Alethea has successfully completed a $20 million Series B funding round. The round was led by GV, with contributions from Ballistic Ventures, the leader of Alethea's Series A funding in 2022, and Hakluyt Capital, a firm known for its investments in high-growth companies with global aspirations. This influx of capital, bringing Alethea's total funding to $34 million, underscores the confidence investors have in the company's mission to enhance digital security.
Lisa Kaplan, Founder and CEO of Alethea, expressed the urgency of the situation, stating, "Companies' biggest vulnerabilities today lie outside of their own systems. We built our Artemis product to move organizations from passive listening to active risk management." Artemis, Alethea's flagship product, is at the forefront of early warning systems for security risks, leveraging AI to detect and mitigate disinformation, cyber attacks, and influence operations.
The Series B investment will fuel Alethea's growth in sales and marketing, team expansion, and the enhancement of Artemis' features to address evolving challenges faced by companies with an online presence.
Karim Faris, General Partner at GV, praised Alethea's approach, saying, "The rapid acceleration of artificial intelligence creates a more urgent need for Alethea's technology. We're excited to support Lisa Kaplan and the entire team as they protect the bottom lines of Fortune 500 companies in the new AI-driven social information era."
Ted Schlein, Co-founder and General Partner at Ballistic Ventures, highlighted the significance of the threat, stating, "Disinformation is the new malware – yet a far more insidious threat to corporations, individuals, and our open democracy. Our continued investment in Alethea underscores our confidence in their innovative approach."
In addition to its funding success, Alethea has made headlines with a groundbreaking report on Russia's new disinformation tactics aimed at interfering in the U.S. elections. The report, which was exclusively covered by The New York Times, reveals a network of accounts and websites that are believed to be working on behalf of Russia's main military intelligence directorate, the GRU. This network, using a tactic dubbed "Invisible Ink" by Alethea, seeks to divide Americans and amplify Russian propaganda, particularly counter-Ukraine messaging, ahead of the 2024 U.S. Presidential Election.