Colaeb
Island Raises $400M Series F at $6.4B Valuation to Govern AI Agents
Evolution Equity Partners leads as the enterprise browser maker reports doubling revenue every year since its 2022 launch.
Island, the Dallas company that built a browser for enterprise work, has raised a $400 million Series F at a $6.4 billion valuation. Evolution Equity Partners led the round.
Prysm Capital, Sequoia Capital, Coatue Management, Cyberstarts, Insight Partners, J.P. Morgan Growth Equity Partners, Alta Park Capital, Georgian, G Squared and Squarepoint also participated, along with a personal investment from CrowdStrike co-founder Dmitri Alperovitch.
From Enterprise Browser to Control Plane
Island launched in 2022 with a simple premise: most work happens in a browser, so security and governance belong there rather than bolted on around it.
The company now positions the product as an agentic control plane, giving IT and security teams visibility and audit control over what both employees and AI agents are doing across browsers, endpoints, networks and data.
"Island created the first Enterprise Browser to protect the primary place people work," said co-founder and CEO Mike Fey. "This investment gives us even more capacity to innovate with our customers and help them safely scale AI."
Growth Since Launch
Island says it has doubled annual recurring revenue every fiscal year since launching in 2022, and now employs about 1,000 people.
The company was co-founded by Fey, a former Symantec and McAfee executive, and CTO Dan Amiga.
The AI Agent Angle
The pitch that drew this round is governance of AI agents. As companies deploy agents that log into SaaS applications and act on company data, security teams face a new question: what exactly did the agent do, and with whose permissions?
"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," said Richard Seewald of Evolution Equity Partners.
FinTech Global noted the raise lifts Island to a $6.4 billion valuation, up as enterprises push agents deeper into regulated workflows.
Why It Matters
The enterprise browser was a skeptically received category when Island started; incumbent security vendors argued the browser was Google's and Microsoft's turf. Doubling revenue every year since has answered much of that.
Now the same position, sitting between the user and every web application, is what makes Island a candidate to police AI agents. The $400 million gives it room to build that out before larger security platforms arrive with their own version.
Source
GlobeNewswire — "Island Announces $400 Million Series F, Bringing Valuation to $6.4 Billion"