Dallas-based tech unicorn Island has announced a $175 million Series D financing round, bringing its valuation to $3 billion—doubling the valuation it got from a $100 million Series C just six months ago.

Island, a pioneering category leader in enterprise browsers, said its Series D round was led by new investor Coatue and existing investor Sequoia Capital, with additional funding from other existing investors.

“Enterprises require advanced security and productivity features that consumer browsers were never built to deliver,” Co-Founder and CEO Mike Fey said in a statement. “We knew this would address critical pain points, but we’ve been thrilled at how quickly customers have adopted Island at scale—from major hotel chains and leading banks to national retailers and smaller enterprises. We’re fortunate to have these dynamic companies as our design partners, and this new funding will enable us to invest more in R&D and customer success globally.”

Last October, we reported on Island’s $100 million Series C financing round, which boosted the company’s valuation at the time to $1.5 billion. Island said that round was led by Prysm Capital and joined by Canapi Ventures, as well as Island’s current funding partners Insight Partners, Stripes, Sequoia, Cyberstarts, and Georgian.

Island has raised $487 million in outside investment to date, including a strategic investment from Capital One Ventures, based on its unique value proposition and category momentum in the fast-growing enterprise browser market, the company said.

Enterprise browser pioneer

Island pioneered the enterprise browser category with its product launch in February 2022, emerging from stealth after two years of technology development, led by Fey and Co-Founder and Chief Technology Officer Dan Amiga. Island has since gained “significant traction with large and small enterprises across all major industries,” including several Fortune 100 customers.

The company said its Island Enterprise Browser reimagines how work can be managed in the enterprise, where everything the enterprise needs—advanced security, IT and network controls, data protections, application access and advanced productivity features—is naturally embedded into the browsing experience users expect.

Island said the benefits are significant for business leaders, IT security leaders and end users alike—providing secure access and enhanced productivity via any device, any location and any network, while significantly reducing software and operational costs.

According to Island, in a recent report on the category Gartner predicted: “By 2030, enterprise browsers will be the core platform for delivering workforce productivity and security software on managed and unmanaged devices for a seamless hybrid work experience.”

The desktop of the future

David Schneider, general partner at Coatue, lauded Island’s browser.

“We believe Island has built a product that meets the needs of CIOs, CISOs and end users all at the same time—and has delivered tremendous ROI across multiple verticals,” Schneider said in a statement. “Island’s continued customer traction demonstrates that the team has potential to execute, grow and innovate at scale. Coatue is excited to join Island on their journey as they seek to redefine the enterprise browser.”

Sequoia Partner Doug Leone said Island is now “an established leader in one of the most exciting new categories in cybersecurity and enterprise software. Since partnering at the Series A, we’ve seen first-hand how Island delivers value and empowers customers, working collaboratively with them to drive adoption and spur innovation across multiple use cases.”

Island calls its Enterprise Browser “the desktop of the future,” enabling organizations to protect users and data, reducing friction where they interact with SaaS and internal web applications.

By using its browser, the company said that security teams “fully control the last mile,” from basic protections such as copy, paste, download, upload, and screenshot capture, to more advanced security demands such as data redaction, watermarking, and multifactor authentication insertion.

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