Short: Cybersecurity Investment Highly Profitable

In addition to several companies, the ex-Chancellor Sebastian Kurz also holds around 15 percent of the cybersecurity company Dream Security, based in Tel Aviv. Kurz estimates the revenue of the company, founded at the beginning of 2023 and primarily targeting governments and large companies, at 100 million euros - and it is already "highly profitable," added the former ÖVP politician on the occasion of the presentation of the company and its Vienna representation on Monday in Vienna.

Valuation of Dream Security

After the entry of the US investor Bain Capital, the company is valued at 1.1 billion dollars with 100 million dollars (88 million euros). And the share of the ex-Chancellor is said to be around 15 percent - thus the value of this stake is in the triple-digit million range.

Dream Security specializes in protecting critical infrastructure, also utilizing artificial intelligence. This way, vulnerabilities within the system are identified and solutions are suggested to close security gaps, noted co-founder Shalev Hulio. Authorities would save corresponding personnel resources and, above all, a lot of time with the software when critical infrastructure needs to be protected.

Customers on Different Continents

Meanwhile, the company has customers in Europe, the Middle East, and Asia. Not only governments rely on the security solution. A "very large bank" is also among the technology company's customers. And with the US investor Bain Capital as a shareholder, the company also expects better chances in the American market.

Before founding Dream Security, Hulio became known with the company NSO, which developed the spyware Pegasus. According to his own statements, he stumbled into this industry rather by chance. The lawyer had a company that offered remote maintenance of mobile phones. Then the request came whether he could offer something similar for crime fighting, explained Hulio the origin of Pegasus.

Ex-Chief of Staff of Kurz on Board

At the headquarters in Tel Aviv, Dream Security employs around 200 people, while in the Vienna branch, Dream Advanced Technology GmbH, there are currently 10 employees. Bernhard Bonelli, former chief of staff in the Federal Chancellery under Kurz and Alexander Schallenberg, is the managing director of the company.

(APA/Red)

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