Funding record · 2025 / 10
Conceal raises $26M Series B for network security
Announced 16 October 2025 · Recorded 8 September 2026 · Last verified 8 September 2026
Conceal, a network security company based in Augusta, United States, raised $26M in a Series B announced on 16 October 2025, led by Two Bear Capital, AllegisCyber and Gula Tech Adventures with one other. Its disclosed equity funding is now $35M across 3 rounds.
- Amount
- $26M
- Round
- Series B
- Announced
- 16 October 2025
- Lead investors
- Two Bear Capital, AllegisCyber, Gula Tech Adventures, BYU Cougar Capital
- Sources on record
- 1prnewswire.com
From the source
Conceal Closes $26 Million Series B Funding Round Led by Two Bear Capital
Conceal, a pioneer in browser-native Security Service Edge (SSE) and proxy-less Zero Trust Network Access (ZTNA) technology, announced the close of a $26 million Series B funding round led by Two Bear Capital.
prnewswire.com · 16 October 2025 ↗The Mandos read
What the record says about Conceal
- Momentum 23 / 100 · Stallinglocked →
pillars in the platform
- 47 employees · down 8% last monthlocked →
history and breakdowns in the platform
- Exit Readiness: Lowlocked →
Tested against 751 past exits in the Mandos record: 43% sat in Watch or Elevated 2 years before. Companies in Elevated exited at 3.1× the record's rate.
Funding history
Conceal funding on record
Conceal has raised $35M in priced equity. Its most recent round was a Series B in October 2025.
Latest round on record: Series B, Oct 2025.
Conceal funding on the profile →Related rounds
Other verified cybersecurity rounds
Also in Oct 2025
Most recent five, same month
In the platform
The round is the fact. The read is the product.
Every round, investor and correction for Conceal, the competitors buyers weigh it against, hiring by department, and an alert when the next thing happens.
The same record answers in Claude, ChatGPT and Cursor through the Mandos MCP server.
The Mandos Brief
Cybersecurity funding, deals and moves, every Monday.
FAQ
Questions people ask
- How much did Conceal raise in its Series B?
- Conceal raised $26M in a Series B announced on 16 October 2025.
- Who invested in Conceal's Series B?
- The round was led by Two Bear Capital, AllegisCyber, Gula Tech Adventures, BYU Cougar Capital.
- What does Conceal do?
- Conceal is a cybersecurity company specializing in Network Security, founded in 2012 and headquartered in Augusta, United States.
