Sebastian Kurz went from Austria's youngest chancellor to building a $3 billion AI cybersecurity startup

Sebastian Kurz, Austria’s former chancellor, has helped build DREAM into a $3 billion AI cybersecurity company after founding it three-and-a-half years ago with Israeli entrepreneur Shalev Hulio. The startup announced a $260 million Series C funding round led by Bicycle Capital and Group 11, with participation from Bain Capital, Tru Arrow Partners, investor James Rothschild, Norway’s Antler and others. DREAM says it has generated roughly $300 million in revenue to date, reached profitability this year and employs around 350 people.

"When we started this company from scratch three and a half years ago, we had no way of knowing whether it would work," Kurz said. "Now we're incredibly happy that we get to keep building it."

From government to private sector: mission and product

Kurz and Hulio built DREAM to marry elite hacking expertise with artificial intelligence aimed specifically at defending governments and critical infrastructure. The company has developed an AI model "purpose-built for cybersecurity" and a platform designed to detect and stop state-sponsored cyberattacks before they can compromise government systems, healthcare networks, and other critical services.

• Leadership: Sebastian Kurz (cofounder) and Shalev Hulio (cofounder, oversees technology)
• Funding: $260 million Series C; valuation $3 billion
• Investors: Bicycle Capital, Group 11, Bain Capital, Tru Arrow Partners, James Rothschild, Antler, among others
• Financials and scale: roughly $300 million in revenue, profitable this year, ~350 employees
• Geographic reach: expanding across Europe, the Middle East, and Southeast Asia; plans to grow in Abu Dhabi and open an R&D centre in Germany

Threat landscape and competitive positioning

Hulio — who previously cofounded and led NSO Group, the company behind Pegasus spyware — framed the threat landscape in stark terms, saying "Most of the attacks we've been able to prevent originated from China, Russia, Iran, and North Korea." He added that "China is building AI-powered attack capabilities" while "Russia relies on large-scale phishing campaigns."

Hulio emphasized DREAM’s strategic differentiator: sovereign control. "Countries shouldn't have to depend on either the US or China," he said. "We build solutions that governments own, operate, and control themselves. Their data never has to be uploaded to the cloud, and it's never shared with anyone." That pitch is aimed at governments and agencies seeking on-premises or sovereign-controlled cyberdefence that keeps data local.

Outlook: growth, IPO and global expansion

The founders say expansion, not celebration, is the immediate priority. DREAM plans to scale operations in Abu Dhabi and establish a research and development centre in Germany; Hulio noted a practical requirement for site selection: "For us, a direct flight to Tel Aviv is important." Kurz said an initial public offering remains "certainly an option — a very realistic option for a fast-growing company like ours."

Both founders stress national security implications as much as commercial success. Kurz framed the venture in geopolitical terms: "More important than our personal success is the value we can create for entire nations." As DREAM grows its customer base across Europe, the Middle East and Southeast Asia, the company will test the market for sovereign-first cybersecurity offerings amid rising AI-driven cyber threats.