ISIsland Financial Model
Enterprise/Security Startup Financials (Free Excel Download)
Island builds an enterprise browser - a Chromium-based browser purpose-built for corporate IT/security control of web and SaaS access.
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About this model
Island builds an enterprise browser based on Chromium and designed for corporate IT and security control of web and SaaS access. The product treats the browser as a managed security layer, giving organisations more direct control over how employees interact with business applications online.
The company sells to enterprise IT and security buyers on annual contracts. Its natural unit of value is the employee seat covered by the browser, with scope for expansion as a customer rolls the product out from an initial team to a wider workforce.
The model uses a per-seat enterprise ARR build with new logos, initial deployment size, rollout timing, expansion, and renewals. It ties sales capacity, deal cycles, product and support delivery costs, gross margin, security R&D, and operating expense to the cash runway.
A turnkey financial model
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
About Island
getisland.com
How to build a detailed financial model for Island
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Island model - distilled from its pitch deck and publicly available information.
Product & value proposition
Island is a Chromium-based browser rebuilt for enterprises. It replaces the consumer browser (Chrome/Edge/Safari) as the primary enterprise access tool, eliminating the need for surrounding control infrastructure (VDI, proxies, SWGs, DLP agents, PAC files, SSL MITM).
Key capabilities:
- Last-mile controls: cut/copy/paste restrictions, screen capture, print/save, download/upload controls, automation scripts
- Auditing, logging & forensics
- Device posture assessment and enforcement
- Integrated authentication
- Agile network routing
- Secure storage
- Security tool integration
- Management & policy engine
Key use-cases:
- Critical SaaS & Web App access (Salesforce, ServiceNow, Workday, O365)
- Contractor / BYOD access (replaces MDM)
- M&A / JV / divestiture integration
- VDI reduction
- Privileged admin access
- Zero-Trust access completion
- Safe browsing / native browser isolation
- Regulatory & legal compliance
Competition / moat
Moat articulated qualitatively:
- Replacing entire category of bolt-on security tools (VDI, SWG, proxies, EDR, DNS filtering, endpoint agents) with a single native browser
- Built on Chromium - same rendering engine as Chrome/Edge, so end-user experience is unchanged
- "Last-mile" control at the application layer rather than network layer
- Deep integration into enterprise identity, device posture, and security stack
Competitors not named in deck. Implied competition: consumer browsers (Chrome, Edge, Safari), VDI vendors (Citrix, VMware Horizon), SWG/SASE vendors (Zscaler, Netskope), CASB solutions.
Team & funding ask / use of funds
Team:
- Mike Fey - CEO & Co-Founder
- Dan Amiga - CTO & Co-Founder
- Brian Kenyon - Chief Strategy Officer
- Ellen Roeckl - Chief Marketing Officer
- Daniel Kandel - VP R&D
- Jennifer Park - Chief People Officer
- Bradon Rogers - Head of Presales, Customer Success & Product Marketing
- Eric Appel - Head of Sales
Board / Investors:
- Gili Raanan (Cyberstarts - Founder & General Partner)
- Doug Leone (Sequoia - Global Managing Partner)
- Jeff Horing (Insight Partners - Managing Director)
- Ken Fox (Stripes - Managing Director)
Recommended financial model
- Archetype + why: Enterprise SaaS ARR model with per-seat subscription. Island sells to enterprise IT/security buyers on annual contracts; the natural unit is seats (employees covered by the browser). This is a direct ARR/ARR-expansion model analogous to other endpoint security SaaS companies (CrowdStrike, SentinelOne). No marketplace or usage-based dynamic visible in deck.
- Forecast horizon & granularity: 5 years (Year 1–5), quarterly in Years 1–2, annual in Years 3–5. Early-stage company with no disclosed revenue - quarterly granularity in near term is needed to model the ramp.
- Key drivers & assumptions:
| Driver | Value | Source |
|---|---|---|
| Starting year | 2022 (likely first commercial year) | - |
| Target customer segment | Enterprise (500–50,000 seats) | - |
| Average contract size (ACV) | $50–$150 per seat/year | - |
| Average deal size (seats) | 2,000–10,000 seats | - |
| Initial customer count (Y1) | 10–25 customers | - |
| YoY new logo growth | 100–150% in Y1–Y2, decelerating to 50% by Y5 | - |
| Net Revenue Retention (NRR) | 120% | - |
| Gross margin | 75–80% | - |
| S&M as % of revenue | 50–60% (Y1–Y2), declining to 35% by Y5 | - |
| R&D as % of revenue | 30–35% | - |
| G&A as % of revenue | 10–15% | - |
| CAC payback period | 18–24 months | - |
- Scenarios (Base / Bull / Bear - which variables flex):
- Bull: Faster enterprise adoption (VDI displacement accelerates), ACV at high end ($150/seat), NRR 130%+, S&M efficiency improves early.
- Base: Steady logo growth 100% Y1–Y2 → 50% Y4–Y5, ACV $100/seat, NRR 120%, gross margin 78%.
- Bear: Long enterprise sales cycles (9–12 months), ACV pressure from bundled SASE/SSE vendors, NRR 110%, gross margin 72% (heavier cloud costs).
- Flex variables: New logo count, ACV per seat, NRR, CAC payback, S&M spend.
- Required sheets / outputs:
- Assumptions - all driver inputs, scenario toggle
- ARR Bridge - new ARR, expansion ARR, churn ARR, ending ARR by quarter/year
- Income Statement - revenue, COGS, gross profit, S&M, R&D, G&A, EBITDA, net income
- Unit Economics - CAC, LTV, LTV:CAC, CAC payback, gross margin per cohort
- Headcount - sales, R&D, G&A headcount plan tied to revenue ramp
- Cash Flow / Runway - operating cash flow, funding assumption, cash balance
- KPI Dashboard - ARR, ARR growth %, NRR, logo count, gross margin %, Rule of 40
Frequently asked
Is the Island financial model free?+
Yes. The Island model is a free Excel (.xlsx) download with live formulas. Sign up with your email and the workbook is yours to keep, review, and edit.
What's included in the model?+
A 5-year monthly forecast with P&L, cash flow and runway, valuation (exit multiple plus a DCF cross-check), MOIC/IRR returns, and unit economics, with live formulas throughout.
How was this model built?+
It was built from Island's pitch deck and publicly available information, then structured to investment-banking standards as a fully editable Excel model.
Can I change the assumptions?+
Yes. You can change assumptions and the live formulas will recalculate in the downloadable Excel model.
Have more financial modelling questions? Contact us
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