Former Austrian Chancellor Sebastian Kurz and Israeli entrepreneurs have launched a cybersecurity company that is now worth$ 1.1 billion after receiving another$ 100 million in a new funding round.
The business known as Dream, which was founded in January 2023, describes itself as an AI-focused organization that assists governments and crucial infrastructure against cyberattacks.
In a statement, Dream said a$ 100 million Series B round led by Bain Capital Ventures meant the business now had a$ 1.1 billion valuation. More buyers in the business include Group 11, Tru Arrow, Tau Capital and Aleph, it said.
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Since its founding, Dream said it has earned more than$ 130 million in annual revenue in 2024 to governments and national security companies.
The company, which Kurz founded with Shalev Hulio, the former CEO of Israeli spyware strong NSO Group, and computer analyst Gil Dolev, has offices in Tel Aviv, Vienna and Abu Dhabi.
Kurz, a liberal, became one of the youngest leaders in the world when in 2017 he became president aged 31 at the head of a partnership with the far-right Freedom Party.
He fell from power in 2021, and last year a jury in Vienna convicted him of dishonesty over a social row, handing him an eight-month suspended jail sentence, which he is appealing.
( Reporting by Pritam Biswas in Bengaluru, Writing by Dave Graham, Editing by Mrigank Dhaniwala and Hugh Lawson )