Amid growing demand for telecommunications infrastructure, Cape secured a $100 million fresh Series C round, co-led by Bain Capital Ventures and IVP, with participation from new investors, 01 Advisors, 137 Ventures, Definition, and Fifth Down Capital. Cape is an American company, building deep telecommunication infrastructure across multiple sectors.
Including the latest round, the company has raised $191 million in fudning to date from investors including Bain Capital Ventures, IVP, A*, Andreessen Horowitz, 01 Advisors, 137 Ventures, Costanoa Ventures, Definition, ex/ante, Point72 Ventures, Fifth Down Capital, Forward Deployed VC, Karman Ventures, and XYZ Ventures.
Cape will use the latest $100 million Series C funding to speed adoption of its Enterprise Mobile Connectivity solutions across government, businesses, and consumers, while supporting further research and development.
Cape is a mobile virtual network operator, or MVNO, meaning it leases the use of physical towers from the traditional operators, but unlike other MVNOs, the company has built and runs its own mobile core and SIMs.
“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.”