The round was co-led by Bain Capital Ventures and IVP, with participation from new investors, 01 Advisors, 137 Ventures, Definition, and Fifth Down Capital. Cape has built a carrier from the ground up to protect U.S. government agencies, businesses, and privacy-conscious individuals against cellular security threats.

Cape is a privacy-focused cellular network provider offering device and mobile network solutions to government, enterprises, and consumers. Its mission is to ensure communication is private, secure, and resilient. The company has raised $191M 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. Research partners include leading cybersecurity institutions including the Air Force Research Laboratory, the University of Maryland, and others.