S2W

What S2W does

S2W Co., Ltd. is a South Korea-based AI-powered data intelligence company specializing in cyber threat intelligence, founded in 2018 and listed on KOSDAQ in September 2025. Its product platform spans four core offerings built on Multi-Domain Cross-Analysis Technology: SAIP (domain-specific ontology and knowledge graph platform), QUAXAR (comprehensive Cyber Threat Intelligence platform integrating Digital Risk Protection, Threat Intelligence, and Attack Surface Management), XARVIS (AI-powered cybercrime intelligence platform monitoring dark web, Telegram, and social media), and EYEZ (virtual asset/blockchain intelligence). The proprietary AI stack is anchored by DarkBERT, the world's first dark web-specialized language model trained on a 5.83GB corpus and published at ACL 2023 in collaboration with KAIST, complemented by DarkCHAT (generative AI for natural-language dark web querying) and CyBERTuned.

S2W serves government agencies and large enterprises across Korea, Japan, Taiwan, Saudi Arabia, Greece, Indonesia, Singapore, and beyond. Its customer base is anchored by national security and cybersecurity agencies (Presidency of State Security and Central Bank of Saudi Arabia via TrustLink; Japanese government with a 3.5x contract expansion; Greek, Indonesian, and Singapore government agencies) and supplemented by enterprise customers including ASUS, Evergreen Marine, Radiant Opto-Electronics, Lotte Members, and Hyundai Steel. The TALON threat analysis team, staffed by alumni of Korean law enforcement and financial security agencies, provides professional services including incident response, penetration testing, and Request for Intelligence.

Revenue is generated through SaaS platform subscriptions, professional services, AI data consulting, and technology licensing (notably DarkBERT integration into Microsoft Copilot for Security and Exabeam's New-Scale Security Operations Platform). Distribution combines direct enterprise field sales with strategic partnerships (INTERPOL Gateway Initiative, Microsoft, Exabeam, TrustLink, CHT Security, CJ OliveNetworks, RS Group, China Telecom Security). The company plans to establish a Japan subsidiary in H1 2026 to formalize its presence in that market following the 3.5x contract expansion with Japanese government agencies.

Name

S2W

Legal name

S2W Co., Ltd.

Website

https://s2w.inc

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

51–100 employees

Short description

S2W is a South Korean AI-powered cybersecurity data intelligence company that provides cyber threat intelligence, dark web monitoring, and virtual asset tracking platforms to government agencies and large enterprises globally, anchored by its proprietary DarkBERT language model.

Ownership category

akta.pro rank

Product category

Cybersecurity & Cyber Threat Intelligence

NAICS

Computer Systems Design and Related Services (5415), Security Systems Services (except Locksmiths) (561621), Other Computer Related Services (541519)

SIC

Services-Computer Integrated Systems Design (7373), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro industry

PRIMARYHDADAGAE

Security Analytics & Detection Engineering

Hardware, Technology & Telecom/Cybersecurity/Security Operations & Threat Intelligence (SIEM/SOAR/UEBA)

SECONDARYHDADAHAC

Attack Surface Management (EASM/CAASM)

Hardware, Technology & Telecom/Cybersecurity/Vulnerability & Exposure Management (VM, ASM, BAS)

SECONDARYHDADAHAJ

Third-Party & Supply Chain Exposure Monitoring

Hardware, Technology & Telecom/Cybersecurity/Vulnerability & Exposure Management (VM, ASM, BAS)

Keywords

• Cyber threat intelligence
• Dark web monitoring
• Security analytics platform
• Virtual asset tracking
• AI security solutions

Headquarters

HQ city

Seongnam

HQ country

South Korea

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. SaaS Platform Subscriptions: Annual or multi-year subscriptions for access to AI-powered intelligence platforms including QUAXAR, XARVIS, SAIP, and EYEZ. Pricing varies by organization size, data volume, and feature tier.
2. Professional Services: Incident response services operated by TALON threat analysis team for urgent security incidents. Includes malware analysis, vulnerability analysis, brand threat analysis, and expert-led penetration testing.
3. Request for Intelligence (RFI): Short-term intelligence analysis services providing malware analysis, vulnerability analysis, and brand threat element analysis from security experts.
4. AI Data Consulting: AI data operation consulting for efficient data management in enterprises and organizations, leveraging ontology and knowledge graph technology.
5. Technology Licensing: Licensing of proprietary AI models and technology including DarkBERT integration into Microsoft Copilot for Security and Exabeam security operations platform.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels10 records

Core offering

S2W is an AI-powered data intelligence company that builds and sells cybersecurity analytics platforms for monitoring covert channels (dark web, Telegram, social media) and tracking cyber threats. Its core offerings include the QUAXAR cyber threat intelligence platform, XARVIS cybercrime intelligence platform, EYEZ virtual asset intelligence solution, and SAIP domain-specific ontology platform, all underpinned by the proprietary DarkBERT language model. The company serves government agencies and large enterprises globally with subscriptions to these platforms plus professional services for incident response, penetration testing, and threat analysis.

Product overview

S2W is an AI-powered data intelligence company that provides a platform-plus-products architecture centered around multi-domain cross-analysis technology. The core product portfolio includes SAIP as a domain-specific ontology platform for operational decision-making, QUAXAR as a comprehensive cyber threat intelligence platform integrating DRP, TI, and ASM capabilities, XARVIS as an AI-powered cybercrime intelligence platform for dark web and Telegram monitoring, and EYEZ as a virtual asset intelligence solution for blockchain transaction tracking. These products share underlying AI capabilities including the proprietary DarkBERT language model specialized for dark web analysis, and share data through cross-analysis features. The portfolio is complemented by professional services including penetration testing, incident response, AI data consulting, and threat intelligence reporting through the TALON team.

Differentiator

Problem solved

Functional benefit

Products and services

• SAIP (Semantic AI Platform) Domain-Specific Ontology Platform that transforms expert knowledge into a formal ontology and constructs a connected knowledge graph for operational decision-making. Enables organizations to build domain-specific AI systems, supports semantic reasoning, root-cause analysis, alternative evaluation, and outcome prediction. Used by enterprises for knowledge management and AI-driven decision support.
• QUAXAR Comprehensive Cyber Threat Intelligence (CTI) Platform that integrates Digital Risk Protection (DRP), Threat Intelligence (TI), and Attack Surface Management (ASM) into a unified solution. Monitors dark web, Telegram, and hidden channels for credential and data exposure, brand impersonation, phishing, and brand-targeted threats. Designed for government agencies and large enterprises to detect and respond to external cyber threats.
• XARVIS AI-powered Cybercrime Intelligence Platform that collects and refines threat data from anonymous channels including dark web, Telegram, and social media. Provides graph analysis, user profiling, cryptocurrency tracing, and GeoTrace capabilities for tracking cyber incidents and monitoring scam-related activity. Powers national security and investigative work.
• EYEZ Virtual Asset Intelligence Solution that combines ledger tracking on large-scale blockchain transaction data with security threat information from dark web reputation data and public institution sanction information. Enables analysis of association and flow of security threats and related illegal virtual assets.
• TALON Threat Analysis Service Global threat analysis group that operates an incident response center and provides threat analysis expertise. Comprises analysts from National Police Agency, Financial Security Institute, Korea Financial Telecommunications & Clearings Institute, and Korea Internet & Security Agency (KISA).
• Incident Response Service

Quantifiable outcome

• Contributed to blocking 45,000+ malicious IP addresses during INTERPOL Operation Synergia III
• +3 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability9 records

Feature8 records

Partnerships

Nine partnerships are on record, tiered flagship, major, regional and academic.

• INTERPOLflagshipStrategic or Co-development PartnerOfficial partner since 2020 and first Korean company selected for Gateway Initiative (12th global partner). Connects S2W's AI capabilities with INTERPOL's Cyber Fusion Centre, distributing intelligence to 196 member countries. S2W contributed to Operation Synergia III, blocking 45,000+ malicious IPs.
• MicrosoftmajorTechnology or IntegrationParticipant in Microsoft Copilot for Security Partner Ecosystem. DarkBERT integrated into Microsoft's generative AI security platform. S2W shapes Copilot for Security by refining scenarios, offering feedback, and validating APIs.
• ExabeammajorTechnology or IntegrationStrategic partnership integrating S2W's proprietary threat intelligence into Exabeam's New-Scale Security Operations Platform. Provides global corporate clients with advanced security services including early fraud detection and compliance automation.
• China Telecom Security (CTTHS)regionalStrategic or Co-development PartnerMOU signed for strategic cooperation in cybersecurity and data intelligence, expanding S2W's presence in the Chinese market.
• RS Group (Royal Sumatra Group)regionalStrategic or Co-development PartnerStrategic partnership in big data analytics, generative AI, and AI security technologies. Leverages RS Group's business network across defense, medical devices, and real estate sectors for B2B market opportunities in Indonesia and ASEAN.
• CHT Security (ChungHwa Telecom)regionalChannel Partner/ Reseller/ DistributorPartnership with leading Taiwan security firm under ChungHwa Telecom for strategic distribution. Leverages CHT's position as major telecom provider for market access.
• CJ OliveNetworksregionalChannel Partner/ Reseller/ DistributorStrategic partnership for Enterprise AX (AI-powered cybersecurity solutions) in Korean market.
• TrustLinkmajorChannel Partner/ Reseller/ DistributorSaudi Arabian data analytics and cybersecurity company. Global supply agreement for S2W's AI platform for national security, serving institutions including Presidency of State Security, Ministry of Foreign Affairs, and Central Bank of Saudi Arabia.
• KAISTacademicStrategic or Co-development PartnerCollaboration with KAIST Dark Web research team for development of DarkBERT, the world's first Dark Web-specialized AI language model. Published at ACL 2023.

Scale indicators8 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• Flashpoint: Flashpoint delivers threat intelligence, vulnerability management, and dark web data. Directly competes with S2W's QUAXAR and EYEZ (virtual asset intelligence) products across enterprise CTI buyers.
• KELA: KELA is a dark web intelligence company offering automated threat intelligence, credential monitoring, and dark web data collection. Closest direct competitor to S2W's dark web-focused XARVIS and DarkBERT capabilities.
• Mandiant (Google Cloud): Mandiant (now part of Google Cloud) is a leader in cyber threat intelligence and incident response, offering comparable intelligence, dark web monitoring, and government-focused capabilities. Direct overlap with S2W's TALON incident response and CTI platform offerings.
• Recorded Future: Recorded Future is the largest pure-play threat intelligence platform, acquired by Mastercard for $2.6B. It directly competes with S2W's QUAXAR and XARVIS across dark web monitoring, attack surface management, and government-grade CTI.
• Group-IB: Group-IB is a Singapore-headquartered threat intelligence and fraud prevention company with strong APAC government presence. Comparable to S2W in targeting regional law enforcement and large enterprises for CTI and fraud investigations.
• DarkOwl: DarkOwl is a darknet data provider offering searchable dark web intelligence and continuous monitoring. Directly comparable to S2W's dark web data collection layer underlying XARVIS and DarkBERT.

Emerging players

• ThreatConnect: ThreatConnect offers a threat intelligence platform with SOAR and analytics capabilities. Comparable to S2W's QUAXAR for enterprise security teams needing to operationalize threat intelligence.
• ZeroFox: ZeroFox specializes in external threat protection including dark web monitoring, social media, and digital risk. Partial overlap with S2W's QUAXAR Digital Risk Protection module and XARVIS social/Telegram monitoring.

Broad incumbents

• CrowdStrike: CrowdStrike is a leading endpoint and broader security platform with embedded threat intelligence (Falcon Intelligence). Competes with S2W as part of a much wider security portfolio rather than specializing in CTI.

Regional players

• AhnLab: AhnLab is a leading Korean cybersecurity vendor offering endpoint, network, and threat intelligence solutions. Competes with S2W in the Korean domestic market and serves as a regional alternative for enterprise buyers.

Market position

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/s2w_official
• YouTubeyoutube.com/@s2winc
• Facebookfacebook.com/S2WLAB
• LinkedInlinkedin.com/company/s2winc

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds3 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about S2W