Enterprise Browser Firm Island Valued at $1.5 Billion (Correct)

Island, a startup that provides what’s known as an enterprise internet browser, has raised $100 million in a funding round led by Prysm Capital LLC with Canapi Ventures Fund LP also participating.

The financing values Dallas-based Island at $1.5 billion, a 15% increase from its last funding round in 2022. It brings the company’s total funding to more than $325 million, according to a statement Tuesday.

Enterprise browsers are designed for use by businesses and organizations rather than individuals. Microsoft Corp. and Alphabet Inc.’s Google have their own versions with Microsoft Edge and Chrome Enterprise, respectively. Island said it ...