Island secures $400M funding, reaches $6.4B valuation amid AI security demand
The enterprise browser company doubled its revenue and more than doubled its valuation in under two years as businesses scramble to secure AI agents
Island, the cybersecurity startup that builds enterprise browsers, just raised $400 million in a Series F round that values the company at $6.4 billion. For a company founded in 2020, that’s the kind of trajectory that makes even seasoned venture capitalists do a double take.
The round was led by Evolution Equity Partners, with existing backers Prysm Capital and Sequoia Capital also participating. The capital will fund expansion of Island’s core platform, with a particular focus on securing AI agents operating inside enterprise environments.
From $3B to $6.4B in two years
Island’s valuation history reads like a startup’s fever dream. The company was valued at $3 billion in 2024, then $4.8 billion after raising $250 million in March 2025. Now it sits at $6.4 billion, more than doubling its valuation in roughly two years.
Island reported approximately $200 million in annual recurring revenue as of September 2026, reflecting roughly 100% year-over-year growth. The company now employs around 1,000 people, headquartered in Dallas with operations in Israel. Its client roster includes eight of the world’s ten largest banks, along with names like Citi, Pfizer, and T-Mobile. Total enterprise clients number over 700.
This $400 million round is Island’s largest ever. The company has now raised well over $800 million across multiple rounds since its founding.
AI, tech, and the markets they move—in one daily briefing.
Daily. Free. Join 34,000+ readers across crypto, finance, and policy.
Why a browser is suddenly a security product
Island’s core product is an enterprise browser that integrates security and IT controls directly into the browsing experience, creating a control layer between employees and the internet.
Island’s platform is designed to govern AI agents, ensuring they operate within defined security boundaries. It handles identity governance and data management for both human users and their AI counterparts.
At a $6.4 billion valuation against $200 million in ARR, Island is trading at roughly 32 times revenue. Evolution Equity Partners, which led the round, focuses specifically on cybersecurity and data technology investments.