LetsData Funding News – Ukrainian-Based LetsData has raised $1.6M pre-seed round

LetsData processes open-source data from more than 100 million websites and social media platforms, spanning more than 50 languages and geographical areas, to identify and highlight false content on social media. It examines text and video information from media on websites such as YouTube, TikTok, and Telegram.

In order to determine the intent and coordination underlying information activities, its system then uses semantic understanding to organize and link content from various sources. In order to enable enterprises to reduce risks before they result in operational interruption, cyberattack, or reputational harm, the firm intends to incorporate actionable threat intelligence into their processes.

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The military forces of NATO member nations, US, UK, and European enterprises, and UK embassies all employ the technology.

Ksenia Iliuk, co-founder of LetsData, commented on the raise: “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, organizations 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 organizations to respond swiftly and effectively.”

Borys Musielak, founding partner at SMOK Ventures added: “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.”

About Letsdata

LetsData is a company that uses artificial intelligence (AI) to find and reduce threats from information operations (InfoOps). LetsData provides businesses and governments with technology to spot information threats early. This includes things like information manipulation, fake identities, and other dangers from cybercriminals, hostile countries, or competitors.