Island lands $250M in funding at a $4.8B valuation

Enterprise browser startup Island just raised a sizable funding round — one that bumps up its valuation significantly, and less than one year after its last fundraise. Dallas-based Island raised $250 million in a Series E round led by Coatue that valued the company at $4.85 billion, the startup announced today. This brings the company’s total funding to $730 million. Other backers in the round include 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 application access control, device visibility and management, and application automation, among other features. This Series E round marks a notable step up for the nearly five-year-old company, which raised $175 million in a Series D round that valued the company at $2.9 billion just 11 months ago co-led by Sequoia and Coatue. At the time, Sequoia partner Doug Le ... Read full article.