-90%

est. 2Y upside i

CybersecuritySeries D+

Enterprise browser platform for secure and managed web access

Rank

#3679

Sector

Cybersecurity

Est. Liquidity

~3Y

Data Quality

Data: Medium

Island's equity offers extremely low expected upside (-89.6%) due to a 55x ARR valuation despite only 14.7% YoY growth.

Last updated: July 19, 2026

Bull (10%)+4%

Exit multiple holds at 55x from continued category leadership and a favorable IPO window, yielding $5.72B exit. After 15% dilution from a potential future raise, net upside ~4%.

Base (40%)-100%

Multiple compresses to 10x (in line with public peers) as growth stagnates, yielding $1.04B exit, below $1.14B total funding. Preference stack wipes out common equity, resulting in -100% return.

Bear (50%)-100%

Multiple compresses further to 5x due to intense competition from Google Chrome Enterprise and Microsoft Edge, yielding $520M exit; well below preference, common recovers nothing.

Est. time to liquidity~2.5 years
Adjusted for competitive dynamics: -88% (raw: -90%, adjustment: +1%)

Preference Stack Risk

high

Funding Intensity

2375%

Total funding of $1.14B represents 23.75% of $4.8B valuation, a high overhang that will significantly dilute common in any exit below ~$1.14B.

Dilution Risk

moderate

Recent Series E provides ~2-year runway, but if growth doesn't accelerate, a down-round or further bridge financing could dilute employees 15-25%.

Secondary Liquidity

moderate

A $250M secondary deal in September 2025 allowed employees to cash out, indicating some ongoing liquidity options.

View all 58 open roles at Island →

Last updated: July 3, 2026

Questions to Ask at the Interview

Strategic questions based on Island's data — designed to show you've done your homework.

  • 1

    “How do you plan to differentiate Island's offering as Chrome Enterprise and Microsoft Edge integrate more security features?”

  • 2

    “What is your strategy for expanding beyond Fortune 100 customers to mid-market, and how will that affect growth rates and unit economics?”

  • 3

    “Given the secondary market activity, what is the expected timeline for an IPO or liquidity event, and how does the company plan to handle employee equity?”

Community

Valuation Sentiment

Our model estimates -90% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.