Cisco To Invest $10 Million In Cybersecurity Company
Cisco (an American tech company) is investing a total of $10 million in a new cybersecurity startup known as 'Island'. The new startup has gained fame by introducing a new browser that will provide a secure enterprise environment for the companies.
The startup named Island has already raised around $115 million from investors. In fact, the company has already received a valuation of $1.3 billion this year, which tells us that there is something special about it!
The investment round was led by various venture capital firms and private equity firms as well. Overall, the startup managed to raise $200 million in funds in total.
Web Isolation Technology
The CEO of Island is Mike Fey, who has already worked at McAfee and Symantec (cybersecurity companies). Mike is also behind the famous web isolation technology, which vastly improved the realm of cybersecurity.
Right now, the company has around 120 employees working for it. By the end of this year, the company plans to more 50 more people for expansion.
According to the company, they already have several paying clients in various sectors such as health, technology, finance, and infrastructure.
In February 2022, Island startup launched its first ever browser made for enterprises. Considering how cybersecurity is becoming a key piece in all businesses, it was one of a kind product.
With the Island enterprise browser, organizations can enjoy last-mile control and complete visibility. It also improves security, productivity, and IT as well. But the best part of this browser is that it is built on Chromium, which means it will feel and work like the Google Chrome browser.
If this startup turns out to be a huge success, the $10 million invested by Cisco will also become a huge number. But for now, Island startup is still in its early stages, and it will be too early to make any calls about it.
Cisco has a history of investing in various startups and cybersecurity firms to expand and diversify its portfolio. Recently, Island has become one of those startups which has received Cisco investment.