News
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.
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