Island Secures $250 Million as Valuation Continues to Soar to Nearly $5 Billion

DALLAS--(BUSINESS WIRE)--Mar 26, 2025--

Island, the Enterprise Browser company, announced its $250 million Series E financing round. This brings Island’s valuation to $4.8 billion in less than five years since its 2020 founding.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250326755283/en/

Coatue Management led the new funding, with several existing investors participating in the round. Island has secured approximately $730 million in outside investment to date.

“The Enterprise Browser upgrades web browsers from a dedicated consumer software package to an enterprise-ready solution, adding value to knowledge workers, IT departments, and security teams. Island improves productivity, simplifies the IT stack, reduces complexity, and embeds security,” said Mike Fey, CEO and Co-founder of Island. “Organizations of all sizes and industries have made Island the cornerstone of their IT modernization initiatives. The new funding will help scale our product development and talent acquisition to meet enterprises’ demanding and evolving IT needs.”

Island has approximately 500 employees, with more than 200 in product development and engineering. Island emerged from stealth mode in February 2022. Since that time, the company has won 450 customers, with annual recurring revenue more than doubling each year following.

“Customer collaboration has been the key to building the Enterprise Browser since day one,” said Dan Amiga, CTO and Co-founder of Island. “Creating and growing a new category requires deep technical partnerships and maximum trust between CIOs, CISOs, and product teams. Our customers’ input has been invaluable to securing their sensitive data, eliminating IT inefficiencies, and making IT work best for end users.”

Island has seen traction across every major vertical and size of organization, from Fortune 1000 enterprises to small and midmarket companies to government agencies and higher education institutions.

“We’re thrilled to continue our partnership with Island as they scale their vision and bring greater security and productivity to the modern workplace,” said David Schneider, General Partner at Coatue. “Island’s world-class executive team has continued to deliver a product that drives immense value for enterprise executives and end users alike. As AI adoption continues to accelerate, Island is helping establish a new industry standard. Companies of all sizes should now rely on secure environments like Island to remain competitive and protect their operations. We look forward to supporting their next stage of growth.”

The Island Enterprise Browser

The Island Enterprise Browser is the ideal enterprise workspace, where application delivery is simple, data is fundamentally secure, and work itself is smooth and natural. By embedding the core IT, security, and productivity needs into the browser itself, Island provides organizations with unprecedented last-mile control, enabling them to precisely govern all browser activity.

IT teams log and audit work activity while keeping personal browsing private. Security teams protect sensitive data from even the most sophisticated attacks, with a secure-by-design architecture. And users gain productivity-enhancing features while working in the familiar Chromium-based browser experience.

Leading enterprises across all industries are using the Enterprise Browser to deliver secure access to SaaS and web apps, enable zero-trust network access, make BYOD viable, onboard contractors in minutes not weeks, support smooth M&A transitions, reduce reliance on virtual desktop infrastructure (VDI), and transform how work gets done.

About Island

Island created the Enterprise Browser, a simplified enterprise workspace delighting CIOs, CISOs, and end users. Organizations in defense, financial services, government, higher education, hospitality, manufacturing, and retail modernize their security and jumpstart productivity with a browsing experience they know and love. Investors include Canapi Ventures, Capital One Ventures, Cisco Investments, Citi Ventures, Coatue Management, Cyberstarts, EDBI, Georgian, Insight Partners, Prysm Capital, Sequoia Capital, ServiceNow Ventures, and Stripes. Island is based in Dallas with research and development led from Tel Aviv. Email info@island.io or call (866) 832-7114.

Island Co-founders Dan Amiga (L) and Mike Fey (R)

WASHINGTON (AP) — U.S. forces in the Caribbean Sea have seized another sanctioned oil tanker that the Trump administration says has ties to Venezuela, part of a broader U.S. effort to take control of the South American country’s oil.

Homeland Security Secretary Kristi Noem wrote on social media that the U.S. Coast Guard had boarded the Motor Tanker Veronica early Thursday. She said the ship had previously passed through Venezuelan waters and was operating in defiance of President Donald Trump’s "established quarantine of sanctioned vessels in the Caribbean.”

U.S. Southern Command said Marines and sailors launched from the aircraft carrier USS Gerald R. Ford to take part in the operation alongside a Coast Guard tactical team, which Noem said conducted the boarding as in previous raids. The military said the ship was seized “without incident.”

Noem posted a brief video that appeared to show part of the ship’s capture. The black-and-white footage showed helicopters hovering over the deck of a merchant vessel while armed troops dropped down on the deck by rope.

The Veronica is the sixth sanctioned tanker seized by U.S. forces as part of the effort by Trump’s administration to control the production, refining and global distribution of Venezuela’s oil products and the fourth since the U.S. ouster of Venezuela President Nicolás Maduro in a surprise nighttime raid almost two weeks ago.

The Veronica last transmitted its location on Jan. 3 as being at anchor off the coast of Aruba, just north of Venezuela’s main oil terminal. According to the data it transmitted at the time, it was partially filled with crude.

The ship is currently listed as flying the flag of Guyana and is considered part of the shadow fleet that moves cargoes of oil in violation of U.S. sanctions.

According to its registration data, the ship also has been known as the Galileo, owned and managed by a company in Russia. In addition, a tanker with the same registration number previously sailed under the name Pegas and was sanctioned by the U.S. Treasury Department for moving cargoes of illicit Russian oil.

As with prior posts about such raids, Noem and the military framed the seizure as part of an effort to enforce the law. Noem argued that the multiple captures show that “there is no outrunning or escaping American justice.”

However, other officials in Trump's Republican administration have made clear that they see the actions as a way to generate cash as they seek to rebuild Venezuela’s battered oil industry and restore its economy.

Trump met with executives from oil companies last week to discuss his goal of investing $100 billion in Venezuela to repair and upgrade its oil production and distribution. His administration has said it expects to sell at least 30 million to 50 million barrels of sanctioned Venezuelan oil.

This story has been corrected to show the Veronica is the fourth, not the third, tanker seized by U.S. forces since Maduro's capture.

Homeland Security Secretary Kristi Noem speaks with reporters at the White House, Thursday, Jan. 15, 2026, in Washington. (AP Photo/Alex Brandon)

Homeland Security Secretary Kristi Noem speaks with reporters at the White House, Thursday, Jan. 15, 2026, in Washington. (AP Photo/Evan Vucci)

Homeland Security Secretary Kristi Noem speaks with reporters at the White House, Thursday, Jan. 15, 2026, in Washington. (AP Photo/Evan Vucci)

Homeland Security Secretary Kristi Noem speaks with reporters at the White House, Thursday, Jan. 15, 2026, in Washington. (AP Photo/Evan Vucci)

Homeland Security Secretary Kristi Noem speaks with reporters at the White House, Thursday, Jan. 15, 2026, in Washington. (AP Photo/Evan Vucci)

U.S. Homeland Security Secretary Kristi Noem speaks during a press conference, Thursday, Jan. 8, 2026, in New York. (AP Photo/Yuki Iwamura)

U.S. Homeland Security Secretary Kristi Noem speaks at a news conference at Harry Reid International Airport, Nov. 22, 2025, in Las Vegas. (AP Photo/Ronda Churchill, File)