Dream Security, an Israeli firm specializing in AI-based cybersecurity protection for government agencies, large corporations, and critical infrastructures, has successfully completed a $33.6 million financing round, bringing its valuation to $200 million, the Wall Street Journal reports. The former Austrian Chancellor Sebastian Kurz holds a significant 20% stake in the company.
Sebastian Kurz’s Involvement:
Dream Security (website) was founded by Shalev Hulio and his partners. Hulio was previously the CEO of the NSO Group, which is behind the infamous cyber espionage software Pegasus. He had to resign because the NSO Group was blacklisted in the U.S. under his leadership in 2021. Kurz is to use his political connections to ensure that Dream Security gains access to potential customers.
- Initial Shareholding: Originally holding a third of Dream Security‘s shares, Kurz, a co-founder alongside former NSO Group CEO Shalev Hulio and Gil Dolev, now retains approximately 20% of the shares following the recent financing round.
- Ongoing Investigations: Kurz, who is currently under investigation by a parliamentary committee in Vienna on suspicions of making false statements, has resigned from his position as Chancellor. He faces a potential three-year prison sentence if convicted.
Financing Round Details:
- Led by Aleph and Group 11: The financing round was spearheaded by existing investors Aleph, with founding partner Michael Eisenberg, and Dovi France’s Group 11.
- Symbolic Signing: Shalev Hulio, amidst his service in the army reserves and a challenging economic climate, highlighted the symbolic nature of the financing round. The deal was notably signed at the Gaza border while Hulio was in military uniform.
- Initial Funding: Dream Security raised $20 million in its pre-seed round last year, attracting investors like Adi Shalev, Noam Lanir, and notable Israeli cyber entrepreneurs Yevgeny Dibrov, Nadir Izrael, and Assaf Hefetz. Assaf Rapaport also joined as an investor in the current round.
About Dream Security:
- Cybersecurity Solutions: The company offers a suite of products for comprehensive cyber threat assessment and real-time dynamic threat response, utilizing complete automation without requiring hardware or software installation.
- Diverse Clientele: Dream Security‘s clients include major entities in Europe and Asia, covering sectors like government, justice, and critical infrastructures such as ports and refineries.
- Workforce Dynamics: The company employs 70 people, with 60 based in Israel. Due to the war, 10% of its workforce, including Hulio, has been mobilized by the army reserves.
- Support to Israeli Hospital: In response to cyberattacks on Israeli hospitals during the war, Dream Security volunteered its platform to a hospital in need, free of charge.
- Business Continuity: Despite the hesitation from foreign investors, Dream Security continues to operate as usual, with Jewish funds showing interest in investing in Israel.
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FinTelegram News is actively seeking information from whistleblowers who may have insights into the investment activities of former Austrian Chancellor Sebastian Kurz. We are particularly interested in gathering details about his involvement in various business ventures, including his significant shareholding in the Israeli cybersecurity firm, Dream Security.
