Sequoia-backed enterprise browser startup Island just raised $115 million. Check out the 10-slide pitch deck it used to land its second raise of 2022.
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- Enterprise browser startup Island has raised $115 million from Insight Partners, Stripes, and Sequoia.
- The Series B round is Island’s second fundraise of the year and values the business at $1.3 billion.
- Check out the 10-slide pitch deck Island used to raise the fresh funds below.
Island, a startup that has built a web browser for enterprises that aims to be considerably more secure than consumer options like Safari and Google Chrome, has raised over $100 million for the second time in less than two months.
The Dallas-based startup came out of stealth mode in February when it raised $100 million in a round backed by tech investing giants Sequoia and Insight Partners. Now, the company has secured a further $115 million in a Series B fundraise led by Insight at a valuation of $1.3 billion.
Island’s “enterprise browser” has been in development for over two years and the company said it offers companies a level of security, visibility, and productivity that “simply weren’t possible before.” The startup said existing browsers were not built as enterprise applications and that security teams were overwhelmed by the “endless security stack” that must be deployed to keep them safe.
“From the start, we’ve been thinking about the enterprise user to give them full last-mile control of their browser across privacy, security, and productivity,” Mike Fey, Island CEO, told Insider. “Companies can decide permissions for specific data sets helping to prevent leaks from copy, paste, screenshots and more.”
In short, the company brings workplace permissions to employee browsers to prevent data privacy issues, which have become more pronounced during the advent of hybrid work.
Fey said that consumer demand for the browser had been robust since its launch on February 1, which prompted investors to push for the latest funding round.
“Our first funding was to confirm product-market fit, and now that we have that alongside strong demand, this new funding will go towards scaling the company and funding our R&D and go-to-market teams,” he said.
Island has around 120 staff split between Dallas and Tel Aviv. The company plans to grow its headcount to around 200 by the end of the year, having just opened a London office amid a push into EMEA.
The startup’s Series B round was led by Shopify-backer Insight Partners with participation from Sequoia and Stripes. The same trio of funds were involved in Island’s Series A in February but Sequoia and Stripes led the round instead. Founded in 2020, Island has raised $215 million to date.
Check out Island’s 10 slide pitch deck below: