Island, a startup that’s quite revered in local Dallas’ news, raises another $100 million, increasing its valuation to $1.5 billion on the unicorn charts.
With this latest investment, Island has raised over $325 million in total finance. Along with returning investors Insight Partners, Stripes, Sequoia, Cyberstarts, and Georgian, Prysm Capital and Canapi Ventures Fund led this fundraising round.
Chromium, the open-source project that runs Google Chrome, is the foundation for Island, a startup that focuses on remote work, contractor access, and interoperability with both company and personal devices. Island has created a browser built on this foundation. In order to stop cyberattacks and stop illegal use of company data, the browser has been updated.
In addition to limiting other browser functionalities, Island can stop users from copying sensitive data into untrusted cloud services. It also adds multifactor authentication to apps that don’t support it, acting as a modernization tool for enterprises with old web services. The money will be used by the business to increase its R&D expenditures.