Island raises $400m at a $6.4bn valuation to govern AI agents

Island secured $400 million in a Series F round, valuing the Dallas-based company at $6.4 billion. The round was led by Evolution Equity Partners, with participation from Prysm Capital, Sequoia, Coatue, and Dmitri Alperovitch of CrowdStrike. Island’s control-layer platform now manages employees and AI agents across browsers, devices, apps, networks, and data, adding identity controls, guardrails, human approvals, and cost limits for any AI model. The company has 1,000 employees and approximately $200 million in annual recurring revenue, doubling ARR each fiscal year since its 2022 launch.