(Bloomberg) – Enterprise Software and Security Startup Island Technology Inc. collects funds for an evaluation of $ 4.5 billion in a round led by the investment company Cotoue Management, according to people familiar with the problem.
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The agreement shows that venture capital companies are still optimistic about cybersecurity startups, even if artificial intelligence transactions capture the majority of VC’s attention. Last year, cyber-enterprises raised $ 9.5 billion, up almost 10% compared to 2023, according to the cybersecurity recruitment company, Pinpoint Search Group.
The representatives of the island and the coastal did not comment on the agreement.
Island, who has offices in Dallas and Tel Aviv, manufactures secure internet browsers for businesses. The product was launched in 2022. The company previously raised nearly $ 500 million from investors including Sequoia Capital, Insight Partners and the Israeli VC company Cyberstarts. He collected funds last time at the start of 2024 at an evaluation of $ 3 billion.
The startup is led by the CEO Mike Fey, former executive of McAfee, and the director of technology Dan Amiga, the former vice-president of engineering at Symantec Corp.
Island offers security and productivity features within its browser that are suitable for businesses. Its customers include hotel channels, banks, retailers and small businesses.
(Update of the list of investors in the fourth paragraph.)
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