StealthMole, a pioneering dark web intelligence startup driven by AI, disclosed its successful completion of a $7 million Series A funding round on Thursday. The company, headquartered in Singapore with a dedicated research and development (R&D) center in South Korea, intends to utilize this fresh infusion of capital to expand its R&D presence, bolster its technology’s commercial applications in the B2B sector, and extend its geographical reach.
Innovative Approach: Leveraging AI for Deep Dark Web Analysis
Simon Choi, the Chief Technology Officer (CTO) at StealthMole, emphasized the strategic significance of their R&D base in South Korea, citing its capacity to offer crucial insights into the methodologies of hackers operating in East Asia. He also underscored the importance of having diverse researchers stationed in Singapore and other strategic locations to facilitate in-depth analysis of data pertaining to neighboring regions.
Founded in 2022 by Louis Hur, a seasoned enterprise IT security expert and serial entrepreneur in the cybersecurity domain, along with Choi, a seasoned threat investigator and open source intelligence (OSINT) profiler, StealthMole boasts a clientele of over 50 entities spanning 17 countries across Asia, Europe, and the Middle East. Its client base primarily comprises government and law enforcement agencies, as well as cybersecurity teams within enterprises, entrusted with the task of managing cybersecurity incidents, analyzing threats, and furnishing cybersecurity guidance and support.
Hur underscored the genesis of StealthMole as a response to a critical void observed in the cybersecurity landscape, particularly within the Asian context. He emphasized the imperative for law enforcement agencies, intelligence bodies, corporate security teams, and cybersecurity professionals to decipher regional nuances and their implications on illicit cyber activities.
Strategic Expansion: Establishing Global R&D Centers to Combat Cyber Threats
StealthMole’s modus operandi revolves around tracing malefactors by harnessing insights from a staggering 255 billion data points culled from the dark web, deep web, and assorted clandestine sources, including leaked databases, cybercriminal forums, and Telegram channels.
Kevin Yoo, the Chief Operating Officer (COO) at StealthMole, highlighted the company’s distinguishing factor in the cybersecurity realm—its specialized expertise in addressing Asia-centric threats. He pointed to a report by Check Point Research, which highlighted a surge in cyberattacks across Asia in the first quarter of 2023, driven by factors such as rapid digital transformation and the rise of hybrid work models. Yoo emphasized the relevance and value of StealthMole’s dataset, particularly in catering to the escalating demand for insights into Asia-oriented cyber threats.
Korea Investment Partners led the Series A funding round, with additional contributions from Hibiscus Fund (a collaboration between RHL Ventures, Penjana Kapital, and KB Investment) and Smilegate Investment.
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