Enterprise browser startup Island just secured a significant funding round — one that increases its valuation substantially, and less than one year after its previous fundraising effort.
Dallas-based Island received $250 million in a Series E round led by Coatue, resulting in a valuation of $4.85 billion, as announced by the startup today. This brings the total funding for the company to $730 million. Other investors in this round include Insight Partners, Sequoia, Canapi Ventures, and others.
Island specializes in developing online browsers tailored for enterprises, offering enhanced security compared to traditional search engines. Their browsers come equipped with universal application access control, device visibility and management, as well as application automation, among other features.
This Series E round represents a significant milestone for the company, founded nearly five years ago. In the previous Series D round, Island raised $175 million and was valued at $2.9 billion, with co-leadership from Sequoia and Coatue just 11 months ago.
One of the key attractions for investors, as mentioned by Sequoia partner Doug Leone, was Island’s team and unique value proposition.
The company has gained traction among enterprises, with 450 customers including names like Mattress Firm, Swiss Life, and Fiverr.
For further information, TechCrunch has reached out to Island.
