Dream, the Israeli cyber and AI company founded by former NSO chief Shalev Hulio, said on Thursday that it raised $260 million at a $3 billion valuation. That is triple the valuation it received in its previous round, closed about a year and a half ago. The company, which employs 350 people, said the new financing brings its total funding to $412 million.
Dream said that since it began commercial operations in late 2024, it has accumulated about $300 million in orders. The company was launched in 2023 by Hulio, former chairman and co-founder of NSO, together with former Austrian chancellor Sebastian Kurz and cyber specialist Gil Dolev, who also worked with Hulio at NSO.
Unlike NSO, which became globally controversial over surveillance of journalists, human-rights activists and political opponents, Dream sells governments systems designed to defend against cyberattacks and manage sensitive state data without relying on external cloud infrastructure from foreign companies. The company says it is now trying to sell that approach to European countries and others seeking to reduce dependence on American computing infrastructure, and says it is working with governments in Europe, the Middle East, Southeast Asia and America.
Hulio said, “Artificial intelligence is a new national infrastructure. And when it comes to critical national infrastructure, access is not enough. Countries need control and independence.” Dream said the money will accelerate development and deployment of its AI and defense systems for governments and critical infrastructure in Europe, the Middle East, Southeast Asia and America. The round was led by Bicycle Capital, with participation from 11 Group, the investment firm of Dovi Frances, Clal Insurance and other investors.
