Austrian ex-chancellor Kurz’s cybersecurity firm says reaches $1 billion valuation.

A cybersecurity business launched by former Austrian Chancellor Sebastian Kurz and entrepreneurs in Israel said it is now worth $1.1 billion after receiving another $100 million in a new funding round.

Founded in January 2023, the company known as Dream describes itself as an AI-focused firm that helps protects governments and critical infrastructure against cyber attacks.

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. Additional investors in the company include Group 11, Tru Arrow, Tau Capital and Aleph, it said.

Dream said that since its founding it has racked up more than $130 million in annual sales in 2024 to governments and national cybersecurity organizations.

The firm, which Kurz founded with Shalev Hulio, the former CEO of Israeli spyware firm NSO Group, and cyber expert Gil Dolev, has offices in Tel Aviv, Vienna and Abu Dhabi.

Kurz, a conservative, became one of the youngest leaders in the world when in 2017 he became chancellor aged 31 at the head of a coalition with the far-right Freedom Party.

Source: FINANCE.YAHOO