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

Hidden MoleThe AI-powered dark web intelligence startup specializing in cyber threat monitoring and cyber crime detection announced Thursday that it has raised a $7 million Series A funding round.

The Singapore-based startup with an R&D office in South Korea will use the fresh capital to determine additional R&D centers and support more business applications of its technology in the B2B sector and geographic expansion.

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

StealthMole was founded in 2022 by Louis Hur (CEO), an enterprise IT security expert and serial cybersecurity entrepreneur, and Choi (CTO), a threat researcher and open source intelligence (OSINT) profiler who previously worked as Advisor for South Korea’s National Intelligence Service, National Police Agency and South Korea’s Ministry of National Defense.

The startup serves over 50 clients in 17 countries in Asia, Europe and the Middle East. Its current client base primarily consists of presidency and law enforcement agencies with enterprise national security and cybersecurity teams that manage cybersecurity incidents, analyze threats, and supply cybersecurity guidance and support.

“StealthMole was founded in response to a critical market gap I encountered while working in cybersecurity and white hat hacking: a severe lack of data points and information networks, particularly in Asia,” Hur said in an organization statement. “At the same time, data breaches, anonymous transactions and cybercrimes of all kinds have increased dramatically – both due to malicious intent and human error. To better understand digital threats, law enforcement, intelligence agencies, corporate security teams and cybersecurity experts must analyze the regional context and its impact on illicit activity.”

The team claims to trace criminals using 255 billion analyzed data points from the dark web, deep web and various hidden sources, including leaked databases, cyber criminals’ blogs and Telegram.

One of the things that sets the corporate aside from cybersecurity competitors is its unique expertise in Asian threats, Kevin Yoo, chief operating officer (COO) at StealthMole, told TechCrunch. According to Check Point Research report, In the primary quarter of 2023, Asia saw the biggest year-on-year increase in weekly cyberattacks because of rapid digital transformation; the rise of hybrid employees and Asian manufacturing industries, corresponding to semiconductors which are subject to mental property, could turn out to be targets for cyber espionage.

“The high demand for Asia-focused threat intelligence highlights the uniqueness and value of our dataset to customers around the world, in Asia and beyond,” Yoo said.

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