Cloaked, a pioneering company in consumer privacy solutions, has successfully raised $375 million in Series B funding to enhance its offerings and enter the enterprise market. Founded by brothers Arjun and Abhijay Bhatnagar in 2020, Cloaked stands out by providing a comprehensive suite of security tools that allow users to create multiple identities using unique emails, phone numbers, and passwords, thereby safeguarding their personal information.
Over the years, the company has broadened its services to include data removal, identity theft insurance, VPN access, and dark web monitoring. Recently, it introduced AI-powered call screening to further enhance user security. As the landscape of cyber threats evolves, Cloaked aims to protect consumers from sophisticated scams and data breaches that leverage artificial intelligence.
"With AI becoming increasingly adept at compromising individual security, we view this as a critical issue of personal and family safety," stated CEO Arjun Bhatnagar. The company plans to extend its AI-driven screening capabilities to text messages, emails, and web browsing, while also testing an AI agent that can autonomously change compromised passwords without transmitting sensitive data to the cloud.
Cloaked has experienced remarkable growth, boasting over 350,000 paying customers and having protected 10 million identities. The app has effectively eliminated more than 1 billion records from data broker sites, showcasing its impact on user privacy. Since launching its call screening feature, Cloaked has processed over 50 million spam or scam calls, solidifying its position in the market.
In its latest venture, Cloaked is rolling out enterprise solutions that provide employees with similar protections as its consumer offerings. This includes identity and password management, scam alerts, and aggregated risk assessments for corporate security officers. By doing so, it aims to enhance overall security awareness within organizations.
With a team of nearly 70 employees, Cloaked is looking to expand its workforce across various sectors, including product development, engineering, and international sales. The company competes with notable players such as 1Password, Guardio, and DuckDuckGo, all of which offer overlapping privacy solutions.
The recent funding round was led by General Catalyst and Liberty City Ventures, with contributions from several other prominent investors. Mark Crane, a partner at General Catalyst, emphasized the significance of Cloaked's diverse security offerings, which cater to a wide array of consumer needs.
As Cloaked continues to innovate and expand, it positions itself as a vital player in the evolving landscape of internet security, potentially setting new standards for privacy protection in an increasingly AI-driven world.