Enterprise browser startup Island simply raised a large funding spherical — one which bumps up its valuation considerably, and fewer than one yr after its final fundraise.
Dallas-based Island raised $250 million in a Collection E spherical led by Coatue that valued the corporate at $4.85 billion, the startup announced today. This brings the corporate’s complete funding to $730 million. Different backers within the spherical embrace Perception Companions, Sequoia and Canapi Ventures, amongst others.
Island builds on-line browsers which can be designed for enterprises and are supposed to be safer than conventional industrial search engines like google and yahoo. In addition they have common software entry management, gadget visibility and administration, and software automation, amongst different options.
This Collection E spherical marks a notable step up for the almost five-year-old firm, which raised $175 million in a Collection D spherical that valued the corporate at $2.9 billion simply 11 months in the past co-led by Sequoia and Coatue.
On the time, Sequoia companion Doug Leone advised TechCrunch that he was drawn to the corporate proper off the bat attributable to Island’s workforce and distinctive worth proposition.
“The 2 founders, one in all whom was a technical founder out of Israel — Dan Amiga — and one who was a really senior safety government out of the U.S. — Mike Fey — had a imaginative and prescient that if you happen to might produce a browser based mostly on Chromium that appears like an ordinary browser to the patron worker in a company however was safe, it might cease dangerous guys from doing an entire bunch of issues,” Leone advised TechCrunch on the time.
Enterprises are clearly shopping for into the mission, too, as the corporate now counts 450 clients, amongst them Mattress Agency, Swiss Life and Fiverr.
TechCrunch reached out to Island for extra data.