American tech conglomerate Cisco is investing in cybersecurity startup Island’s extension of its Collection B funding spherical. In line with estimates of sources near the corporate, Cisco’s funding is within the area of $10 million.
Island, which has developed a safe enterprise browser, raised a $115 million Collection B at a $1.3 billion valuation in March of this 12 months. The spherical was led by New York-based world enterprise capital and personal fairness agency Perception Companions, which additionally led Island’s prior financing spherical. Current buyers Stripes, Cyberstarts, and Sequoia Capital additionally participated within the spherical, bringing Island’s complete funds raised on the time to over $200 million.
Island is led by co-founder and CEO Mike Fey, beforehand president and COO at Symantec and GM and CTO of McAfee; and co-founder and CTO Dan Amiga, the Israeli who invented internet isolation expertise and was beforehand founder and CTO of Fireglass. Amiga is a serial entrepreneur who met Fey when Symantec acquired Fireglass for $250 million. Amiga was concerned in founding and investing in a number of different cyber startups, all involving former Fireglass employees, together with Axis Safety, Cycode, and Construct.Safety, which was acquired by Elastic in August 2021. Island’s headquarters are situated in Dallas and are headed by Fey, with the R&D heart being primarily based in Tel Aviv and led by Amiga.
Island presently employs 120 folks, 70 of them in Israel. It’s anticipated to recruit an extra 50 workers in Israel and the U.S. by the top of the 12 months.
In line with Island, it already has vital paying shoppers in numerous sectors, together with finance, insurance coverage, well being, infrastructure, and expertise.
Island unveiled its enterprise browser in February of this 12 months. By constructing the core wants of the enterprise into the browser itself, the Island Enterprise Browser supplies organizations with full visibility and last-mile management, producing enhancements in safety, IT, and productiveness, all whereas delivering the identical Chromium-based expertise.
Cisco has invested in 18 Israeli firms thus far, together with Gong, Habana Labs, Guardicore and Innovid. Cisco has additionally acquired 11 Israeli firms, together with three over the previous 18 months, equivalent to Epsagon for $500 million in August of final 12 months.