StealthMole, a burgeoning startup in the field of artificial intelligence (AI)-powered dark web intelligence, has successfully completed a Series A funding round, securing US$7 million. The company, which is based in Singapore and operates a research and development (R&D) office in South Korea, aims to use this significant investment to expand its R&D capabilities and enhance its commercial offerings within the business-to-business (B2B) sector, as well as to broaden its geographical reach.
Expanding globally with a focus on Asia
StealthMole is in a unique position, with its base in Singapore and an R&D office in South Korea, to tackle the rising cyber threats and cybercrime incidents from a vantage point that covers the East Asian region comprehensively. Simon Choi, the Chief Technology Officer (CTO) at StealthMole, emphasised the importance of having a diverse team of researchers spread across various strategic locations to understand better and counter cyber threats in neighbouring countries.
The company was co-founded in 2022 by Louis Hur, an expert in enterprise IT security and a seasoned entrepreneur in the cybersecurity space, and Simon Choi, a noted threat investigator and open-source intelligence profiler with a distinguished background of advising national security agencies in South Korea.
StealthMole has rapidly grown its client base to over 50 clients spread across 17 countries in Asia, Europe, and the Middle East. The firm primarily serves government and law enforcement agencies, as well as cybersecurity teams within large corporations, offering services that range from incident management to threat analysis and cybersecurity advisement.
Addressing a critical gap in cyber intelligence
Louis Hur, CEO of StealthMole, highlighted the startup's inspiration: a glaring gap in the cyber intelligence market, particularly in Asia, where there is a critical need for more comprehensive data points and information networks to combat the rising tide of cybercrimes, data breaches, and unauthorized transactions.
StealthMole distinguishes itself in the crowded cybersecurity industry by specializing in threats related to Asia, a region experiencing a significant increase in cyberattacks, partly due to rapid digital transformation and the evolution of the hybrid workforce. Kevin Yoo, StealthMole's Chief Operating Officer (COO), pointed out the company's unique position to cater to the high demand for Asia-specific threat intelligence, which is crucial for clients worldwide.
A promising future backed by robust investment
The Series A funding round was led by Korea Investment Partners, with additional support from Hibiscus Fund, a joint venture between RHL Ventures, Penjana Kapital, and KB Investment, as well as Smilegate Investment. This substantial investment underscores the market's confidence in StealthMole's innovative approach to cybersecurity and its potential to make significant strides in the global fight against cybercrime.
StealthMole's strategy revolves around leveraging its access to 255 billion analyzed data points from the dark web, deep web, and various hidden sources. This massive dataset includes leaked databases, blogs maintained by cyber criminals, and channels on platforms like Telegram, providing a comprehensive view of the digital threat landscape.
With its focus on expanding R&D centres and enhancing its technological offerings for the B2B sector, StealthMole is poised for further growth and innovation in the cybersecurity domain, especially in addressing the nuanced challenges presented by cyber threats in Asia and beyond.
