Island Raises $400 Million Series F at $6.4 Billion Valuation to Govern AI Agents

Island, the enterprise security company that built one of the first enterprise browsers, announced on September 24, 2026, that it raised $400 million in a Series F funding round led by Evolution Equity Partners. The round values the Dallas based company at $6.4 billion, more than double its $3 billion valuation from 2024 and up from roughly $4.8 billion in March 2025. The new capital brings total investment in Island to well over $1 billion since its launch.

Founded in 2020 by Dan Amiga and CEO Mike Fey, Island emerged from stealth in 2022 with an enterprise browser designed to protect the primary place where people work. Fey is a former Symantec president and McAfee CTO, and Amiga serves as the company's chief technology officer. The company has since expanded from browser security into data protection, data loss prevention (DLP), and a next generation SASE architecture built from the endpoint outward.

The Series F comes as enterprises accelerate their deployment of AI agents, software programs that can interact with applications, data, and corporate systems with growing independence. Island positions its platform as an "agentic control plane," a layer that governs both human interactions and automated workflows across endpoints, software, and networks. The company says the funding will support its next phase of growth and innovation as enterprises scale AI agents.

The round included existing investors Prysm Capital, Sequoia Capital, Coatue Management, Cyberstarts, Insight Partners, J.P. Morgan Growth Equity Partners, Alta Park Capital, Georgian, G Squared, and Squarepoint, along with a personal investment from Dmitri Alperovitch, the cybersecurity entrepreneur and co-founder and former CTO of CrowdStrike. Evolution Equity Partners led the round, with participation from both existing and new investors.

Key Facts

SecurityWeek reported on September 24, 2026, that Island raised $400 million in a Series F round at a $6.4 billion valuation, bringing total investment in the company to well over $1 billion. The company will use the money to enhance its platform and boost growth, according to the report. SecurityWeek also noted that Island has raised more than $1 billion since its launch in 2020.

CTech reported on September 24, 2026, that Island had reached approximately $200 million in revenue and was growing at about 100% annually. The company said eight of the world's 10 largest banks were using its enterprise browser, and it now employs 1,000 people, compared with more than 500 last year. Its annual recurring revenue has doubled every fiscal year since its launch.

Globes reported on September 24, 2026, that Island has 1,000 employees including 400 in its Tel Aviv development center, and that it has doubled its Israel workforce over the past 18 months. Island says it has doubled annual recurring revenue (ARR) every fiscal year since its 2022 launch, reflecting rising enterprise demand to accelerate AI adoption, redesign networks for end users, simplify security infrastructure, and protect sensitive data without adding friction for users.

GlobeNewswire reported on September 24, 2026, that the press release was dated Dallas, Sept. 24, 2026. The release noted Island was included on the CNBC Disruptor 50 list for 2026, was named the 2026 Global Zero Trust Browser Security Company of the Year by Frost & Sullivan, and was named a Customers' Choice in the 2026 Gartner Peer Insights Voice of the Customer for Secure Enterprise Browsers.

Richard Seewald, Founder and Managing Partner at Evolution Equity Partners, said in the release that enterprises are rethinking the basic architecture of work. He said Island meets the moment with a unique advantage: it can see and govern what people and agents are doing as they interact with applications and data, wherever that happens. Seewald added that Island has already shown it can create a category, displace legacy technologies, and accelerate customers' business transformation from the browser to the network.

Analysis

The bigger picture here is that Island's funding round is not simply a vote of confidence in a fast growing security vendor. It is a bet that the governance of AI agents will become a distinct and valuable layer of enterprise infrastructure, separate from the endpoint, network, and identity tools that have dominated cybersecurity for the past two decades. That is a significant claim, and the $6.4 billion valuation shows investors are willing to pay for it.

Island's trajectory illustrates how quickly the security market is being reshaped by AI. The company launched its enterprise browser in 2022, raised $175 million in 2024 at a $3 billion valuation, then raised $250 million in March 2025 at a $4.8 billion valuation. By September 2026, it had reached about $200 million in revenue with roughly 100% annual growth and had more than doubled its valuation again. That pace reflects urgent demand from CIOs and CISOs who are being asked to let AI agents access corporate systems while still enforcing data protection and compliance rules.

Dan Amiga, Island's co-founder and CTO, framed the problem directly. He said that agents do not operate in a single layer of the technology stack, so they cannot be governed from one. Island's answer is to bring together controls for the endpoint, network, data, identity, and observability, giving companies a single view of who or what is acting, what it can access, what data it can use, and whether an action should be permitted. That approach is architecturally ambitious, and it puts Island in competition with a broad set of platform vendors, from SASE providers to identity and data security specialists.

Mike Fey, CEO and co-founder, said the investment gives Island even more capacity to innovate with customers and help them safely scale AI. He noted that the company created the first enterprise browser to protect the primary place people work, then expanded into data protection and DLP, then built a next generation SASE architecture from the endpoint outward. Those combined capabilities, he said, give CIOs, CISOs, and business unit owners one security, productivity, and governance framework for everywhere human and agentic work occurs.

Why It Matters

The funding round matters because it signals where enterprise security budgets are heading. As AI agents move from experiments to production systems, companies need a way to audit and control what those agents do, not just what human employees do. Island's pitch is that the same platform can govern both, using an endpoint outward architecture to deliver zero trust network access (ZTNA), device posture assessment, and inline data loss prevention without traditional VPNs.

SecurityWeek reported on September 24, 2026, that the platform delivers ZTNA by constantly validating user credentials and environmental context before permitting connections to private data centers or hosted services. For organizations using AI, the solution provides guardrails that separate proprietary information from external language models while mitigating prompt injection risks. Security teams can implement granular DLP rules directly where work occurs, blocking unapproved clipboard transfers, downloads, and screen captures.

If Island can make that vision work at scale, it could become one of the rare security companies that spans browser, network, and data governance in a single control plane. The company already counts eight of the world's 10 largest banks as users of its enterprise browser, a customer base that suggests it has moved well beyond early adoption and into the core of regulated industries.

Next Up

Island said the new funding will support its next phase of growth and innovation as enterprises scale AI agents, providing visibility, control, and auditing for the AI age. With 1,000 employees and a Tel Aviv development center of 400 people, the company is expected to continue investing in its agentic control plane and in expanding its SASE and DLP capabilities.

The competitive landscape will be the real test. As more vendors add agent governance features, Island will need to prove that its endpoint outward approach delivers measurable security and productivity gains. For now, the $6.4 billion valuation and the backing of Evolution Equity Partners, Sequoia Capital, Coatue Management, and others give it substantial resources to make that case.