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enterprisingness web browser app startupIslandjust raised a hefty funding round — one that bumps up its valuation significantly , and less than one class after its last fundraise .
Dallas - based Island raised $ 250 million in a Series E daily round led by Coatue that valued the company at $ 4.85 billion , thestartup announced today . This take the company ’s total funding to $ 730 million . Other backer in the bout admit Insight Partners , Sequoia , and Canapi Ventures , among others .
Island builds online browsers that are designed for enterprises and are meant to be more secure than traditional commercial search engines . They also have universal software access control , equipment visibility and direction , and software automation , among other characteristic .
“ When enterprisingness practice browsers design for consumer activities , they must tally layers , bolt - on additional technology , and reenforce their substructure to meet minimum business requirements . This lead to increase complexness , rising costs , and lessen productivity , ” Island carbon monoxide gas - laminitis and CEO Mike Fey severalize TechCrunch over e-mail . “ By take over a browser app purpose - build for the enterprise , IT organization can streamline their technology rafts , importantly cut down expense , improve user entree and productivity , enhance cybersecurity , and modernize the mode oeuvre gets done . Adopting the enterprise internet browser is a rummy , simple change that transform operation for the better . ”
This Series E round marks a notable step up for the nearly 5 - class - previous companionship . Itraised $ 175 million in a Series D roundthat prize the ship’s company at $ 2.9 billion just 11 months ago , co - guide by Sequoia and Coatue .
At the sentence , redwood partner Doug Leone told TechCrunch that he was attracted to the company right off the bat due to Island ’s squad and unequaled note value proposition .
“ The two founder , one of whom was a technical founder out of Israel — Dan Amiga — and one who was a very senior security executive out of the U.S. — Fey — had a imaginativeness that if you could produce a web browser based on Chromium that look like a standard web web browser to the consumer employee in a corporation but was secure , it would terminate bad guy rope from doing a whole crowd of things , ” Leone told TechCrunch at the time .
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initiative are clearly bribe into the mission , too , as the society now counts 450 client , among them Mattress Firm , Swiss Life , and Fiverr .
This story was update on April 3 to include comment from Mike Fey .
