Island Technology Inc., the developer of a secure Chromium-based browser for the enterprise, today announced that it has raised $250 million in a late-stage financing led by Coatue Management, bringing its valuation to $4.8 billion.

The startup raised $175 million in its previous funding round in April 2024 at a $3 billion valuation. Including this Series E round, the company has secured approximately $730 million in external funding from investors such as Sequoia Capital, Insight Partners and Gili Raanan’s Cyberstarts.

Island provides enterprise clients with a higher internet browsing security profile while letting browser users keep a familiar experience at the interface. It does this by building its security capabilities directly into its web browser without additional plugins or extra software, which gives command and control to information technology administrators and security teams.

Island launched the Enterprise Browser in 2022. It embeds all of its security models and requirements directly into the browser itself. By supporting numerous security tools, including safe browsing, web filtering, web isolation, exploit prevention, smart network routing and zero-trust access, IT teams can trust users won’t become targets for hackers or run into trouble. Administrators can also control local and remote access to data that passes through the browser to prevent leaks of proprietary information.

“The Enterprise Browser upgrades web browsers from a dedicated consumer software package to an enterprise-ready solution, adding value to knowledge workers, information technology departments and security teams,” said co-founder and Chief Executive Mike Fey. “Island improves productivity, simplifies the IT stack, reduces complexity and embeds security.”

Since launch, Island has grown to 500 employees, with more than 200 dedicated to product development and engineering.

Although the company does not reveal customer names, Island said its work securing the browser experience has won the startup more than 450 customers across every industry vertical and size, including Fortune 1000 companies, government agencies and higher educational institutions.

“Customer collaboration has been the key to building the Enterprise Browser since day one,” said co-founder and Chief Technology Officer Dan Amiga. “Our customers’ input has been invaluable to securing their sensitive data, eliminating IT inefficiencies and making IT work best for end users.”

Image: Island