AI startup Island valued at $6.4 billion in latest funding round

AI startup Island said on Thursday it raised $400 million in a funding round that valued it at $6.4 billion.

The Series F funding round was led by Evolution Equity Partners, with participation from existing investors Prysm Capital, Sequoia Capital, Coatue Management, Cyberstarts, Insight Partners and JP Morgan Growth Equity Partners.

The Dallas-based company, which develops enterprise security tools, said the funding will fuel the company's next phase of growth and innovation as companies scale AI agents and modernize how work gets done.