Saturday, December 3, 2022 Dec 3, 2022
47° F Dallas, TX
Business Briefs

Island Brings in Additional $60 Million of Series B Funding

Plus: CBRE makes $110 million acquisition; Commercial real estate firm Partners opens a Dallas office; and more.
By |
Image
MKJ PHOTOGRAPHY

Dallas-based cybersecurity firm Island, which has developed the world’s first enterprise browser, gained $60 million in additional Series B funding, led by Georgian, a Toronto-based private equity firm. The latest round brings Island’s total funds raised to approximately $270 million.

In March of 2022, Island earned a $1.3 billion valuation after surfacing from stealth mode just one month prior.

“Our technology is something investors always wonder why it took so long for someone to do,” CEO and co-founder Mike Fey told D CEO. “We created an opportunity where it was obvious that if we were successful, the company we were going to build would be very large.”

Island’s Enterprise Browser gives corporations protection around users and data when they interact with SaaS and internal web applications. Its clients range from Fortune 100 companies to 500-person operations in industries that span from pharmaceutical tech companies to retail. 

“This year is about mega growth for us,” Fey says. “We’re growing  revenue by 10x and if we keep going down our path, we will build one of the biggest tech firms in Dallas.”   

CBRE Acquires Full Spectrum Group for $110 Million

Dallas-based commercial real estate giant CBRE has acquired Full Spectrum Group, a provider of technical support services for laboratory systems in the United States. The transaction closed at $110 million.

Through the acquisition, CBRE has gained a new technical capability, which compliments their existing offerings for occupier clients in the growing research and laboratory equipment sector.

The California-based Full Spectrum Group has more than 150 employees who will integrate into CBRE’s global force of 105,000 employees.

“Full Spectrum’s highly specialized capabilities and coverage in the key U.S. life sciences hubs further differentiates our Integrated Laboratory Solutions and positions CBRE to self-deliver an impressive range of scientific laboratory maintenance and repair services,” John Dunstan, CEO of the GWS/Enterprise at CBRE, said in a company statement. “This acquisition is consistent with our strategy to deliver reliable, sustainable, operationally excellent, and cost-efficient technical service offerings.”

Partners Opens Fourth Texas Office, First in Dallas

Image
1717 McKinney Ave Partners

NAI Partners has rebranded as Partners and opened an office in Dallas at 1717 McKinney Ave. This location is the company’s fourth, joining its Houston, Austin, and San Antonio offices. Partners is now the largest commercial real estate firm that exclusively serves Texas’ four major markets.

“Our Texas roots run deep,” Jon Silberman, managing partner of Partners, said. “We are excited to offer our distinctive mix of commercial real estate services and investments to the Dallas-Fort Worth region. We look forward to cementing deep, long-lasting relationships with every client we partner with in DFW.”

Partners—which employs more than 200 real estate professionals and completes over 1,000 commercial lease and sale transactions every year—specializes in office, industrial, retail, land, life sciences, and multifamily. Looking ahead, Partners plans to explore offices in Georgia, Tennessee, North Carolina, Colorado, and Arizona.

Bank of America Invests $900,000 in DFW Nonprofits

Bank of America is investing nearly $900,000 to support DFW nonprofits focused on affordable housing, community revitalization, small business, and the arts.

“Dallas nonprofits dedicate their time and energy to solve the complex societal challenges, build up our neighbors in need, and promote economic advancement,” Jennifer Chandler, Bank of America Dallas president, said. “Philanthropic investments like these are just one way we deploy capital in the Dallas community to help drive economic opportunity and strengthen our community overall.”

The nonprofits that will benefit from the funds are:

  • 6 Stones Mission Network
  • Accelerated Foundation
  • Boys & Girls Club of Collin County
  • Bonton Farms
  • Casa Mañana
  • Community Enrichment Center
  • Community Frontline of Fort Worth
  • Dallas Area Habitat for Humanity
  • Dallas Symphony Association
  • Denton Habitat for Humanity
  • Forest Forward
  • Fort Worth Symphony Orchestra Association
  • Impact Ventures Accelerator
  • Junior Achievement of the Chisholm Trail
  • On the Road Lending
  • Real Estate Council Community Fund
  • Safehaven of Tarrant County
  • Trinity County Habitat for Humanity
  • Tarrant County Homeless Coalition
  • United Way of Metropolitan Dallas

Author

Ben Swanger

Ben Swanger

View Profile
Ben Swanger is the assistant editor for D CEO, the business title for D Magazine. Ben manages the Dallas 500

Related Articles

Image
Business

The Most Dubious Business Name in Dallas

Am I being too sensitive here?
By Tim Rogers
Image
Business

C-Suiters Share their Best Business Advice

Chris Crosby of Compass Data Centers, Sue Ansel of Gables Residential, and Shridhar Mittal of Zimperium share the words that have helped shape their careers.
Image
Coronavirus

COVID-19 Bulletin (12/21/20)

New cases were down a bit over the weekend, but there were 30 COVID-19 deaths on Sunday.