Key facts
- Former Austrian Chancellor Sebastian Kurz co-founded the AI cybersecurity startup DREAM.
- DREAM announced $260 million in Series C funding, reaching a $3 billion valuation.
- The startup uses AI trained by cybersecurity experts to defend against state-sponsored cyberattacks.
- Key investors include Bicycle Capital, Group 11, and Bain Capital.
- DREAM has generated $300 million in revenue and achieved profitability this year.
- The company aims to make governments more independent in their cybersecurity defenses.
Sebastian Kurz, Austria's youngest former chancellor, has transitioned into the tech industry, co-founding the AI cybersecurity startup DREAM. The company announced a $260 million Series C funding round, bringing its valuation to $3 billion. DREAM focuses on developing AI-powered solutions to help governments and critical infrastructure defend against sophisticated cyberattacks, particularly those sponsored by states like China, Russia, Iran, and North Korea.
Founded three and a half years ago by Kurz and Israeli cybersecurity expert Shalev Hulio, DREAM aims to create independent cybersecurity capabilities for nations, reducing reliance on major global powers. Hulio, who previously co-founded NSO Group, oversees the technology development, while Kurz, known for his rapid political ascent, brings his ambition and strategic vision to the company. DREAM has generated approximately $300 million in revenue to date and achieved profitability this year with a workforce of around 350 employees.
The company is planning to expand its operations into Abu Dhabi and establish a research and development center in Germany. While an IPO is considered a realistic option, the founders are currently focused on growth and expansion. The blend of Israeli and Western European business cultures is seen as a competitive strength, with Kurz's disciplined approach complementing Hulio's technical genius.