A startup providing an enterprise-focused net browser has surpassed a billion-dollar valuation, regardless of launching solely a matter of weeks in the past.
Island exited stealth mode in early February, however has already achieved unicorn standing courtesy of a $115 million Sequence B funding spherical that valued the corporate at $1.3 billion. Though the product was underneath growth for 2 years previous to launch, Island continues to be among the many quickest startups to attain the milestone.
The funding spherical was led by enterprise capital agency Perception Companions, which has beforehand invested within the likes of Shopify, Qualtrics and DocuSign, all of which have multi-billion-dollar market capitalizations. Different traders embody Sequoia Capital, Stripes and Cyberstarts.
Island browser
The core distinction between Island’s browser and the likes of Google Chrome or Microsoft Edge is a heightened deal with cybersecurity. In keeping with Island, typical browsers are completely unsuitable to be used in a enterprise context, regardless of their ubiquity within the skilled sphere as we speak.
“Essentially the most broadly deployed app within the enterprise is the browser, however it’s a consumer-based design,” Island CEO Mike Fey instructed TechCrunch, when the corporate emerged from stealth.
“A shopper desires to have infinite freedom; they need to have the ability to set up something they need, go wherever they need, and do who is aware of what with their browser with none points. The enterprise, nevertheless, desires to guarantee that their buyer information is secure, that their essential data is protected, and that they’re getting a great expertise.”
Though Island’s service is constructed on the identical Chromium engine as many common browsers, and due to this fact has a well-known interface, it locations a lot of restrictions on the way in which wherein finish customers can work together with the net.
For instance, the Island browser provides safety groups management over easy performance comparable to copy-and-paste, display seize and content material downloads. It additionally locations limits on the sorts of extensions that may be put in and the domains that may be visited.
Individually, the service provides IT directors entry to superior instruments to assist safe SaaS functions and forestall information leakage, in addition to full perception into all deployments to assist establish the supply of incidents as shortly as doable.
“Island has created a complete new mind-set about enterprise work. By essentially remodeling the work surroundings to be secure-by-design, the Island Enterprise Browser allows organizations to attain completely new ranges of safety, productiveness, and IT effectivity,” added Fey.
“New funding from Perception Companions and elevated funding from our unique funding companions validates our product-market match, accelerates our momentum, and highlights the massive alternative in entrance of us.”
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