Privacy-focused MVNO Cape raised a $100M Series C at a $900M valuation, and says its revenue grew from $4.5M in 2024 to $37M in 2025 (Thomas Brewster/Forbes)

Thomas Brewster / Forbes: Privacy-focused MVNO Cape raised a $100M Series C at a $900M valuation, and says its revenue grew from $4.5M in 2024 to $37M in 2025 — Cape cofounder and CEO John Doyle is seeing rapid revenue growth for his cell network, which deletes call logs and doesn't collect social security numbers like AT&T and Verizon do.