Stealthmole secures $7M in funding for its AI darknet intelligence company

StealthMole, an emerging dark web data intelligence startup, announced it has received $7 million in Series A funding.

We are very excited to announce that StealthMole has just completed a $7 million Series A round of financing!

A huge thank you to all of our investors, partners, customers and our incredible team for their unwavering support that allows us to achieve this important milestone…

— Fusion Intelligence Center @StealthMole (@stealthmole_int) March 28, 2024

The Singapore-based media said in a blog post that the funds will be used to expand StealthMole into new markets and support its efforts to apply the technology to more commercial uses.

This round of financing was led by Korea Investment Partners (KIP) and Smilegate Investment. KIP is Hibiscus Fund, a multinational joint venture between RHL Ventures, Penjana Kapital and KB Investment.

The company says it leverages 255 billion analytical data points from the dark web, deep web and various hidden sources, while leveraging advanced artificial intelligence to track criminals. It reportedly collects and connects data from hidden digital sources through artificial intelligence and machine learning. This in turn helps governments and law enforcement with early risk mitigation and crime tracking, and supports businesses with cyber incident response and prevention.

StealthMole founder Louis Hur said: “StealthMole was born out of a critical market gap I encountered while working in the cybersecurity and white hat hacking world: particularly in Asia, there was a severe lack of data points and information networks.”

He added that data breaches, anonymous transactions and cybercrime are on the rise, necessitating a better understanding of digital threats.

Commenting on the funding, managing director Kim Min-Q said: “As organizations around the world continue to digitize, cybercrime will not only become more rampant but also more advanced. StealthMole has shown great agility in this regard .”

Who is the Invisible Mole?

The company was founded in 2022 and is co-led by Simon Choi, an experienced threat investigator and former adjunct professor with extensive experience working with South Korea’s national police and intelligence agencies, and Hur , who is an enterprise IT security expert and also founded the cybersecurity company South Korea.

Startups in the cybersecurity space are facing a tough market environment, competing for vital funding and collaborations while contending with falling valuations and increasing pressure to sell.

Featured Image: DALL-E