DMR News

Advancing Digital Conversations

StealthMole secures $7 million in Series A funding for its great artificial intelligence-driven platform that monitors the dark web.

ByYasmeeta Oon

Apr 21, 2024
StealthMole secures $7 million in Series A funding for its artificial intelligence-driven platform that monitors the dark web.

StealthMole secures $7 million in Series A funding for its great artificial intelligence-driven platform that monitors the dark web.

Singapore and Seoul, Thursday – In a significant boost to the global fight against cybercrime, StealthMole, a pioneering dark web intelligence startup, has successfully closed a $7 million Series A funding round. The Singapore-based company, renowned for its AI-powered platform that monitors cyber threats and cybercrime activities, is poised to expand its R&D capabilities and enhance its commercial offerings in the B2B sector across new geographical territories.

The infusion of fresh capital marks a pivotal moment for StealthMole, enabling it to solidify its position in the cybersecurity landscape. Plans are already underway to establish additional research and development centers, building on the startup’s current R&D presence in South Korea. This strategic move is designed to broaden the technological capabilities of StealthMole, ensuring that its innovative solutions meet the evolving needs of businesses worldwide.

Simon Choi, the Chief Technology Officer at StealthMole, shared insights into the company’s operational strategy, highlighting the significance of its R&D office in South Korea. “Our presence in South Korea offers us invaluable insights into the operational tactics of East Asian hackers,” Choi explained. He further emphasized the importance of diversity in the company’s research team, noting that having experts from various regions, including Singapore and other strategically chosen locations, enhances their ability to analyze data and understand the cybercrime landscape in neighboring countries.

Founded in 2022 by Louis Hur, a seasoned enterprise IT security expert and serial entrepreneur, and Simon Choi, a threat investigator with a rich background in open-source intelligence, StealthMole has rapidly emerged as a leading force in cybersecurity. The company boasts a diverse client base spanning over 50 clients across 17 countries, including government and law enforcement agencies as well as corporate security teams.

Louis Hur, CEO of StealthMole, shared the inspiration behind the company’s formation, pointing to a critical gap in the cybersecurity market. “The inception of StealthMole was driven by a pressing need for more comprehensive data points and information networks, especially within Asia,” Hur stated. He highlighted the increasing challenges posed by data leaks, anonymized transactions, and cybercrimes, underscoring the importance of regional context in understanding digital threats.

StealthMole differentiates itself through its specialized focus on Asia-related threats, a niche that has seen burgeoning demand due to the region’s rapid digital transformation and the rise of a hybrid workforce. Kevin Yoo, Chief Operating Officer at StealthMole, pointed out the company’s unique position in the market. “Our expertise in Asia-oriented threats provides unparalleled value to our clients, offering them insights that are critical in navigating the complex cyber threat landscape,” Yoo commented.

The startup’s approach to cybersecurity is backed by an extensive database, analyzing 255 billion data points gathered from the dark web, deep web, and various hidden sources. This vast reservoir of information enables StealthMole to trace cybercriminals effectively, offering its clients a critical edge in cybersecurity.

The Series A funding round was led by Korea Investment Partners, with significant contributions from Hibiscus Fund—a joint venture between RHL Ventures, Penjana Kapital, and KB Investment—and Smilegate Investment. This financial milestone underscores the confidence of investors in StealthMole’s vision and its capacity to revolutionize the cybersecurity domain.

  • Series A Funding: StealthMole raises $7 million in a round led by Korea Investment Partners.
  • Expansion Plans: Funds to be used for establishing additional R&D centers and expanding commercial offerings.
  • Unique Positioning: Specialized focus on Asia-related cyber threats sets StealthMole apart in the cybersecurity industry.

As StealthMole embarks on this new phase of growth, the company remains committed to its mission of advancing cybersecurity measures and safeguarding digital assets across the globe. With its strategic expansion plans and focus on technological innovation, StealthMole is well-positioned to lead the charge against cybercrime, offering peace of mind to businesses and government agencies alike.

The journey ahead for StealthMole is filled with promise and potential, as it leverages its Series A funding to reach new heights in cybersecurity excellence. The global community watches with anticipation as StealthMole continues to redefine the standards of digital safety and security in an increasingly interconnected world.

Related News:

Featured Image courtesy of DALL-E by ChatGPT

Yasmeeta Oon

Just a girl trying to break into the world of journalism, constantly on the hunt for the next big story to share.

Leave a Reply

Your email address will not be published. Required fields are marked *