Enterprise Browser Island Receives Capital at $3 Billion Value [BNN Bloomberg (Canada)]
Palo Alto Networks, Inc. (PANW)
Last palo alto networks, inc. earnings: 2/24 04:15 pm
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Source: BNN Bloomberg
The $175 million funding was led by existing investor Sequoia Capital and new investor Coatue. It doubles the $1.5 billion valuation the company attained in a financing last year. At a time when only a few non-AI focused companies are able to raise significant funding, Island attracted investment because of its early traction. Doug Leone, a partner at Sequoia, said in an interview that Island solves some of the security problems that companies are facing as they shift to cloud and have more employees work remotely. “As technology changes, new issues arrive,” he said, adding that Island addresses emerging challenges for businesses related to VPNs and data-loss prevention. Leone expects that Island will eventually go public, unlike Talon Cyber Security, a smaller competitor that was acquired by Palo Alto Networks last year. “We think this company could IPO and beyond,” he said. Michael Fey, Island's co-founder and chief executive officer, said that the new capital will be used
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PANW
Earnings
- 5/20/24 - Beat
PANW
Sec Filings
- 5/20/24 - Form 8-K
- 5/16/24 - Form 8-K
- 5/8/24 - Form 4
- PANW's page on the SEC website