterprise customers, including Fortune 1000 firms, government agencies, and universities. Its annual recurring revenue has more than doubled every year since launch, according to the company.

Demand for secure browsing tools has picked up steam in recent months. After last year’s CrowdStrike outage caused widespread operational chaos, many businesses have started rethinking their endpoint security. Instead of patching traditional browsers with third-party tools, Island offers a single environment where everything—security, data control, and application access—is built in.

Fey says the new capital will help the company grow its product development and bring on more talent to meet rising demand. “Organizations of all sizes and industries have made Island the cornerstone of their IT modernization initiatives,” he said.

Amiga added that customer input has shaped the product from day one. “Building a new category like the Enterprise Browser takes more than just technology—it demands deep partnerships and trust,” he said. “Our collaboration with customers helped us design a solution that balances security, efficiency, and a smooth user experience that’s never been seen in the enterprise world.”