AI coworker startup raises $115 million

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.

Future Secure AI expects annual recurring revenue to approach US$100 million by the end of 2026, according to the AFR.

The business has offices in Sydney, Melbourne, New York, Chicago, Austin, Toronto and São Paulo.

An ASX listing is also on the agenda for late 2027, with investment banks expected to be appointed in the coming months.