This investment highlights ongoing venture capital confidence in cybersecurity, even as artificial intelligence remains a dominant industry focus. In 2024, cybersecurity startups raised $9.5bn—an almost 10% increase from the previous year, according to data from Pinpoint Search Group.
Founded in 2022, Island develops secure browsers tailored for enterprise use. The company is headquartered in both Dallas and Tel Aviv and has previously raised nearly $500m from major investors, including Sequoia Capital, Insight Partners, and Israeli VC firm Cyberstarts. Its last funding round in early 2024 valued the company at $3bn.
Island is led by CEO Mike Fey, a former McAfee executive, and CTO Dan Amiga, formerly Vice President of Engineering at Symantec Corp. Its client base includes large hotel chains, banks, retailers, and small businesses.
Neither Island nor Coatue have commented on the latest funding round.
Source: Private Equity Wire
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