S2W targets broader industry, global expansion following IPO

S2W CEO Suh Sang-duk speaks during the company's press conference in Seoul, Tuesday. Courtesy of S2W

S2W, a big data analytics and artificial intelligence (AI) company, unveiled its global expansion roadmap Tuesday, ahead of its imminent initial public offering (IPO).

The firm has established expertise in collecting, processing and analyzing unstructured data from platforms like the dark web and Telegram, developing a range of solutions powered by cross-analysis technology that integrates various AI methods from multisource data collection to domain-specialized AI.

With its security big data platform XARVIS and cyberthreat intelligence platform QUAXAR, the company has been gaining significant attention in the national security and corporate security markets.

“S2W started out focusing on the dark web, but now has advanced our big data analytics technology that can be applied across many industries,” S2W CEO Suh Sang-duk said during a press conference in Seoul.

“We aim to become Asia’s leading intelligence company with multidomain AI analysis capabilities on par with Palantir.”

With the release last year of a new industry-specialized AI platform, SAIP, it has brought its multidomain cross-analysis technology to be applied to broader industries.

“Our multidomain cross-analysis technology, refined over years of R&D (research and development), collects and extracts key data from various domains and identifies their relationship, helping to refine organizations’ decision-making systems,” he said.

“Highly versatile and scalable technology that can be used across national and corporate security domains, along with industry-specific AI solutions, is our key strength.”

S2W will issue a total of 1.58 million shares in its upcoming IPO, with the share price to be determined after demand forecasting by institutional investors. The subscriptions will be open to the public for two days starting Thursday.

The company expressed ambitions to further expand its global business and build on its current 20 overseas partners in eight different countries, providing services to public sector businesses in Indonesia, Taiwan, Singapore and Japan. It has been partnering with Interpol since 2020 to provide its service to the international police organization.

“We plan to leverage references from public and government organizations worldwide to gain technical credibility before expanding into the private sector,” the CEO said.

He added that the IPO is a strategic step toward establishing financial and reputational foundations.

“We plan to establish local subsidiaries in Japan and Singapore to strengthen our branding and grow our overseas customer base,” he said.

“By 2027, we aim to build a global internet data center to secure infrastructure and expand our operations, becoming a truly world-class big data analytics AI company.”