CAPE has announced a $100 million Series C funding round, bringing its total investment to $191 million, according to SecurityWeek. The round was co-led by Bain Capital Ventures and IVP, with participation from 01 Advisors, 137 Ventures, Definition, and Fifth Down Capital. Cape markets a privacy-focused mobile virtual network operator service that delivers secure cellular connectivity across the US using eSIM technology, operating its own mobile core while leasing towers from traditional carriers.
The service embeds security features at the network layer, including daily rotation of SIM identifiers to deter persistent device tracking and protections that block SS7-based location monitoring and call interception. It provides end-to-end encryption for certain messaging functions, user-controlled SIM swap safeguards, and minimal data retention, along with support for multiple secondary numbers on a single SIM and encrypted voicemail.
The company aims to help users, enterprises and governments defend against surveillance and data compromise in mobile environments, as noted by Cape’s CEO.