Cyber ​​Startup Island Reaches Unicorn Status 7 Weeks After Launch

Earlier this year, we talked about how unicorns had been hit after initial funding at an unprecedented rate in 2021 and wondered if it could continue.

While that seems unlikely with the funding downturn, that doesn’t mean there won’t be young unicorns – and Dallas-based Isle may be all alone in the time it took to reach that status.

The company raised a Series B of $115 million at a valuation of $1.3 billion. The new round was led by Insight Partnerswith the participation of existing investors Grooves and Capital Sequoia. The company had just announced a $100 million Series A at the same time it was sneaking out on February 1.

Island offers an enterprise browser that the company claims improves both worker safety and productivity, by giving security teams control of what is often referred to as the “last mile.” that is, how end users interact with business and web applications.

Getting a quick assessment has advantages and disadvantages. While this can improve a company’s reputation, it can be difficult to achieve and grow in this rating. This can lead to downturns and even tensions within the business, which can create an atmosphere where it begins to chase revenue numbers, sometimes hampering growth and innovation.

However, Island plays in cybersecurity, a sector where it seems investors can never invest enough. After a banner year last year, cyber seems to be off to a good start in 2022.

Island isn’t alone in the safe space as the unicorn of 2022 either. A handful have been newly minted already this year, including eSenti, Beyond Security, Salt Safety, Aleo, To verify and SparkCognition.

Drawing: Dom Guzman