Former Austrian Chancellor Sebastian Kurz, along with entrepreneurs in Israel, has successfully launched a cybersecurity business valued at $1.1 billion following a $100 million injection of funds. Established in January 2023, the company, named Dream, specializes in AI technology aimed at safeguarding governments and critical infrastructure from cyber threats.
Dream announced that the recent $100 million Series B funding round, led by Bain Capital Ventures, contributed to the company's current valuation. Noteworthy investors in the venture also include Group 11, Tru Arrow, Tau Capital, and Aleph. Since its inception, Dream has generated over $130 million in annual sales by 2024, primarily catering to governments and national cybersecurity entities.
The company, co-founded by Kurz, the former CEO of NSO Group (an Israeli spyware firm), and cyber expert Gil Dolev, operates from offices located in Tel Aviv, Vienna, and Abu Dhabi. Kurz, who became one of the youngest global leaders in 2017 at the age of 31, led a coalition government with Austria's far-right Freedom Party. Following legal issues in 2021, Kurz was convicted in 2022 of offenses related to a political conflict, resulting in an eight-month suspended prison sentence which he is currently appealing.