Israeli-founded cybersecurity unicorn Island completed another large secondary share sale in which employees realized proceeds worth hundreds of millions of dollars, as the company continues to expand and invest in its enterprise browser product.
Israeli business outlets reported the transaction totaled roughly 250 to 300 million dollars and implied a valuation around 5 billion dollars.
“At Island we are building a significant and strong company, a long-term process we are committed to,” cofounder and CTO Dan Amiga said in a company statement. “At the same time, we want our employees to enjoy the fruits of that effort, without waiting years to see cash.
This secondary lets us keep building for the long haul while allowing our people to realize part of the value we have created.”
Founded by Amiga and Mike Fey, Island pioneered the “enterprise browser” category, combining a familiar browsing experience with built-in security, governance, and productivity controls for corporate environments.
More than 450 organizations worldwide
The company says more than 450 organizations worldwide, including Fortune 100 firms, banks, hospitals, and leading technology companies, have adopted its browser as a foundation for modern work.
The employee sale follows Island’s 250 million dollar Series E round in March, led by Coatue, which set the company’s valuation at about 4.8 billion dollars and brought total external funding to roughly 730 million dollars.
Island, which operates from Israel and Dallas, continues to hire to support global growth and product development, aiming to cement the enterprise browser as a new standard for securing data and apps at scale.
Industry analysts expect demand to rise, with Gartner forecasting that about a quarter of organizations will use secure enterprise browsers by 2028.