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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
Investigation Underway After Goa Nightclub Fire Kills at Least 25
Authorities in the Indian state of Goa have opened an investigation into a nightclub fire that killed at least 25 people, including several tourists, in one of the region’s most popular party districts. Six others were injured in the blaze, which broke out shortly after midnight in Arpora, a nightlife hub about 25 kilometres from the state capital, Panaji.
Goa Chief Minister Pramod Sawant confirmed the death toll in a statement posted on X, saying the victims included many of the club’s kitchen staff and a small number of visiting tourists. He added that all the injured were in stable condition and receiving medical treatment. Rescue teams recovered all bodies from the site.
Early reports from local police, cited by the Press Trust of India, indicated that a gas cylinder explosion triggered the fire. Witnesses, however, told the agency that the blaze appeared to start on the club’s first floor, where nearly 100 tourists were dancing at the time. As smoke and flames swept through the building, many people ran toward the lower floor, where they became trapped along with staff members.
Sawant said a formal inquiry would determine the exact cause and whether the club complied with fire safety regulations. He pledged strict action against anyone found responsible, writing on X that any negligence uncovered by investigators would be “dealt with firmly”.
Eyewitnesses described scenes of panic as patrons attempted to flee the burning building. “We rushed out of the club only to see that the entire structure was up in flames,” said Fatima Shaikh, who was inside when the fire began.
Prime Minister Narendra Modi offered condolences in a message on X, calling the incident “deeply saddening” and wishing the injured a swift recovery.
Local media reported that the club’s location along the Arpora River backwaters posed challenges for emergency crews. A narrow approach road forced fire engines to park about 400 metres from the entrance, slowing their response. Reports also revealed that the building had previously received a demolition notice after officials found it lacked a construction permit. That order was later withdrawn by senior state authorities, according to Arpora councillor Roshan Redkar.
Incidents involving gas cylinders and electrical faults are not unusual in India and often lead to heavy casualties, prompting renewed calls for stronger enforcement of safety standards. Opposition leader Rahul Gandhi criticised the tragedy as a “criminal failure of safety and governance” and urged a transparent investigation to establish accountability and prevent future disasters.
The probe into the fire is expected to assess structural safety, emergency exits and compliance with existing regulations as authorities work to piece together how the late-night gathering turned into one of the deadliest incidents in the state in recent years.
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