Cloaked, the Boston-based privacy startup that lets users generate disposable email addresses, phone numbers, and passwords for every online account, announced on Thursday that it raised $375 million in Series B funding and growth financing. The round was led by General Catalyst and Liberty City Ventures, with the company planning to use the capital to push into the enterprise market for the first time.
- Cloaked raised $375 million in Series B equity and growth financing led by General Catalyst and Liberty City Ventures, announced on March 19, 2026.
- The company reported 10x revenue growth last year and now has more than 350,000 paying customers across its consumer privacy platform.
- Cloaked plans to use the funding to expand into enterprise sales, grow its nearly 70-person team, and pursue international expansion.
Details of the Cloaked Funding Round
The $375 million round is a combination of equity funding and growth capital. General Catalyst led the equity portion and also provided non-dilutive growth financing through its Customer Value Fund, a lending vehicle that gives startups capital to fuel customer acquisition without giving up additional equity. Liberty City Ventures co-led the round.
Other investors in the round include Lux Capital, Human Capital, Marquee Ventures, Fifth Growth Fund, NFL Players Association, LG Technology Ventures, Assurant Ventures, and DuckDuckGo, according to TechCrunch. Cloaked did not disclose its valuation or the split between equity and debt.
The company previously raised $25 million in a Series A round in 2022 and had accumulated more than $29 million in total funding before this raise. The new round represents a roughly 13x increase over all prior capital raised.
What Cloaked Does and Why It Is Growing
Cloaked is a privacy platform that generates virtual identities on demand. Users can create unique, working email addresses, phone numbers, and passwords for every service they sign up for, keeping their real credentials hidden. The platform also includes data broker removal across more than 120 brokers, dark web monitoring, spam call blocking, $1 million in identity theft insurance, a built-in VPN, and virtual payment card masking.
Brothers Arjun Bhatnagar (CEO) and Abhijay Bhatnagar (CTO) founded Cloaked in 2020 in Lowell, Massachusetts. Arjun has said the idea came from a simple realization: “I don’t own any of my own data and I don’t trust big tech companies to build something like this.” The company launched its MVP in 2021 and ran a beta through 2022 before scaling its consumer product.
Cloaked reported 10x revenue growth in 2025 and now serves more than 350,000 paying customers, according to the company. The startup has nearly 70 employees and plans to hire across product, engineering, enterprise sales, and international operations.
Why the Enterprise Pivot Matters
The enterprise expansion signals a broader shift in how companies think about employee and customer identity protection. Businesses face the same data exposure risks as individual consumers, from credential reuse to phishing attacks that exploit real email addresses and phone numbers. Cloaked’s technology could let companies issue disposable credentials to employees or embed privacy layers into customer-facing products.
The round also reflects continued investor appetite for cybersecurity and privacy infrastructure. Privacy startups have attracted significant capital in 2026 as data breaches, AI-powered phishing, and tightening privacy regulations across the US and EU push both consumers and enterprises to seek better protection. Cloaked’s ability to grow 10x on consumer revenue alone before raising a mega-round positions it as one of the fastest-scaling startups in the identity protection category.
Frequently Asked Questions
How Much Did Cloaked Raise in Its Series B Round?
Cloaked raised $375 million in a combination of Series B equity funding and growth financing, led by General Catalyst and Liberty City Ventures. General Catalyst also provided non-dilutive growth capital through its Customer Value Fund.
What Does Cloaked Do?
Cloaked is a privacy platform that generates virtual identities, including disposable email addresses, phone numbers, and passwords, so users can interact with online services without sharing their real personal data. The company also offers data broker removal, dark web monitoring, identity theft insurance, and virtual payment cards.
Why Is Cloaked Expanding Into the Enterprise Market?
Cloaked is moving into enterprise because businesses face the same identity exposure risks as consumers, and the company’s 10x revenue growth and 350,000 paying customers proved demand for its privacy-first approach at scale.
