Enterprise Expansion: Privacy Company Cloaked Secures $375M Investment

The Rise of Cloaked: A Comprehensive Solution for Security and Privacy

In the realm of consumer-facing security tools, the focus has traditionally been on specific modalities like password protection, VPNs, or identity management. However, this approach often necessitates the use of multiple tools to ensure the privacy of personal data. Recognizing this challenge, Cloaked, a pioneering company offering a holistic suite of security and privacy solutions, recently announced a significant milestone. With the successful securing of $375 million in Series B funding and growth financing, Cloaked is poised to expand its consumer offerings and venture into the enterprise market.

Founded in 2020 by the visionary brothers Arjun and Abhijay Bhatnagar, Cloaked initially provided users with the ability to create multiple identities using fictitious data such as emails, phone numbers, and passwords. This innovative approach allowed individuals to log in to various services without divulging their actual personal information. Over time, Cloaked diversified its services to include data removal, identity theft insurance, VPN services, dark web monitoring, and AI-powered call screening.

The company’s CEO, Arjun Bhatnagar, emphasized the critical need for enhanced security measures in a landscape where hackers and scammers leverage AI technology to perpetrate novel attacks. Cloaked’s mission is rooted in safeguarding personal and financial well-being against evolving threats such as scam spam, phishing, and surveillance.

Looking ahead, Cloaked plans to extend its AI-powered screening protection to encompass text messages, email communications, and web browsing. Additionally, the company is exploring the development of an AI agent capable of taking proactive measures, such as changing compromised passwords on behalf of users. Bhatnagar underscored the importance of using AI responsibly to ensure data security and privacy.

With a remarkable 10x growth trajectory in the past year, Cloaked now boasts over 350,000 paying customers. The company has safeguarded 10 million identities, facilitated the removal of over 1 billion records from data broker sites, and intercepted more than 50 million scam or spam phone calls through its call-screening feature.

Expanding its reach to the enterprise sector, Cloaked offers employees a suite of protective solutions akin to its consumer products, including identity and password management. This enterprise product equips employees with real-time scam alerts and enables CISOs to assess individual risk levels, monitor cleaned records, and identify potential threats that could impact business operations.

With nearly 70 employees on board, Cloaked aims to bolster its workforce across various domains such as product development, engineering, enterprise sales, and global expansion initiatives.

In a competitive landscape populated by industry stalwarts like 1Password, Guardio, Firefox, Proton, and Mozilla, Cloaked distinguishes itself through its comprehensive suite of security and privacy offerings. Notably, the company shares common ground with one of its investors, DuckDuckGo, which also provides VPN and identity theft protection services.

The latest funding round, spearheaded by General Catalyst and Liberty City Ventures, with contributions from Lux Capital, Human Capital, Marquee Ventures, Fifth Growth Fund, NFL Players Association, LG Technology Ventures, Assurant Ventures, and DuckDuckGo, underscores investor confidence in Cloaked’s strategic vision. General Catalyst’s Customer Value Fund, dedicated to supporting startups’ customer acquisition efforts without diluting equity, provided growth financing in this round.

Prior to this milestone, Cloaked had amassed over $29 million in funding from prominent investors, including Lux Capital, Human Capital, and General Catalyst. Mark Crane, a partner at General Catalyst, lauded Cloaked’s versatile security and privacy solutions, highlighting their relevance across diverse consumer segments.

Crane expressed confidence in Cloaked’s ability to navigate the evolving landscape of AI-driven internet threats and emerge as a trusted guardian of personal and corporate data. He envisions Cloaked becoming a benchmark for privacy and security excellence, offering users a reliable shield against the proliferation of AI-driven threats.

As Cloaked continues to innovate and expand its offerings, the company remains committed to empowering consumers with customizable privacy solutions tailored to their specific needs. Whether users seek comprehensive protection or targeted security measures, Cloaked stands ready to deliver the solutions that safeguard their digital well-being.