StealthMole raises $7M Series A for its AI-powered darkish net intelligence platform 

StealthMole, an AI-powered darkish net intelligence startup that focuses on monitoring cyber threats and detecting cybercrime, introduced Thursday that it has raised a $7 million Series A funding spherical.

The Singapore-headquartered startup with an R&D workplace in South Korea will use the contemporary capital to ascertain extra R&D facilities and assist extra industrial makes use of of its know-how within the B2B sector and geographical growth.

“Having an R&D workplace in South Korea permits us to achieve vital insights into how hackers from East Asia function,” Simon Choi, chief know-how officer (CTO) at StealthMole, instructed TechCrunch. “Similarly, having researchers from numerous backgrounds in Singapore for Southeast Asia, or in different distinctive places, will assist us in analyzing information associated to neighboring nations.”

StealthMole was co-founded in 2022 by Louis Hur (CEO), an enterprise IT safety knowledgeable and serial entrepreneur in cybersecurity, and Choi (CTO), a risk investigator and open supply intelligence (OSINT) profiler who beforehand labored as an adviser for the National Intelligence Service South Korea, the National Police Agency, and the Ministry of National Defense in South Korea.

The startup serves over 50 shoppers throughout 17 nations in Asia, Europe, and the Middle East. Its present buyer base largely contains authorities and legislation enforcement companies for nationwide safety and cybersecurity groups inside enterprises, which handle cybersecurity incidents, analyze threats, and supply cybersecurity steerage and assist.

“StealthMole took place from a vital market hole I encountered whereas working in cybersecurity and white-hat hacking: a extreme lack of knowledge factors and knowledge networks, particularly inside Asia,” Hur mentioned within the firm’s assertion. “At the identical time, information leaks, anonymized transactions, and all method of cybercrimes have been spiking — each because of malicious intent and human error. To higher perceive digital threats, it’s essential for legislation enforcement, intelligence companies, company safety groups, and cybersecurity specialists to analyse regional contexts and their impression on illicit actions.”

The outfit says it traces criminals utilizing 255 billion analyzed information factors from the darkish net, deep net 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. According to a report by Check Point Research, Asia witnessed the very best year-on-year surge in weekly cyberattacks within the first quarter of 2023 because of speedy digital transformation; the rise of the hybrid workforce and Asia’s manufacturing business, like semiconductors that maintain mental property, could possibly be a goal for cyber espionage.

“The excessive demand for Asia-oriented risk data underscores the distinctiveness and worth of our dataset for patrons worldwide, inside and past Asia,” Yoo mentioned. 

Korea Investment Partners led the Series A spherical with participation from Hibiscus Fund (a three way partnership between RHL Ventures, Penjana Kapital and KB Investment) and Smilegate Investment.

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