Island Technology Inc., an enterprise software startup, has achieved a US$4.5 billion valuation after its latest funding round led by Coatue Management, according to sources familiar with the matter.

The company, based in Texas and Israel, specializes in secure internet browsers for businesses and launched its product in 2022.

Since its inception, Island Technology has raised nearly US$500 million from investors like Sequoia Capital, Insight Partners, and the Israeli VC firm Cyberstarts.

It was previously valued at US$3 billion in early 2024.

The company’s leadership includes CEO Mike Fey, formerly of McAfee, and CTO Dan Amiga, who previously held a position at Symantec Corp.

Island’s secure browser target enterprises, focusing on security and productivity. Its clients across various sectors, including hotel chains, banks, retailers, and small businesses.