Chinese cyber-espionage campaigns frequently coincide with territorial disputes.
Previous research into Gamaredon determined that hackers included Russian phrases that, when translated into English, insulted Americans.
Targets included the foreign ministries in at least three countries, as well as Stanford University.
The identity of the hackers responsible remains elusive, though the phishing targets in China and the IP addresses involved indicate a coordinated effort, researchers from Anomali said.
While data is being illicitly sold, it was not necessarily illicitly obtained, as voter records are in many cases public records.
CEO Hugh Njemanze says the raise will fuel expansion into new markets in 2018.