Conceal has closed a $26 million Series B funding round led by Two Bear Capital, with participation from existing investors Allegis Cyber and Gula Tech Adventures. The company, which specializes in browser-native Security Service Edge (SSE) and proxy-less Zero Trust Network Access (ZTNA) technology, plans to use the capital to accelerate product development and expand its go-to-market efforts.
The funding will also support team growth as Conceal works to help enterprises deliver trusted access and in-browser security to employees and third-party contractors, regardless of their location.
Organizations are increasingly questioning their reliance on legacy VPNs, proxies, and cloud-routed SSE solutions. These traditional approaches often introduce latency, increase costs, and add operational complexity. Conceal's browser-native model offers an alternative that connects users directly to applications without routing traffic through data centers.
"For years, organizations have relied on inefficient methods of delivering secure access and browser protection, often leaving gaping holes that attackers could exploit," said Eric Cornelius, CEO of Conceal. "Our direct approach to zero trust and in-browser security finally delivers on the promise of tech-stack consolidation, driving out complexity, cost, and friction."
The new funding will primarily fuel product development velocity, allowing Conceal to enhance its browser-native platform capabilities. The company will also invest heavily in sales and marketing initiatives to reach more enterprises struggling with complicated security architectures.
Conceal plans to expand its team across engineering, sales, and customer success functions. This hiring push reflects growing demand for solutions that simplify secure connectivity without compromising control or visibility.
Most organizations today maintain separate technology stacks for connectivity and security. While many cybersecurity vendors have focused on consolidating the security stack, the connectivity side—often a major source of expense and complexity—has remained largely unchanged.
Conceal's Browser-Native SSE Platform addresses this by consolidating both stacks into a single solution. Organizations can reallocate budgets and redirect limited IT resources to other pressing priorities. The platform uses advanced in-browser technology to deliver direct connections to applications while eliminating the need for VPNs, VDIs, and proxies.
Unlike enterprise browsers that require installing additional software, Conceal's intelligent extension works with any existing browser. For unmanaged devices, users simply log into the Conceal Console, where they receive secure, policy-based access to authorized private resources without local software installation.
Security and IT teams get complete visibility into user activity and threats through pre-built integrations that stream data into SIEM/XDR platforms and commonly used tools like Splunk, SOAR, and business intelligence solutions. The platform also generates executive-level reports that demonstrate measurable value and risk reduction.
The investment comes as the cybersecurity industry shows growing interest in lightweight, direct-to-browser security models. Two Bear Capital sees significant potential in Conceal's approach to simplifying secure connectivity.
"Conceal's browser-native approach represents a major shift in how enterprises deliver secure access," said Mike Goguen, Founder and Managing Partner at Two Bear Capital. "They are addressing one of cybersecurity's biggest challenges, simplifying secure connectivity without sacrificing control and doing it in a way that scales naturally with how people work today. Conceal is a great addition to the Two Bear Capital portfolio and we look forward to working with its leadership team to support the company's dynamic growth."
Two Bear Capital, founded in 2019 by Mike Goguen, focuses on investing in entrepreneurs tackling complex and critical problems. The firm concentrates primarily on early founder-led companies with disruptive innovations in life sciences and technology. Two Bear Capital operates offices in Menlo Park, San Diego, Boston, and New York, with its headquarters in Whitefish, Montana.
Allegis Cyber and Gula Tech Adventures, both of which participated in previous funding rounds, continue to support Conceal's growth. Their ongoing involvement reflects confidence in the company's technology and market position.
