(Reuters) – Enterprise browser startup Island said on Wednesday it was valued at $4.8 billion after raising $250 million in a funding round led by Coatue Management.
The series E round took the Dallas, Texas-based company’s total funding to $730 million. Other investors in the company include Cyberstarts, Sequoia Capital, Citi Ventures and ServiceNow Ventures.
Island helps enterprises replace their existing suite of applications with a single, security-focused browser that comes built-in with all tools.
Interest in the cybersecurity industry has grown as the rising frequency of online attacks and hacks prompted companies to spend more on safeguarding their domains.
Disruptions caused by the global CrowdStrike outage last year have also encouraged some companies to boost their budgets on protecting digital assets.
Last week, Google-parent Alphabet announced its $32 billion acquisition of cybersecurity startup Wiz, in its biggest deal ever.
(Reporting by Ateev Bhandari in Bengaluru; Editing by Shilpi Majumdar)
