A Boston startup has raised $25 million in early-stage funding to tackle the erosion of privacy in today’s data sharing ecosystems.
The startup, called Cloaked, said the Series A investment was co-led by Lux Capital and Human Capital and will be used to exit beta and drive growth in a competitive marketplace.
Founded by two brothers, Arjun and Abhijay Bhatnagar, Cloaked is promising to help users change the way data is provided to online services.
Instead of sharing personal information like a phone number, email, or credit card with websites, Cloaked is providing an app and browser extension to let users create unlimited, unique identities.
“Cloaked creates instant identifiers and smart settings to make it easy for individuals to choose what, when, where and with whom they share information. When browsing online or in-person, Cloaked automatically generates unique email addresses, phone numbers, credit cards, passwords, and other account information,” the company explained.
“With every account sign up, [Cloaked] creates a new, encrypted database for every user where all personal information is stored, giving them the keys and control to manage or delete at any point,” it added.
To date, Cloaked has raised a total of $29 million in funding. In addition to Lux Capital and Human Capital, the company is backed by General Catalyst, Peter Thiel, Index Ventures, Jeff Weiner from Next Play Ventures, All Turtles, Khosla Ventures, Michael Ovitz, and the Chainsmokers’ Mantis Fund.
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