Yes. The owner/developer is Kape technologies, an Israeli spyware/adware company.

To quote from cnet

For maximum privacy, I recommend VPN providers with a jurisdiction outside of Five Eyes and other international intelligence-sharing agreements – that is, one headquartered outside of the US, UK, Australia, New Zealand and Canada. So it initially seems like a positive sign that, while CyberGhost has offices in Germany, it’s headquartered in Romania. German entrepreneur Robert Knapp says he founded the $114,000 startup on the back of low-wage Bucharest labor before flipping it for $10.5 million in 2017.

The issue is who he sold it to – the notorious creator of some pernicious data-huffing ad-ware, Crossrider. The UK-based company was cofounded by an ex-Israeli surveillance agent and a billionaire previously convicted of insider trading who was later named in the Panama Papers. It produced software which previously allowed third-party developers to hijack users’ browsers via malware injection, redirect traffic to advertisers and slurp up private data.

Crossrider was so successful it ultimately drew the gaze of Google and UC Berkeley, which identified the company in a damning 2015 study. (You can read the Web Archive version of that document.)

This practice, commonly called traffic manipulation, is condemned web-wide. And the only difference between it and one of the oldest forms of cyberattack, called man-in-the-middle (MitM), is that you clicked “agree” on the terms and conditions.

Whether or not PIA or ExpressVPN or the other providers owned by Kape fulfill this data scraping and ad-serving pipeline in my mind is irrelevant. Choosing to do business with them rewards bad actors when there are other VPN sellers who don’t have such a tainted lineage.