business
AI coworker startup raises $115 million
Future Secure AI raises US$80 million (A$115 million) at US$1.2 billion valuation
Key points
- Future Secure AI raised US$80 million (A$115 million) via convertible notes at a US$1.2 billion (A$1.7 billion) valuation.
- The round was backed by Square Peg, Yarra Capital Management, Macquarie Asset Management and Firetrail.
- The company expects annual recurring revenue to approach US$100 million by the end of 2026, according to the AFR.
Why it matters. The company plans wider international customer growth and an ASX listing is on the agenda for late 2027, with investment banks expected to be appointed in the coming months.
Australian-founded Future Secure AI, now headquartered in Austin, Texas, has raised US$80 million (A$115 million) at a US$1.2 billion valuation through convertible notes. Square Peg, Yarra Capital Management, Macquarie Asset Management and Firetrail backed the round, the company's third since June 2025. Co-CEOs Baghai and Hunter said the funds will support international expansion, and annual recurring revenue is expected to approach US$100 million by end-2026, per the AFR.
Latest updates
AI coworker startup raises $115 million
Future Secure AI grabs US$80m at a US$1.2b valuation to unleash AI co-workers globally. Future Secure AI grabs US$80m at a US$1.2b valuation to unleash AI co-workers globally. Nov 6, 2026 1 min read Image: Adobestock Australian-founded Future Secure AI has raised US$80 million (A$115m) to expand its customer base globally. The round, backed by Square Peg, Yarra Capital Management, Macquarie Asset Managemen and Firetrail, came via convertible notes at a US$1.2 billion (A$1.7bn) valuation, to three-year-old Sydney startup, now headquarted in Austin, Texas It is the company’s third funding round, following its previous raise in June 2025. Future Secure AI, founded in 2023, builds AI “co-workers” for large organisations, targeting complex tasks across sectors including investment banking, consulting, healthcare and law. Its technology assembles teams of AI agents, each with a name and face, overseen by a human supervisor. Baghai and Hunter, the co-CEOs, said the investment would help take that approach to more customers internationally. Get the best of Startup Daily straight to your inbox Want to know the latest in startup news? Subscribe to our daily news and analysis coverage on what’s happening to ANZ startups, investors and the broader ecosystem. And best of all, it’s FREE! By continuing, you agree to our Terms & Conditions and Privacy Policy . Future Secure AI expects annual r.