Island, a browser security company, raised $400 million at a $6.4 billion valuation in a round led by Evolution Equity Partners, CNBC reported on September 24. CNBC framed the raise as part of a spending wave driven by AI-enabled attacks.
The pattern fits other recent security rounds, including Comp AI's $34 million Series A for agentic compliance work and Rein Security's $25 million Series A for securing AI agents. Cybersecurity shares also rallied in mid-September when AI slowdown fears hit AI stocks.
Source: CNBC