An AI-driven dark web intelligence startup specializing in identifying and monitoring computer vulnerabilities revealed on Thursday that it had secured a $7 million Series A funding round.
The firm, headquartered in Singapore with an R&D hub in South Korea, plans to utilize the fresh capital to broaden its reach and enhance its business activities.
“Establishing an R&D presence in South Korea enables us to gain crucial insights into the tactics of cybercriminals in East Asia,” shared Simon Choi, Chief Technology Officer (CTO) at StealthMole, with TechCrunch. “Similarly, having a diverse team of researchers in Singapore focusing on Southeast Asia and other specific regions will aid us in dissecting intelligence pertaining to neighboring countries.”
Founded in 2022 by Louis Hur (CEO), a seasoned cybersecurity entrepreneur and enterprise IT security specialist, and Choi (CTO), a threat analyst and open-source intelligence (OSINT) expert with prior advisory roles at key South Korean agencies, StealthMole caters to more than 50 clients spanning 17 countries across Asia, Europe, and the Middle East. The bulk of its client base comprises government entities, law enforcement agencies, and corporate cybersecurity teams that oversee security incidents, evaluate risks, and provide security guidance and assistance.
Hur highlighted a significant scarcity of detailed data and information systems in Asia during a recent address, noting, “StealthMole emerged from a critical business vacuum I encountered while immersed in security and white hat hacker circles.” He added, “Simultaneously, the proliferation of data breaches, covert transactions, and various forms of attacks was on the rise—stemming from both malicious intent and human error. To better grasp online threats, it is imperative for law enforcement agencies, intelligence bodies, corporate surveillance units, and security professionals to scrutinize local dynamics and their impact on illicit activities.”
The company claims to track malefactors by sifting through 255 billion scrutinized data points sourced from the dark web, deep web, and diverse clandestine outlets such as leaked databases, cybercriminal forums, and Telegram.
A distinguishing factor setting StealthMole apart from its cybersecurity counterparts is its specialized knowledge in Asian-centric threats, as highlighted by Kevin Yoo, Chief Operating Officer (COO) at StealthMole, in an interview with TechCrunch. According to a Check Point Research report, Asia experienced the most substantial year-on-year surge in weekly cyber assaults in the initial quarter of 2023 due to swift digital evolution. The proliferation of hybrid work models and Asia’s manufacturing sector, particularly semiconductors housing proprietary information, could be prime targets for cyber espionage.
“The escalating demand for threat intelligence pertaining to Asia underscores the value of our data repository to both local and global clientele,” remarked Yoo.
The Series A financing round was spearheaded by Smilegate Investment Partners and RHL Ventures, joined by Penjana Kapital and Korea Investment Partners.
