LetsData raises $1.6M to combat disinformation and synthetic identities
LetsData, the real-time security radar protecting corporations and governments from the threats of information operations and synthetic identities, has raised a $1.6 million pre-seed round from SMOK Ventures, Wayra, the innovation hub of Telefónica, Tilia Impact Ventures (supported by InvestEU Fund), 1991 Ventures, Google’s Ukraine Support Fund, and Startup Wise Guys.
Serial entrepreneurs Pavla Bobosikova (CEO and Co-Founder at WFHomie – acquired by GoCo) and Marty Krátký-Katz (CEO and Co-Founder at Blockthrough – acquired by eyeo) were also part of a group of angel investors in the round. LetsData’s technology is trusted by the FCDO, UK Embassies, and the Armed Forces of NATO member states as well as corporations across the US, UK, and Europe.
Earlier this year, LetsData was selected for the Google for Startups Growth Academy: AI for Cybersecurity programme, gaining access to Google’s tools and partners to support its growth efforts. Attaining $1 million ARR after two successful years of bootstrapping, this new funding round will enable LetsData to further scale its technology and expand its presence in the United States and Europe to meet demand.
Existing solutions for detecting coordinated information operations fall short of addressing the sophisticated threats that organisations face today. Working with a government client, LetsData’s technology uncovered a botnet reposting information operations from an EU-sanctioned Russian news outlet at an alarming rate of 86 times per second across social media and fake news sites. The LetsData algorithm identified the pattern as malicious and alerted the client containing a threat report, enabling them to take immediate action.
LetsData’s AI model processes open-source data across over 100 million websites and social media outlets, covering more than 50 languages and regions. It analyses text and video metadata from media across platforms like Telegram, YouTube, and TikTok. The solution employs semantic understanding to group and link content across sources, identifying intent and coordination behind information operations. By doing so, LetsData detects 80% more threats at their inception than conventional tools.
LetsData’s mission is to integrate actionable threat intelligence into organisations’ workflows, empowering them to mitigate risks before reputational damage, cyberattack or operational disruption occurs. The tool is already gaining traction among governments, financial institutions, and private enterprises seeking robust InfoOps management.
Ksenia Iliuk, Co-Founder of LetsData said: “LetsData began as a bootstrapped venture during the onset of Russia's invasion of Ukraine, when we saw a spike in demand from companies and governments requiring advanced InfoOps detection. Typically, organisations rely on understaffed teams or communications departments that are ill-equipped to handle these kinds of threats. LetsData bridges this gap by providing a security-first approach to InfoOps, enabling clients to act on alerts from day one of onboarding without the need for complex training or resource-intensive processes. Our ambition is to become the industry standard for InfoOps detection and disrupt the industry by delivering actionable intelligence that empowers organisations to respond swiftly and effectively.”
Borys Musielak, Founding Partner at SMOK Ventures said: “I loved how Ksenia and Andriy bootstrapped their way to profitability without even raising external funding. Their technology is already helping to stop the information operations and with a growing list of high-value clients, our investment will help support them as they scale to meet the increasing demand for advanced InfoOps protection.”
Gonzalo Pérez, Head of Investments at Wayra Germany said: “Existing tools to combat information operations, specifically manipulation and synthetic identities simply can’t keep up with the complex, real-world challenges businesses face today. Threat actors are only increasing in sophistication to find new ways of disrupting organisations and manipulating public opinion. That’s why we are so excited to be supporting LetsData, whose proprietary technology effectively identifies and combats coordinated and widespread information operations.”
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