Cybersecurity
Browser Startup Island Valued at $4.5 Billion in Coatue-Led Round
Valuation jump shows VCs are still enthusiastic for cybersecurity deals.
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Enterprise software and security startup Island Technology Inc. is raising money at a $4.5 billion valuation in a round led by investment firm Coatue Management, according to people familiar with the matter.
The deal shows venture capital firms are still optimistic about cybersecurity startups, even as artificial intelligence deals capture the majority of VC attention. Last year, cyber companies raised $9.5 billion, up almost 10% from 2023, according to cybersecurity recruitment firm Pinpoint Search Group.