StealthMole, an AI-powered darkish internet intelligence startup that makes a speciality of monitoring cyber threats and detecting cybercrime, introduced Thursday that it has raised a $7 million Sequence A funding spherical.
The Singapore-headquartered startup with an R&D workplace in South Korea will use the contemporary capital to ascertain further R&D facilities and assist extra business makes use of of its know-how within the B2B sector and geographical enlargement.
“Having an R&D office in South Korea allows us to gain critical insights into how hackers from East Asia operate,” Simon Choi, chief know-how officer (CTO) at StealthMole, instructed TechCrunch. “Similarly, having researchers from various backgrounds in Singapore for Southeast Asia, or in other unique locations, will aid us in analyzing data related to neighboring countries.”
StealthMole was co-founded in 2022 by Louis Hur (CEO), an enterprise IT safety skilled and serial entrepreneur in cybersecurity, and Choi (CTO), a menace investigator and open supply intelligence (OSINT) profiler who beforehand labored as an adviser for the Nationwide Intelligence Service South Korea, the Nationwide Police Company, and the Ministry of Nationwide Protection in South Korea.
The startup serves over 50 purchasers throughout 17 nations in Asia, Europe, and the Center East. Its present buyer base principally contains authorities and regulation enforcement businesses for nationwide safety and cybersecurity groups inside enterprises, which handle cybersecurity incidents, analyze threats, and supply cybersecurity steerage and assist.
“StealthMole came about from a critical market gap I encountered while working in cybersecurity and white-hat hacking: a severe lack of data points and information networks, specifically within Asia,” Hur mentioned within the firm’s assertion. “At the same time, data leaks, anonymized transactions, and all manner of cybercrimes were spiking — both due to malicious intent and human error. To better understand digital threats, it’s crucial for law enforcement, intelligence agencies, corporate security teams, and cybersecurity experts to analyse regional contexts and their impact on illicit activities.”
The outfit says it traces criminals utilizing 255 billion analyzed knowledge factors from the darkish internet, deep internet and numerous hidden sources, together with leaked databases, cybercriminals’ blogs and Telegram.
One differentiator from its opponents within the cybersecurity business is its distinctive experience in Asia-related threats, Kevin Yoo, chief working officer (COO) at StealthMole, instructed TechCrunch. In response to a report by Check Point Research, Asia witnessed the best year-on-year surge in weekly cyberattacks within the first quarter of 2023 due to rapid digital transformation; the rise of the hybrid workforce and Asia’s manufacturing business, like semiconductors that maintain mental property, may very well be a goal for cyber espionage.
“The high demand for Asia-oriented threat information underscores the uniqueness and value of our dataset for customers worldwide, within and beyond Asia,” Yoo mentioned.
Korea Funding Companions led the Sequence A spherical with participation from Hibiscus Fund (a three way partnership between RHL Ventures, Penjana Kapital and KB Funding) and Smilegate Funding.
