Israeli AI and cyber company Dream said Thursday it closed a $260 million funding round at a $3 billion valuation, making it a triple unicorn just three years after its founding. The company said the round was led by Bicycle Capital and Group 11, with participation from Clal Insurance and Finance, BRV Capital, Bain Capital Ventures, Antler, Tru Arrow Partners and others. Since launching commercial operations in late 2024, Dream says it has booked about $300 million in orders and has raised $412 million in total. It now employs about 350 people in Tel Aviv, Abu Dhabi and Vienna.
Founded in 2023 by Shalev Hulio, Sebastian Kurz and Gil Dolev, Dream describes itself as a sovereign AI and national cyber defense company. Its pitch is aimed at governments, militaries, intelligence agencies and critical infrastructure operators that want not just access to AI, but control over the models, data, permissions and operating environment. The company says that need has become more urgent after the Trump administration restricted foreign access to advanced Anthropic AI models, a move that sharpened concerns that American vendors or Washington itself could cut off access.
Dream’s main product is Atlas, a sovereign AI platform that connects government data scattered across agencies, runs dedicated language models for national tasks, and turns distributed information into operational intelligence inside a state-controlled secure environment. The company says it is also offering governments an independent AI engine rather than another analytics tool or cyber product.
Alongside Atlas, Dream sells Sphere, an AI-based cyber defense platform for detecting, investigating and disrupting advanced attacks on governments and national infrastructure, and Hero, an autonomous security research platform that finds vulnerabilities, maps attack paths and can automatically fix them. Hulio said, “The control of AI will create the superpowers of the future,” while Kurz said the key question for governments is no longer whether to use AI, but who controls it.
