J.P. Morgan, one of the largest global entities in the field of alternative investments, with over $400 billion under management, announced an investment in the Israeli company Island through its growth equity arm. The American investment bank is joining as a strategic investor in the Israeli unicorn's Series E funding round. Island, founded less than five years ago, launched this round in March, seeking to raise $250 million at a valuation of approximately $5 billion.
Island, the inventor and leader of the Enterprise Browser category, employs 200 workers at its headquarters in Tel Aviv, out of a total of 500 employees worldwide. The round was led by Coatue Management and conducted in collaboration with the company’s existing investors.
Since its founding and up to this round, the company has raised about $730 million from leading investors, including Sequoia, Insight Partners, and Gili Raanan’s Cyberstarts fund. As previously reported, Island was founded by Dan Amiga and Mike Fey, the former President of Symantec and CTO of McAfee.
According to the company: “The Island Enterprise Browser offers a work environment that significantly improves the user experience within the organization, integrating productivity, IT, and security capabilities. Some of the world’s most significant organizations use Island today—including financial institutions, airlines, hotel chains, television studios, hospitals, and retail companies.”
Dan Amiga, Island’s CTO and co-founder, stated: “The addition of J.P. Morgan—one of the world’s leading banks—to the funding round is a testament to the value we bring to organizations. The fact that many of the world’s largest banks have already chosen Island reinforces the way we’re establishing the category we created and continuing to redefine what leading organizations expect from their work environment.”
Paris Heymann, Managing Partner at J.P. Morgan Growth Equity Partners, added: “Cybersecurity is at the top of the priority list for the world’s largest organizations, and Island is exactly the kind of company we strive to support in their growth journey.”