The former CEO of Israeli spyware firm NSO Group, Shalev Hulio, has teamed up with ex-Austrian Chancellor Sebastian Kurz to launch a new cybersecurity startup focusing on "critical infrastructure protection," as reported by Bloomberg.

Dream Security has raised $20 million in a round led by venture capitalist Dovi Frances, a spokesperson revealed. Gil Dolev, the former CEO of Wayout Group, an Israeli IT firm that served intelligence agencies before being acquired, will also join the new organization.

Dream Security will utilize the funding to develop an artificial intelligence-based system that will detect and respond to cyber threats as they arise, according to the business. “We decided to leave the intelligence side, offensive side if you want, and move to the defensive side,” they claimed

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Hulio said in an interview, “We saw that the biggest challenge the cyber world is dealing with is critical infrastructure.” Hulio said the new company is primarily aimed at European countries, “because I currently think that they have the biggest threats right now because of the geopolitical situation.”

Hulio sprang to notoriety as the leader of NSO, whose Pegasus software is sold to governments and law enforcement agencies for use in hacking into the mobile phones of opposition members and dissidents. He resigned in August as part of a restructuring.

A human rights report released last year revealed that the NSO's malware was used in more than 60 cases targeting dissidents and government opponents in countries such as Rwanda, Togo, Spain, the United Arab Emirates, Saudi Arabia, Mexico, Morocco, and India. 

NSO claimed at the time that it is investigating any unauthorized usage of its system. The corporation has recently stated that it will focus on NATO member countries in the future.

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On his part, Kurz was forced to quit as Austria's chancellor in 2021 when prosecutors opened an investigation into alleged wrongdoing that aided his ascent to office. Since then, he has been named global strategist for billionaire Peter Thiel's Thiel Capital LLC. Kurz has categorically denied any wrongdoing.

“This is the strongest and most seasoned founding team I have seen,” said Frances, who has previously invested in firms including TripActions and Tipalti. He added that the new company came at a “unique time in the market where de-globalization forces all nations to strengthen protection around their critical infrastructure.”