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Fortune magazine and Lightspeed Venture Partners have collaborated to compile the first-ever Fortune Cyber 60 2024 list, which identifies the fastest-growing startups in the cybersecurity field. Dallas-based unicorn Island is one of just two Texas companies to make the list. Island has an estimated value of $1.5 billion and has gained success with its pioneering enterprise web browser, which offers enhanced security and special features to boost workforce productivity.
Island has sold over 2 million browsers to more than 150 corporate customers, including multiple Fortune 100 clients. It has raised $375 million from various investors, including Sequoia, Prysm Capital, Cyberstarts, Georgian, Canapi Ventures, and Insight Partners. Island’s browser is built on Chromium and is designed to protect a company’s SaaS tools from data leaks, making it accessible to contractors and others in a hybrid workforce.
The only other Texas company on the Fortune Cyber 60 list is Halcyon, which focuses on creating anti-ransomware products and solutions for enterprise and mid-market customers. Halcyon has attracted $84 million from investors, including SYN Ventures, Corner Ventures, Dell Technologies, and Bain Capital Ventures.
The Fortune Cyber 60 list is divided into three categories: early-stage companies, early-growth-stage companies, and growth-stage companies. Island is listed among the early-growth-stage companies, while Halcyon is listed among the early-stage companies.
The list aims to identify the most important venture-backed startups in the cybersecurity field that have not yet had an IPO, acquisition, or other significant exit. Lightspeed Venture Partners surveyed over 300 cybersecurity startups and reviewed market data provided by Pitchbook to compile the list.
