A Boston startup has raised $25 million in seed funding to fight 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 market.
Founded by two brothers, Arjun and Abhijay Bhatnagar, Cloaked promises to help users change the way data is delivered to online services.
Instead of sharing personal information like phone number, email or credit card with websites, Cloaked provides an app and browser extension to allow users to create unlimited and 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. While browsing online or in person, Cloaked automatically generates email addresses, phone numbers, credit cards and one-time passwords, and other account information,” the company explained.
“Whenever an account is opened, [Cloaked] creates a new encrypted database for each user where all personal information is stored, giving them the keys and control to manage or delete at any time,” he added.
To date, Cloaked has raised a total of $29 million in funding. Besides Lux Capital and Human Capital, the company is backed by General Catalyst, Peter Thiel, Index Ventures, Jeff Weiner of Next Play Ventures, All Turtles, Khosla Ventures, Michael Ovitz and the Chainsmokers’ Mantis Fund.
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