The article emphasizes financial and strategic milestones, highlighting performance and funding trajectory rather than opinion.

Its security features include daily rotation of SIM identifiers to prevent device tracking, protection against SS7-based location monitoring and call interception, end-to-end encryption for some messaging, user-controlled SIM swap safeguards, and minimal data retention.

Cape targets consumers, enterprises, and government agencies, emphasizing foundational network-level security rather than relying on apps or add-ons.

The Series C was co-led by Bain Capital Ventures and IVP, underscoring strong investor interest in secure next-generation mobile infrastructure.

Cape operates its own mobile core while leasing towers from traditional carriers, enabling security features to be embedded at the network layer and reducing exposure to cellular threats.

The company’s post-money valuation was reported at $900 million.

Cape, a privacy-focused MVNO that builds its own mobile core and leases traditional telecom infrastructure to embed security at the network layer, raised $100 million in a Series C round, bringing total funding to about $191 million.

The funding comes as concerns grow over vulnerabilities in traditional cellular networks due to breaches, surveillance risks, and outdated infrastructure, creating demand for more secure alternatives.

CEO John Doyle notes that cellular networks inherently track users and that Cape redesigned a telco from the ground up to fix core network vulnerabilities.

With the new capital, Cape plans to expand infrastructure, accelerate sector adoption, and advance its privacy-focused telecom stack to position itself as a next-generation alternative to legacy carriers.

Cape supports multiple secondary numbers on a single SIM and encrypted voicemail, appealing to a broad range of clients seeking stronger mobile security.

Cape’s revenue grew from $4.5 million in 2024 to $37 million in 2025, indicating rapid growth.