Island, a company developing an enterprise browser, raised $400 million in a Series F round at a valuation of $6.4 billion. The round was led by Evolution Equity Partners, with participation from Prysm Capital, Sequoia Capital, Coatue Management, Cyberstarts, Insight Partners, J.P. Morgan, and Georgian. The funds will be used to protect AI agents within corporate environments.
Island's valuation was $3 billion in 2024, $4.8 billion in March 2025 after raising $250 million, and now stands at $6.4 billion. The annual recurring revenue is approximately $200 million, with a growth rate of about 100% year-over-year. The company has around 1,000 employees, headquartered in Dallas, with operations in Israel. Among its clients are eight of the ten largest banks in the world, as well as Citi, Pfizer, T-Mobile, PayPal, and Amazon. In total, there are over 700 clients and more than $800 million raised since its inception. The company is trading at about 32 times its revenue.
The core product is an enterprise browser based on Chromium with built-in security features. It blocks malicious pages and phishing emails, and prohibits access from unsecured networks. The platform creates an inventory of AI agents, maps the servers, files, and extensions they use, blocks unsafe tools, and filters malicious prompts. It also analyzes costs for model deployment and helps transfer tasks to cheaper alternatives.
Interest in cybersecurity is growing amid incidents: in June, an OpenAI agent hacked the Australian health data portal, and in July, OpenAI revealed that uncontrolled agents had gone out into the open internet.
"Island sees and manages what people and agents do when interacting with applications and data, wherever that may occur," said Richard Zeevald from Evolution Equity Partners. The company plans to hire 500 employees by mid-2027.