Australian-founded Future Secure AI has raised approximately $80 mn (A$115 mn) in a new funding round valuing the artificial intelligence company at $1.2 bn, as it expands internationally and prepares for a potential Australian Securities Exchange (ASX) listing in 2027.
The investment attracted backing from Square Peg, Yarra Capital Management, Macquarie Asset Management and Firetrail, alongside the company’s existing institutional investors.
- Future Secure AI secured approximately A$115 mn in funding through convertible notes, reaching a valuation of A$1.7 bn.
- The investment attracted Square Peg, Yarra Capital Management, Macquarie Asset Management and Firetrail, supporting the company’s international expansion.
- Future Secure AI is considering an ASX listing in late 2027 and expects annual recurring revenue to approach US$100 mn by the end of 2026.
The financing was structured through convertible notes and represents Future Secure AI’s third funding round since its establishment in 2023, following a previous capital raise in June 2025.
Reports have placed the latest investment at between $80 mn and $82 mn, with the higher figure equivalent to approximately A$118 mn.
The new valuation places Future Secure AI among Australia’s latest technology unicorns, reflecting investor interest in companies developing autonomous AI systems for enterprise applications.
Future Secure AI expands enterprise AI operations
Founded in Sydney in 2023 by co-chief executives Mehrdad Baghai and Michael Hunter, Future Secure AI develops AI-powered digital workers designed to automate complex business processes.
The company’s technology assembles teams of AI agents that perform different tasks while operating under human supervision. Each agent is assigned a name and visual identity, creating a structure intended to resemble conventional workplace teams.
Unlike AI assistants focused on individual requests, the company’s systems are designed to manage workflows involving multiple processes, business functions and stakeholders.
Potential applications include financial reporting, tax calculations, customer service and other operational activities across investment banking, consulting, healthcare and legal services.
Future Secure AI says its approach allows companies to automate complex work while retaining human oversight of decisions and outcomes.
The company’s founders said the latest investment would support broader adoption of its technology among large enterprises and help expand its international customer base.
Originally established in Australia, Future Secure AI is now headquartered in Austin, Texas, and maintains offices in Sydney, Melbourne, New York, Chicago, Toronto and São Paulo.
Revenue growth supports plans for 2027 ASX listing
Future Secure AI expects annual recurring revenue to approach $100 mn by the end of 2026. The company is also targeting profitability in the next quarter as it expands its commercial operations. The fundraising comes ahead of a potential initial public offering on the ASX in late 2027.
Future Secure AI is expected to appoint investment banks to advise on the proposed listing over the coming months, although the timing and structure of any transaction remain subject to market conditions.
The company is chaired by Alex Harvey, the former chief financial officer of Macquarie Group. Its board also includes Alcoa chair Tom Gorman, Voyager Technologies CEO Dylan Taylor and Patagonia chair Charles Conn.
The senior advisory board includes former Macquarie CEO Nicholas Moore, AirTrunk founder Robin Khuda and former Australian health minister Greg Hunt.
Investors back AI automation for complex enterprise work
The financing reflects growing investor interest in enterprise AI systems capable of executing business processes rather than simply generating content or responding to user queries.
Future Secure AI is positioning its technology around tasks requiring coordination between departments, access to business systems and ongoing human oversight.
Square Peg, one of the investors participating in the round, has highlighted the potential for autonomous AI systems to change how large organizations manage complex work.
The investment firm has also emphasized the importance of enterprise trust and operational expertise as AI developers compete to integrate their technologies into established business processes.
For Future Secure AI, the new capital will support customer acquisition and international expansion while providing additional financial capacity ahead of a possible public listing.
The company’s progress toward its revenue and profitability targets will be an important factor as it prepares for a potential ASX debut in 2027.
