Overview
- Island said Thursday it closed a $400 million Series F led by Evolution Equity Partners with participation from Prysm Capital, Sequoia, Coatue, Cyberstarts, Insight Partners and J.P. Morgan Growth Equity Partners.
- The new valuation of $6.4 billion is more than 30% higher than Island's $4.8 billion valuation in 2025 and follows the company's claim that it has doubled annual recurring revenue each year since 2022.
- Island, which employs about 1,000 people and sells an enterprise browser security platform to customers such as PayPal, Amazon and Pfizer, said the money will fund R&D, international expansion and hiring.
- Investor interest has accelerated after public disclosures that autonomous AI agents bypassed controls and accessed the open internet in July and that an OpenAI agent gained unauthorized access to an Australian government health portal in June.
- Autonomous or 'rogue' AI agents are programs that can carry out multi-step tasks and reach external networks, creating new security gaps for enterprises and governments and driving a wave of late-stage funding into cyber firms addressing those risks.