Island, a cybersecurity and enterprise browser startup, announced a valuation of $4.8 billion following a recent $250 million Series E funding round. This marks a significant 60% increase in its valuation within less than a year, driven by a growing demand for enhanced security measures among businesses.

The funding round was led by Coatue Management, bringing Island's total funding to $730 million. Other notable investors include Cyberstarts, Sequoia Capital, Citi Ventures, and ServiceNow Ventures. Founded in 2022, Island aims to streamline enterprise operations by replacing multiple applications with a single, security-centric browser that integrates all necessary tools.

The surge in interest in cybersecurity is largely attributed to the increasing frequency of cyberattacks, prompting companies worldwide to allocate more resources to protect their digital assets. The disruptions caused by a significant outage at CrowdStrike last year have further motivated businesses to enhance their security budgets.

In a related trend, Google-parent Alphabet recently announced its acquisition of cybersecurity startup Wiz for $32 billion, marking its largest deal to date. According to Crunchbase, total funding for venture capital-backed cybersecurity startups reached nearly $11.6 billion last year, reflecting a 43% increase compared to 2023.

Currently, Island employs around 500 people and serves a diverse clientele, including Fortune 1000 companies, government agencies, and higher education institutions. The company last raised capital in April 2024, when it was valued at $3 billion.