Island raised $400 million in a Series F round at a $6.4 billion valuation on 24 September, CNBC reported. Evolution Equity Partners led the financing for the Dallas-based enterprise security company.
Key points
- The new valuation compares with $3 billion in a 2024 funding round.
- Island had reached approximately $200 million in revenue by September 2026, CTech reported.
- The company is extending its security platform beyond the enterprise browser to cover employees and AI agents.
- Island plans to grow its workforce from 1,000 to 1,500 by the middle of 2027.
Island’s valuation follows two earlier rounds
The financing follows a $250 million round at a $4.8 billion valuation in March 2025 and a $175 million round at a $3 billion valuation in 2024, CTech reported. Those earlier prices provide the comparison for the Series F valuation as Island broadens the products it sells to corporate customers.
Island’s revenue stood at approximately $200 million in September 2026, with growth of about 100% a year, according to CTech. The company says revenue expected to repeat over a year has grown twofold in each financial year following its 2022 launch. The revenue figure and the recurring-revenue claim are distinct measures of its business.
Existing investors in the latest round include Prysm Capital, Sequoia Capital, Coatue Management, Cyberstarts and Insight Partners. J.P. Morgan Growth Equity Partners, Alta Park Capital, Georgian, G Squared and Squarepoint also participated. The round included both existing and new investors.
Island extends browser controls to AI agents
Island emerged from stealth in 2022 with an enterprise browser that places security and IT controls in the software employees use to access applications. Its proposed expansion takes that approach beyond browser activity to employees and AI agents operating across corporate devices, applications, networks and data.
Island calls the broader system an “agentic control plane”. It says the product combines controls for endpoints, networks, data and identity with tools for monitoring activity. The company’s stated aim is to give customers a common view of what a person or agent can access and which actions are permitted.
The company says its platform now covers consumer browsers through an extension, as well as endpoints and applications. Island also describes identity governance, human approvals, data boundaries and cost controls among the capabilities it offers for AI agents. That is a wider product proposition than securing employees’ activity inside its enterprise browser.
“Agents do not operate in a single layer of the technology stack, so they cannot be governed from one,” Dan Amiga, Island’s co-founder and chief technology officer, said. AI agents that use several applications and data sources are the focus of the company’s move into controls beyond the browser.
Pfizer and banks use Island’s products
Island counts Pfizer, Chipotle, American Airlines and major banks among its customers, CNBC reported. Island says eight of the world’s 10 largest banks use its enterprise browser. That claim concerns the established browser product rather than uptake of the broader AI-agent controls.
In the market for corporate security spending, Island faces established suppliers including Palo Alto Networks as well as other startups, CNBC reported. Its pitch is to bring controls that companies may use across separate parts of their technology systems into one platform. The new funding gives Island capital to pursue that expansion alongside rivals already selling enterprise security tools.
Island has 1,000 employees, compared with more than 500 last year, according to the company. Its workforce growth accompanies the shift from a browser-centred product towards controls spanning more of a customer’s applications, data and network activity.
Island plans to increase its workforce from 1,000 to 1,500 employees by the middle of 2027, chief executive Mike Fey said.
