Cape Raises $100 Million for Protection Against Cellular Security Threats

Privacy-first mobile carrier Cape announced on Thursday that it has raised $100 million in Series C funding, bringing the company’s total investment to $191 million. The Series C round was co-led by Bain Capital Ventures and IVP, with participation from 01 Advisors, 137 Ventures, Definition, and Fifth Down Capital. Cape offers a privacy-focused mobile virtual network operator (MVNO) service that delivers secure cellular connectivity across the US using eSIM technology. The platform operates its own mobile core while leasing physical towers from traditional carriers, allowing it to embed security features directly into the network layer and reduce exposure to common cellular threats like tracking or interception. The service includes daily rotation of SIM identifiers to prevent persistent device tracking, along with network-level protections that block SS7-based attacks aimed at location monitoring or call interception.  It provides end-to-end encryption for certain messaging functions, user-controlled SIM swap safeguards, and minimal data retention practices. Cape also supports multiple secondary phone numbers on a single SIM for compartmentalized use, as well as encrypted voicemail.  These capabilities target users seeking stronger defenses against surveillance and data compromise in mobile environments. The company offers its services to consumers, enterprises, and governments. “Cell phone networks track everywhere you go, every app you use, every person you call or text,” said John Doyle, CEO of Cape. “So when they’re compromised, it leads to some of the most sweeping and damaging violations of both national security and individual privacy in history. There’s no app, no add-on that fixes problems inherent in the underlying cellular network itself, so we’ve redesigned a telco from scratch to close this gap.” Related: Allure Security Raises $17 Million for Online Brand Protection Related: Oasis Security Raises $120 Million for Agentic Access Management Related: 1stProtect Emerges From Stealth With $20 Million in Funding Related: Privacy Platform Cloaked Raises $375M to Expand Enterprise Reach WRITTEN BY SecurityWeek News More from SecurityWeek News Privacy Platform Cloaked Raises $375M to Expand Enterprise Reach Autonomous Offensive Security Firm XBOW Raises $120M at $1B+ Valuation Cloud Security Startup Native Exits Stealth With $42 Million in Funding Virtual Summit Today: Supply Chain & Third-Party Risk Summit Surf AI Raises $57 Million for Agentic Security Operations Platform In Other News: N8n Flaw Exploited, Slopoly Malware, Interpol Cybercrime Crackdown Webinar Today: Securing Fragile OT in an Exposed World In Other News: FBI Hacked, US Security Pro Killed in Iran War, Hijacked Cameras Used in Khamenei Strike Latest News Navia Data Breach Impacts 2.7 Million Thousands of Magento Sites Hit in Ongoing Defacement Campaign Allure Security Raises $17 Million for Online Brand Protection Critical Langflow Vulnerability Exploited Hours After Public Disclosure Aisuru and Kimwolf DDoS Botnets Disrupted in International Operation Oasis Security Raises $120 Million for Agentic Access Management 1stProtect Emerges From Stealth With $20 Million in Funding Critical ScreenConnect Vulnerability Exposes Machine Keys Trending Webinar: Securing Fragile OT In An Exposed World March 10, 2026 Get a candid look at the current OT threat landscape as we move past "doom and gloom" to discuss the mechanics of modern OT exposure. 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