Few tech topics are more critical these days than cybersecurity, with data breaches and ransomware attacks—and demand for cybersecurity services—on the rise. To identify the fastest-growing startups responding to today’s cyber challenges, Fortune magazine teamed with Lightspeed Venture Partners to compile the first-ever Fortune Cyber 60 2024 list—and the Dallas-based unicorn Island is one of just two Texas companies to make the new list.

With an estimated value of $1.5 billion, Island has struck a chord with its pioneering “enterprise” web browser, which offers customers enhanced security and special features boosting workforce productivity. The company says it’s sold more than 2 million of the browsers to more than 150 corporate customers, including to multiple customers in the top 20 of the Fortune 100.

Launched in 2022 by CEO Mike Fey and CTO Dan Amiga after operating in stealth mode since 2020, Island has raised $375 million from a variety of investors. Among them are Prysm Capital, Sequoia, Stripes, Cyberstarts, Georgian, Canapi Ventures, and Insight Partners.

The company says its browser, which is built on Chromium, is geared toward protecting a company’s SaaS tools from data leaks and is accessible to contractors and others in the hybrid workforce.   

Other Texas company focuses on anti-ransomware

The only other Texas company on the Cyber 60 list is Halcyon, which has headquarters in Austin as well as San Diego.

Halcyon, co-founded in 2021 by cybersecurity veterans Jon Miller, its CEO, and Ryan Smith, the CTO, focuses on creating anti-ransomware products and solutions for enterprise and mid-market customers.

The company’s platform has attracted $84 million from investors including SYN Ventures, Corner Ventures, Dell Technologies, and Bain Capital Ventures, according to TechCrunch.

Halcyon is included among 20 alphabetized “early-stage companies” in the Fortune Cyber 60, while Island is among the list’s 20 “early-growth-stage companies.” The list’s third bucket consists of 20 “growth-stage companies.”

Fortune’s inaugural list identifies the most important venture-backed startups offering enterprise-grade cybersecurity solutions that haven’t yet had an IPO, acquisition, or other significant exit, according to the magazine. It says Lightspeed Venture Partners surveyed more than 300 cybersecurity startups after reviewing market data provided by Pitchbook.

Get on the list.
Dallas Innovates, every day.

Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.