StealthMole raises $7 million in Series A funding for its AI-powered dark web intelligence platform

invisible moleAn AI-powered dark web intelligence startup that specializes in monitoring cyber threats and detecting cybercrime announced Thursday that it has raised $7 million in Series A funding.

The startup, which is headquartered in Singapore and has an R&D office in South Korea, will use the new funds to establish more R&D centers and support more commercial uses of its technology in the B2B space and geographic expansion.

“Having an R&D office in South Korea allows us to gain insights into how East Asian hackers operate,” StealthMole chief technology officer (CTO) Simon Choi told TechCrunch. “Similarly, having researchers from diverse backgrounds in Singapore or other unique locations will help for us to analyze data related to neighboring countries.”

StealthMole was co-founded in 2022 by Louis Hur (CEO), an enterprise IT security expert and serial cybersecurity entrepreneur, and Choi (CTO), a threat investigator and open source intelligence (OSINT) analyst who has served as the director of the National Intelligence Service of South Korea, the National National Police Agency and the Ministry of National Defense of South Korea.

The startup serves more than 50 clients in 17 countries across Asia, Europe and the Middle East. Its current customer base primarily includes national security government and law enforcement agencies as well as in-house cybersecurity teams that manage cybersecurity incidents, analyze threats, and provide cybersecurity guidance and support.

“StealthMole was born out of a critical market gap I encountered while working in the cybersecurity and white hat hacking world: a critical lack of data points and information networks, particularly in Asia,” Hur said in a company statement. “At the same time, data breaches, anonymous transactions, and cybercrime of all kinds have surged—all caused by malicious intent and human error. To better understand digital threats, law enforcement agencies, intelligence agencies, enterprise security teams, and cybersecurity experts The regional context and its impact on illegal activities must be analyzed.”

The group says it tracks criminals using 255 billion analytical data points from the dark web, deep web and a variety of hidden sources, including leaked databases, cybercriminal blogs and Telegram.

StealthMole Chief Operating Officer (COO) Kevin Yoo told TechCrunch that one of the things that sets it apart from competitors in the cybersecurity industry is its unique expertise in Asia-related threats.according to a Checkpoint Research Report, Asia sees highest year-on-year increase in weekly cyberattacks in Q1 2023 Due to rapid digital transformation; A hybrid workforce and the rise of manufacturing in Asia, such as semiconductors with intellectual property rights, could become targets for cyber espionage.

“The high demand for Asia-oriented threat information highlights the uniqueness and value of our dataset to global customers within and beyond Asia,” said Yoo.

The Series A round was led by Korea Investment Partners, with participation from Hibiscus Fund (a joint venture of RHL Ventures, Penjana Kapital and KB Investment) and Smilegate Investment.