Cisco investing $10 million in cybersecurity startup Island | CTech
Summary
American tech conglomerate Cisco is investing in cybersecurity startup Islands extension of its Series B funding round. According to estimates of sources close to the company, Ciscos investment is in the region of $10 million.Island, which has developed a secure enterprise browser, raised a $115 million Series B at a $1.3 billion valuation in March of this year. Existing investors Stripes, Cyberstarts, and Sequoia Capital also participated in the round, bringing Islands total funds raised at the time to over $200 million.Island is led by co-founder and CEO Mike Fey, previously president and COO at Symantec and GM and CTO of McAfee; and co-founder and CTO Dan Amiga, the Israeli who invented web isolation technology and was previously founder and CTO of Fireglass. Islands headquarters are located in Dallas and are headed by Fey, with the R&D center being based in Tel Aviv and led by Amiga.Island currently employs 120 people, 70 of them in Israel. It is expected to recruit an additional 50 employees in Israel and the U.S. by the end of the year.According to Island, it already has significant paying clients in diverse sectors, including finance, insurance, health, infrastructure, and technology.Island unveiled its enterprise browser in February of this year.
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