Funding round
Island Series D
Island, which works in enterprise browser software development in Coppell, raised $175M in a Series D round announced on 30 Apr 2024, at a $3.00B post-money valuation. 1 firm took part, 1 of them already investors. It is Island's third venture round on record; the one before was a Series C in Oct 2023.
$175M
Amount raised
$3.00B
Post-money valuation
1
Investors
no lead named
2.0x
Step-up from the Series C
$1.50B in Oct 2023
5.8%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Island at $3.00B after the new money, 2.0 times the $1.50B of its Series C (Oct 2023). The $175M bought investors about 5.8% of the company. It came 6 months after Island's Series C. It is 17% of the $1.04B Island has raised in the venture rounds on record. Island raised again 11 months later: a Series E round of $250M in Mar 2025, at $4.80B post-money.
Island's funding rounds
Island has 5 venture rounds on record. This one is highlighted.
- Series B 23 Mar 2022, led by Insight Partners $115M$1.30B post-money
- Series C 23 Oct 2023, led by Prysm Capital $100M$1.50B post-money
- Series D this round 30 Apr 2024 $175M$3.00B post-money
- Series E 26 Mar 2025, led by Coatue $250M$4.80B post-money
- Series F 24 Sep 2026, led by Evolution Equity Partners $400M$6.40B post-money
Investors
Who put money in
1 firm took part; no lead investor was named.
Investors
- EDBI backs 67 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
99 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 1.8 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 4 Apr 2024 | $145M | not disclosed | ICONIQ Growth |
| ThreatLocker Tech Companies | 24 Apr 2024 | $115M | not disclosed | General Atlantic |
| Tech Companies | 3 Apr 2024 | $60M | not disclosed | L Catterton |
| Tech Companies | 16 May 2024 | $200M | $1.50B | Spark Capital and Avenir |
| AlayaCare Tech Companies | 22 May 2024 | $165M | not disclosed | Generation Investment Management LLP |
| Mews Tech Companies | 4 Mar 2024 | $110M | $1.20B | Kinnevik |
| Tech Companies | 28 Mar 2024 | $100M | $750M | One Peak |
| Tech Companies | 21 May 2024 | $31M | not disclosed | M&G |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Island raise in its Series D round?
Island raised $175M in its Series D round, announced in Apr 2024.
Which investors took part in Island's Series D round?
EDBI.
What was Island's valuation at the Series D round?
$3.00B post-money.
How does it compare with other Series D rounds in Tech Companies?
99 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 1.8 times the median.
Did Island raise again after this round?
Yes: a Series E round in Mar 2025 of $250M at $4.80B post-money.