Latest news with #CyberLanguageModel
Euronews
18-02-2025
- Business
- Euronews
AI firm founded by Austrian ex-Chancellor Kurz reaches unicorn status
Tel Aviv-based cybersecurity firm Dream, founded by Kurz alongside entrepreneur Shalev Hulio and cyber expert Gil Dolev, announced a funding round worth $100 million (€105m) on Monday, valuing the company at $1.1bn (€1.05bn). The Series B round was led by Bain Capital Ventures, while additional investors included Group 11, Tru Arrow, Tau Capital and Aleph. Founded in January 2023, Dream develops AI-driven cyber defence solutions for governments, seeking to identify and eliminate threats before they materialise. In 2024, Dream amassed more than $130m (€124m) in annual sales to governments and national cybersecurity organisations. "Sophisticated cyber-attacks on our critical infrastructure are increasing in both prevalence and complexity," Sebastian Kurz, co-founder and President of Dream, said in a statement on Monday. 'During my time as Prime Minister I saw first hand how these attacks can cause real human damage, and have the capacity to disrupt society at large. By founding Dream, we are on a mission to empower nations against what is the defining national security concern of our era," he added. The project marked a new step for the ex-Chancellor after he was forced to give up his government role in 2021, over claims linked to corruption allegations. A new age for cybersecurity The new funding round for Dream accelerates the development of the firm's Cyber Language Model (CLM) and will also fuel the company's expansion into additional markets. The firm noted that it would "focus on markets where cyber threats continue to pose significant national security challenges". Enrique Salem of Bain Capital Ventures will join Dream's board of directors, along with Shlomo Yanai, who currently serves on the board of Philip Morris. They will join current board members Dovi Frances, Michael Eisenberg and the founders of the company. AI needed to tackle AI attacks Experts warn that, as cyber criminals launch more sophisticated attacks using AI technology, governments and firms must employ defensive AI strategies. For example, AI is now being used to create realistic phishing emails or deepfakes to encourage individuals to share sensitive information. The total cost of cybercrime, according to an industry group cited by the WEF, jumped from $3tn (€2.9tn) in 2015 to $6tn (€5.7tn) in 2021. Statista estimates that this total will reach $15.6tn (€14.9tn) by 2029. Organisations spent approximately $200bn (€191bn) globally on cybersecurity products and services in 2024, according to McKinsey.
Euronews
17-02-2025
- Business
- Euronews
AI firm started by Austria's former PM Sebastian Kurz hits unicorn status
Tel Aviv-based cybersecurity firm Dream has announced a funding round worth $100 million (€105m) on Monday, valuing the company at $1.1bn (€1.05bn). The Series B round was led by Bain Capital Ventures, while additional investors included Group 11, Tru Arrow, Tau Capital and Aleph. Founded in January 2023, Dream develops AI-driven cyber defence solutions for governments, seeking to identify and eliminate threats before they materialise. In 2024, Dream amassed more than $130m (€124m) in annual sales to governments and national cybersecurity organisations. "Sophisticated cyber-attacks on our critical infrastructure are increasing in both prevalence and complexity," said Sebastian Kurz, co-founder and President of Dream, in a statement on Monday. 'During my time as Prime Minister I saw first hand how these attacks can cause real human damage, and have the capacity to disrupt society at large. By founding Dream, we are on a mission to empower nations against what is the defining national security concern of our era," he added. A pivot for Kurz Kurz founded Dream alongside entrepreneur Shalev Hulio and cyber expert Gil Dolev. The project marked a new step for the ex-Chancellor after he was forced to give up his government role in 2021, over claims linked to corruption allegations. In February last year, a court in Vienna found Kurz guilty of lying to parliament under oath, handing him an eight-month suspended sentence. Kurz had assured a parliamentary committee that he had not been directly involved in the appointment of executives for the state holding company ÖBAG. Prosecutors then produced text messages and a testimony from the first head of OBAG, Thomas Schmid, suggesting otherwise. Kurz at the time called the ruling "very unfair" and said that he would launch an appeal. In a separate scandal, the ex-Chancellor was accused of spending public money for favourable media coverage. A new age for cybersecurity The new funding round for Dream accelerates the development of the firm's Cyber Language Model (CLM) and will also fuel the company's expansion into additional markets. The firm noted that it would "focus on markets where cyber threats continue to pose significant national security challenges". Enrique Salem of Bain Capital Ventures will join Dream's board of directors, along with Shlomo Yanai, who currently serves on the board of Philip Morris. They will join current board members Dovi Frances, Michael Eisenberg and the founders of the company. AI needed to tackle AI attacks Experts warn that, as cyber criminals launch more sophisticated attacks using AI technology, governments and firms must employ defensive AI strategies. For example, AI is now being used to create realistic phishing emails or deepfakes to encourage individuals to share sensitive information. The total cost of cybercrime, according to an industry group cited by the WEF, jumped from $3tn (€2.9tn) in 2015 to $6tn (€5.7tn) in 2021. Statista estimates that this total will reach $15.6tn (€14.9tn) by 2029. Organisations spent approximately $200bn (€191bn) globally on cybersecurity products and services in 2024, according to McKinsey.
Associated Press
17-02-2025
- Business
- Associated Press
Dream, the First AI Company for National Cybersecurity, Raises $100M to Defend Nations and Critical Infrastructure
TEL AVIV, Israel--(BUSINESS WIRE)--Feb 17, 2025-- Dream, an AI company providing cyber resilience for nations and critical infrastructure, today announced a $100 million Series B led by Bain Capital Ventures at a $1.1 billion valuation. Additional investors include Group 11, Tru Arrow, Tau Capital and Aleph. With this funding, Dream will further enhance its product capabilities and global market reach. Cybersecurity is no longer just a security challenge; it's a massive data problem. Governments must navigate complex environments that include legacy systems, cloud infrastructure, and hybrid architectures, all while managing vast amounts of security data. At the same time, cyberattacks are becoming more advanced, with attackers leveraging AI to outsmart traditional defenses and exploit blind spots in organizations that lack full visibility into their data and vulnerabilities. Dream is rebuilding cybersecurity with a suite of proprietary AI models designed to think like both a defender and an attacker. By fusing advanced posture management with AI predictive detection, Dream created a robust data ecosystem that not only anticipates but actively eliminates threats before they materialize. 'Never before has a company been founded with the primary mission of providing national cybersecurity protection for a country or a government,' said Shalev Hulio, co-founder and CEO of Dream. 'We founded Dream to deliver a solution that truly works for nations, specifically because it was designed with their needs in mind.' 'Sophisticated cyber-attacks on our critical infrastructure are increasing in both prevalence and complexity,' said Sebastian Kurz, co-founder and President of Dream. 'During my time as Prime Minister I saw firsthand how these attacks can cause real human damage, and have the capacity to disrupt society at large. By founding Dream, we are on a mission to empower nations against what is the defining national security concern of our era.' Dream's approach to cybersecurity is shaped by its deep-rooted experience in cyber intelligence, guiding the development of its AI capabilities. The company was created by Sebastian Kurz, former Prime Minister of Austria; Shalev Hulio, a serial entrepreneur and former founder of NSO Group; and Gil Dolev, a cyber expert. After leaving government and the NSO Group, the founders brought their firsthand knowledge to Dream and quickly earned the trust of global government entities responsible for national cyber defense. In just two years since its founding, Dream has amassed more than $130 million in annual sales in 2024 to governments and national cybersecurity organizations, proving its critical role in global cyber defense. This funding accelerates the development of Dream's Cyber Language Model (CLM), a first-of-its-kind family of Language Models specifically trained for cybersecurity operations. Recognizing that cybersecurity challenges are primarily expressed through text and data, these specialized models are designed to understand and act on cyber knowledge – from code to logs to threat intelligence, automating complex security tasks that traditionally require human expertise and intervention. Using this knowledge, Dream's customers can better understand their networks and their breach-points, without requiring any installation or integration, in record-breaking time, helping prevent sophisticated nation-state cyber-attacks on their networks. The investment will also fuel the company's expansion into additional markets, with a strategic focus on markets where cyber threats continue to pose significant national security challenges. As part of this funding round, two distinguished industry leaders, Enrique Salem and Shlomo Yanai, will join Dream's Board of Directors. Enrique Salem, partner at Bain Capital Ventures, previously served as CEO of Symantec and Chairman of Mediant. MG. (Res.) Shlomo Yanai is the former CEO of Teva Pharmaceuticals and currently serves on the board of Philip Morris. Their addition to the board further strengthens Dream's vision of building cyber resilience on a national and global scale. They will join current board members Dovi Frances, Michael Eisenberg and the founders of the company. 'The Dream team has a proven track record of developing industry-leading security products and providing them to the most sophisticated customers, government leaders, as well as leading nation states,' said Enrique Salem, partner at Bain Capital Ventures. 'Dream's rapid growth in such a short time is a testament to their expertise, and I can't think of a better team to solve the fundamental problem of incomplete visibility and too many alerts.' About Dream Dream Group was founded in January 2023 by Sebastian Kurz, former Prime Minister of Austria; Shalev Hulio, a serial entrepreneur, former founder of NSO Group and world-renowned cyber visionary; and Gil Dolev, a cyber expert. Dream Group combines world-class data scientists, cyber researchers, and elite AI and cybersecurity experts with offices in Tel Aviv, Vienna, and Abu Dhabi. SOURCE: Dream Copyright Business Wire 2025. PUB: 02/17/2025 06:05 AM/DISC: 02/17/2025 06:06 AM
