Cape Stock
| Valuation | $900M1 |
| Valuation Date | Mar 19, 2026 |
| Implied Valuation | n/a |
| Last Price | $50.00 |
| 52-Week High | $50.00 |
| 52-Week Low | $30.00 |
| YTD Return | n/a |
| 1-Year Return | n/a |
| 3-Year Return | n/a |
| Total Funding | $176M1, 2 |
| Latest Round Amount | $100M1 |
| Latest Round | Series C |
| Funding Rounds | 4 |
| IPO Status | Unknown |
| Expected IPO Date | n/a |
| Revenue | $37M3 |
| Revenue Type | 2025 |
| P/S Ratio | 24.3 |
About Cape
Cape is a privacy-first mobile carrier that leases tower access from traditional networks but runs its own mobile core and SIMs. It sells $99-a-month unlimited talk, text and data plans to consumers, plus network service and the Obscura handset to government agencies and enterprises that need protection from tracking, SIM swaps and signaling attacks. Cape makes money from those monthly subscriptions and from government and enterprise contracts. It was founded in 2022 by John Doyle, a former Palantir national security executive, and Nicholas Espinoza.
Invest in Cape
Cape is a private company, so you can't purchase it with a regular brokerage account. However, its shares are available on Clarity (formerly Hiive).
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News
Cape Achieves CMMC Level 2 Certification
Cape said an independent C3PAO certified its CUI Enclave to CMMC Level 2 against all 110 NIST SP 800-171 requirements, with no plan of action and milestones. The certification is valid through August ...
Product Feature: Multi-Network Coverage
Cape launched Multi-Network Coverage, letting subscribers automatically switch between two nationwide host networks on one number without swapping SIMs. The company said the feature is included in eve...
Cape's privacy-focused cell service protects data most carriers sell
Fast Company named Cape a 2026 World Changing Ideas honoree for a $99-per-month service that minimizes data collection, rotates SIM identifiers daily, and deletes call logs after 24 hours.
Cape Raises $100M Series C to Power Private and Secure Mobile Connectivity
Cape announced a $100 million Series C co-led by Bain Capital Ventures and IVP at a $900 million valuation, bringing total funding to $191 million.
Announcing our Series C
Cape raised a $100 million Series C at a $900 million valuation, co-led by Bain Capital Ventures and IVP. The company said the round brings total funding to $191 million.
This Ex-Palantir Exec Built A $900 Million Privacy-First Cell Network
Forbes reported Cape's $100 million Series C at a $900 million valuation and said revenue grew from $4.5 million in 2024 to $37 million in 2025. The company told Forbes it has 31 government contracts.
RiPSIM and Cape Announce Strategic Partnership to Deliver US-Sourced SIM Credentialing
Cape partnered with RiPSIM to integrate cloud-based, U.S.-sovereign SIM credentialing into its privacy-first mobile infrastructure for enterprise and government customers.
MVNO startup Cape goes live with privacy service
Cape took its privacy-first MVNO nationwide for consumers after starting with national-security users and the Obscura handset. CEO John Doyle said the customer mix is even between government and consu...
Privacy-first mobile carrier Cape launches nationwide consumer service
Cape began general availability of its nationwide privacy-focused cellular service, offering identifier rotation, encrypted SMS and voicemail, SIM-swap protection, and secondary numbers on its own mob...
Beta is Over. Cape is Live.
Cape exited open beta and launched nationwide consumer service, highlighting identifier rotation, network lock and encrypted secondary numbers. CEO John Doyle said the company runs its own mobile core...
Cape Obscura: The Best Inventions of 2025
TIME named Cape Obscura one of its Best Inventions of 2025 in privacy and security. The product pairs a rotating-identifier cellular service with a hardened Android device.
Vannevar and Cape Team Bring Real-Time RF Sensing to the Edge
Vannevar Labs said it used Cape's private network to backhaul Scout RF sensor data during Balikatan and Katana Strike 2025. Vannevar's CTO said the firm plans to use Cape as its primary network provid...
Cape opens $99/month beta of its privacy-first mobile plan, inks Proton deal, raises $30M
Cape opened a $99-a-month consumer beta with Proton and raised $15 million of Series B equity plus a $15 million SVB debt facility. TechCrunch said the equity extension brought Series B to $55 million...
Announcing Our Open Beta, in Partnership with Proton
Cape opened its consumer beta to anyone in the United States after a closed beta filled in four hours. New subscribers could add Proton Unlimited or Proton VPN Plus for $1 for six months.
Cape dials up $61M from a16z and more for mobile service that doesn't use personal data
Cape announced $61 million in funding, including a $40 million Series B co-led by A* and Andreessen Horowitz. TechCrunch said earlier seed and Series A rounds totaled $21 million under the Private Tec...