J.P. Morgan Growth Equity Partners has taken a strategic stake in Island, the Israeli-US company behind the “enterprise browser,” becoming the latest blue-chip backer in the start-up’s $250 million Series E financing at a valuation of roughly $5 billion, Island said on Monday. The investment, made through J.P. Morgan’s $1 billion growth fund, follows the March round led by Coatue Management and brings Island’s total capital raised to about $730 million. Other investors include Sequoia Capital, Insight Partners, and Cyberstarts. “Cybersecurity is at the top of the priority list for the world’s largest organizations, and Island is exactly the type of company we aim to support,” Paris Heymann, co-managing partner at J.P. Morgan Growth Equity Partners, said in the release. The arrival of the Wall Street bank “is testimony to the value we bring,” added Island co-founder and CTO Dan Amiga, noting that “many of the world’s largest banks have already chosen Island.” Launched from stealth only in February 2022, Island says its secure browser now runs at more than 450 enterprises, including eight of the 10 largest US banks. The software lets corporate IT teams bake security controls, data-loss prevention and productivity tools directly into the browser layer, making remote work and bring-your-own-device policies easier to police. The company employs roughly 500 people—about 200 of whom are based at its R&D hub in Tel Aviv—and is co-headquartered in Dallas. The company was founded in 2020 by Amiga, a former Unit 8200 officer and serial entrepreneur, and CEO Mike Fey, the onetime president of Symantec and CTO of McAfee. For Island, the J.P. Morgan check delivers both fresh capital and a marquee customer reference in the financial services sector—a vertical that has accounted for the company’s earliest adopters and remains its fastest-growing segment. Heymann’s fund has been making late-stage bets on enterprise software and cybersecurity since its launch last year; its move on Island “underscores how critical browser-level security has become to regulated industries,” the company said. With the new money, Island plans to accelerate hiring in engineering and go-to-market roles, expand its Dallas and Tel Aviv sites, and double down on product integrations aimed at large financial institutions.