Island, a cybersecurity company known for pioneering the enterprise browser, announced on September 24, 2026, that it has secured $400 million in Series F funding at a $6.4 billion valuation. The financing, led by Evolution Equity Partners, more than doubles the company's valuation since 2024 and includes both existing and new investors. The capital will support Island's expansion into a broader agentic control plane as enterprises deploy AI agents with increasing independence.
Funding Details and Investor Participation
Evolution Equity Partners led the round with participation from Prysm Capital, Sequoia Capital, Coatue Management, Cyberstarts, Insight Partners, J.P. Morgan Growth Equity Partners, Alta Park Capital, Georgian, G Squared, and Squarepoint. Cybersecurity entrepreneur Dmitri Alperovitch made another personal investment. The $400 million Series F brings Island's total valuation to $6.4 billion, up from $4.8 billion in March 2025 and $3 billion in 2024.
Expansion From Enterprise Browser to Agentic Control Plane
Island first emerged from stealth in 2022 with an enterprise browser designed to embed security, IT controls, and productivity tools directly into employee workflows. The company now applies the same principle beyond the browser to devices, applications, networks, and data. Its new agentic control plane is intended to give organizations a single view of who or what is acting, what it can access, and whether an action should be permitted.
Growth and Market Traction
Island has reached approximately $200 million in revenue and is growing at about 100 percent annually. The company reports that annual recurring revenue has doubled in every fiscal year since its 2022 launch. Eight of the world's ten largest banks use its enterprise browser, and the company has expanded to consumer browsers, endpoints, modern SASE architecture, and data protection.
Enterprise AI Governance Capabilities
Island's Enterprise AI offering is designed to help organizations deploy AI at scale regardless of which models, applications, or agents they choose. The platform supports identity governance, access controls, guardrails, data boundaries, human approvals, and cost governance across digital work. This allows security teams to maintain control while giving business units the flexibility to adopt AI tools quickly.
Unified Governance for People and AI Agents
Chief Technology Officer Dan Amiga explained that AI agents do not operate in a single layer of the technology stack, so they cannot be governed from one layer. Island's control plane unifies five critical areas: last-mile control, network, data, identity, and observability. This architecture allows organizations to see the full chain of activity and govern it in real time rather than reconstructing it after the fact.
Investor Perspectives
Richard Seewald, Founder and Managing Partner at Evolution Equity Partners, said enterprises are rethinking the basic architecture of work and need to govern what people and agents do wherever it happens. Cyberstarts Founder Gili Raanan noted that reaching a $6.4 billion valuation while doubling annual recurring revenue each year shows the company has built something enterprises genuinely need for the agentic era. Dmitri Alperovitch added that security must move to where work actually happens without slowing AI down.
Industry Recognition and Strategic Vision
The company's growth has earned recognition including a place on the CNBC Disruptor 50 list for 2026 and a Frost & Sullivan award as the 2026 Global Zero Trust Browser Security Company of the Year. Island was also named a Customers' Choice in the 2026 Gartner Peer Insights Voice of the Customer for Secure Enterprise Browsers. Chief Executive Officer Mike Fey said that just like humans, agents need the right context, access, guardrails, and accountability to succeed.
The new funding positions Island to accelerate innovation as enterprises modernize how work gets done in the AI age. By extending its visibility and governance capabilities across browsers, endpoints, networks, and data, the company aims to provide a missing layer for managing both human and agentic work. The investment underscores growing enterprise demand for security and governance frameworks that keep pace with AI adoption.