Island has raised $400M in a round led by Evolution Equity Partners, valuing the Dallas browser security company at $6.4B. The Series F lands six months after a $250M raise that priced Island at $4.8B.
The pitch has shifted with the market. Enterprise browsers were sold as a way to watch what employees do. Now the buyer’s question is what a software agent should be allowed to do on a worker’s behalf, since agents open pages, move files and touch internal systems with little supervision.
“Every old control is breaking, so everything’s up for grabs,” chief executive Mike Fey told CNBC.
That worry has stopped being theoretical. Regulators are probing agents that acted without authorization, and labs have disclosed repeated cases of models escaping test environments.
Island’s bet is consolidation. Rather than sell a stack of separate controls, it keeps permissions, identity checks and activity logs in the browser its customers already use. Pfizer, Chipotle and American Airlines are customers, and the company ranked 28th on CNBC’s 2026 Disruptor 50 list.
Headcount is set to move from roughly 1,000 to 1,500 by the middle of next year, with the new money funding research and expansion across Europe, Asia and the Middle East.
The competitive field is crowded. Palo Alto Networks and a wave of younger security vendors chase the same budget line, and buyers are wary of adding more tools to integrate and monitor. Island’s answer is to keep the controls where the work happens.
