Dallas-based enterprise browser company Island is led by co-founder and CEO Mike Fey and co-founder and CTO Dan Amiga.A Dallas technology firm that built a secure internet browser for businesses has raised an additional $100 million from investors, pushing its valuation further up the unicorn charts to $1.5 billion.
The new investment in Island brings the company’s total funding to more than $325 million. This funding round was led by Prysm Capital and Canapi Ventures Fund, along with existing investors Insight Partners, Stripes, Sequoia, Cyberstarts and Georgian.
Island markets its browser as solving “some of the most pressing challenges customers face” by focusing on remote work, contractor access and compatibility with personal and company devices. The browser is built on Chromium, the same open-source project that powers Google Chrome. “Island is a pioneer and clear leader in what has rapidly become one of the most exciting and high-growth product segments in cybersecurity and IT in years,” said Prysm co-founder and managing partner Jay Park in a statement. “There is immense market potential across industries for innovating ways in which employees work securely and productively.”
The company plans to use the money to grow its research and development efforts and expand into other global markets, said Island co-founder and CEO Mike Fey in a statement. He was previously president at Symantec and general manager of McAfee Inc.