This browser you've never heard of is now worth a billion dollars

A startup providing an enterprise-focused web 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 Series B funding spherical that valued the corporate at $1.3 billion. Although the product was below improvement for 2 years previous to launch, Island is nonetheless among the many quickest startups to realize the milestone.

The funding spherical was led by enterprise capital agency Insight Partners, which has beforehand invested within the likes of Shopify, Qualtrics and DocuSign, all of which have multi-billion-dollar market capitalizations. Other buyers embrace 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. According to Island, typical browsers are completely unsuitable to be used in a enterprise context, regardless of their ubiquity within the skilled sphere at the moment.“The most widely deployed app in the enterprise is the browser, but it’s a consumer-based design,” Island CEO Mike Fey informed TechCrunch, when the corporate emerged from stealth.“A consumer wants to have infinite freedom; they want to be able to install anything they want, go anywhere they want, and do who knows what with their browser without any issues. The enterprise, however, wants to make sure that their customer data is safe, that their critical information is protected, and that they’re getting a good experience.”Although Island’s service is constructed on the identical Chromium engine as many widespread browsers, and subsequently has a acquainted interface, it locations a quantity of restrictions on the way in which through which finish customers can work together with the online.For instance, the Island browser provides safety groups management over easy performance equivalent to copy-and-paste, display seize and content material downloads. It additionally locations limits on the varieties of extensions that may be put in and the domains that may be visited.Separately, the service provides IT directors entry to superior instruments to assist safe SaaS functions and stop knowledge leakage, in addition to full perception into all deployments to assist determine the supply of incidents as rapidly as doable.“Island has created a whole new way of thinking about enterprise work. By fundamentally transforming the work environment to be secure-by-design, the Island Enterprise Browser enables organizations to achieve entirely new levels of security, productivity, and IT efficiency,” added Fey.

“New investment from Insight Partners and increased investment from our original funding partners validates our product-market fit, accelerates our momentum, and highlights the huge opportunity in front of us.”