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Tel Aviv-Based Cybersecurity Firm Dream Secures $100 Million in Funding, Valuation Hits $1.1 Billion
Israeli cybersecurity firm Dream has raised $100 million (€105 million) in a Series B funding round, bringing its valuation to $1.1 billion (€1.05 billion). The company, which specializes in AI-driven cyber defense solutions for governments, aims to detect and neutralize cyber threats before they materialize.
The funding round, announced on Monday, was led by Bain Capital Ventures, with additional backing from Group 11, Tru Arrow, Tau Capital, and Aleph. The fresh capital injection will accelerate the company’s expansion into new markets and enhance the development of its Cyber Language Model (CLM), a next-generation AI tool designed to counter evolving cyber threats.
Cybersecurity in an Age of Increasing Threats
Founded in January 2023, Dream has quickly established itself as a key player in the cybersecurity sector, particularly in government and national security contracts. In 2024 alone, the company generated more than $130 million (€124 million) in sales to governments and national cybersecurity organizations.
Sebastian Kurz, co-founder and President of Dream, emphasized the urgency of robust cyber defense strategies.
“Sophisticated cyber-attacks on critical infrastructure are increasing in both prevalence and complexity,” Kurz said in a statement.
“During my time as Prime Minister, I saw firsthand how these attacks can cause real human damage and have the potential to disrupt entire societies. By founding Dream, we are on a mission to empower nations against what I believe is the defining national security threat of our era.”
Kurz, the former Austrian Chancellor, founded Dream alongside entrepreneur Shalev Hulio and cyber expert Gil Dolev. The venture marks a major shift in Kurz’s career, following his resignation from government in 2021 amid corruption allegations.
A New Chapter for Sebastian Kurz
Kurz stepped down as Austria’s Chancellor in 2021 after facing accusations of misusing public funds for favorable media coverage. In February 2024, he was found guilty of lying under oath to parliament and received an eight-month suspended sentence. Kurz has called the ruling “very unfair” and has since launched an appeal.
Despite his controversial political exit, Kurz has rebranded himself in the tech and cybersecurity industry, leveraging his experience in governance to address national security threats in the digital age.
The Growing Demand for AI-Driven Cyber Defense
With cybercriminals increasingly deploying AI-powered attacks, experts stress that AI-based defenses are essential to counter deepfake scams, phishing campaigns, and sophisticated cyber espionage.
According to industry data cited by the World Economic Forum (WEF), the total cost of cybercrime has skyrocketed from $3 trillion (€2.9 trillion) in 2015 to $6 trillion (€5.7 trillion) in 2021. Analysts predict this figure will soar to $15.6 trillion (€14.9 trillion) by 2029.
The cybersecurity market is expanding in response. A McKinsey report estimates that global spending on cybersecurity products and services reached approximately $200 billion (€191 billion) in 2024.
Dream’s latest funding round will also bring in new board members, including Enrique Salem of Bain Capital Ventures and Shlomo Yanai, a board member at Philip Morris. They will join existing board members Dovi Frances, Michael Eisenberg, and Dream’s founding team.
As the AI arms race in cyber warfare intensifies, Dream aims to position itself as a key player in protecting national security interests worldwide.
News
Suspected Drone Strike Hits UK Base in Cyprus Amid Escalating Iran Conflict
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Cruise Passengers Stranded Amid Escalating Middle East Crisis
The Persian Gulf is currently characterised by hostilities. The Strait of Hormuz is closed to shipping, with only vessels connected to China or Russia allowed to pass. The escalating crisis in the region has left thousands of tourists stranded on cruise ships and disrupted air travel.
On Sunday afternoon, a missile struck the water near the Mein Schiff 4, operated by TUI Cruises, while the ship was docked in Abu Dhabi, United Arab Emirates. Clouds of black smoke were reported over the water, according to the Bild newspaper. The vessel carries approximately 2,500 passengers and 1,000 crew members, with many due to return to Germany from Dubai. The situation on board is tense, and it is not yet clear if anyone was injured.
Security measures on the ship remain strict. Passengers are prohibited from entering outside decks, are advised to avoid windows, and receive regular alerts on their smartphones about potential incoming missile threats.
A sister ship, Mein Schiff 5, berthed in Doha, Qatar, is also affected. Passengers attempting to fly home from Doha on Saturday were forced to return to the ship after flights were canceled. Many had already boarded aircraft and had to leave luggage at the airport, waiting around ten hours before being taken back to the ship in the evening.
Other cruise lines are similarly affected. Six vessels are currently docked across ports in Dubai, Abu Dhabi, and Doha. These include the MSC Euribia from MSC Cruises, the Celestyal Discovery and Celestyal Journey from Celestyal Cruises, and the Aroya from the Saudi operator Aroya Cruises.
The closure of airspace in multiple countries in the region has compounded the situation, preventing passengers from flying home. Thousands remain stranded, unsure when they will be able to continue their journeys or be evacuated safely.
The crisis follows US and Israeli strikes in the region on Saturday, which prompted retaliatory attacks by Iran targeting military positions in the Persian Gulf. Cruise passengers, many of whom expected a calm holiday, have instead faced a sudden escalation in regional tensions.
Authorities in ports and embassies are coordinating with shipping companies to maintain safety and provide updates, but the rapidly evolving security situation has made evacuation and travel plans uncertain. Tourists are advised to follow official guidance and avoid unnecessary movement on or around their vessels.
The disruption highlights the wider impact of escalating hostilities in the Gulf, affecting not only commercial shipping but also tourism and international travel. Passengers on affected cruise ships and flights face prolonged delays as authorities work to stabilize the situation and ensure safety in the region.
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Azerbaijan Commemorates Khojaly Massacre with New Memorial and National Ceremony
Azerbaijan held nationwide commemorations on Thursday to mourn the hundreds of civilians killed in February 1992 in the town of Khojaly during the Karabakh conflict with Armenia. President Ilham Aliyev led the ceremonies, inaugurating a new Khojaly Genocide Memorial Complex in Baku to honor the victims of what he described as “the greatest tragedy for the Azerbaijani people.”
Thousands of people gathered at the Khojaly Massacre Memorial in Baku for the National Day of Remembrance. A minute of silence was observed across the country as citizens paid tribute to those who lost their lives over 30 years ago.
Azerbaijani authorities state that 613 civilians, including women and children, were killed when Armenian forces, with the support of the former Soviet Union’s 366th Guards Motor Rifle Regiment, attacked Khojaly. Dozens more were reported missing or injured during the assault, which occurred amid the war between ethnic Armenian forces backed by Armenia and Azerbaijani troops over the Karabakh region and surrounding areas.
Human Rights Watch conducted its own investigation into the incident, attributing direct responsibility for the civilian deaths to Karabakh Armenian forces. Armenia has repeatedly denied the accusations, arguing that the reported death toll was exaggerated and that casualties resulted from fighting between the two sides.
Despite differing accounts, the Khojaly tragedy remains a deeply significant event in Azerbaijan’s collective memory. Commemorations continue to emphasize the human cost of the conflict and the impact on generations of Azerbaijanis.
This year’s ceremonies took place against the backdrop of a peace and reconciliation process between Azerbaijan and Armenia. Both nations have pledged to work toward a more stable and peaceful future following decades of conflict and suffering on both sides.
President Aliyev emphasized the importance of remembering the past while looking forward. The newly inaugurated memorial complex aims to provide a permanent site for reflection, ensuring that the victims of Khojaly are remembered by future generations.
The National Day of Remembrance has become a focal point for public reflection and national unity, drawing participants from across Azerbaijan. Observers note that the ceremonies serve both to honor the victims and to reinforce awareness of the historical and ongoing challenges in the Karabakh region.
Over 30 years after the massacre, Khojaly continues to hold a central place in Azerbaijani history. Thursday’s events highlighted the nation’s efforts to commemorate the past while supporting dialogue and cooperation with Armenia to foster lasting peace in the South Caucasus.
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