Dream Security raises $260 million
Israeli cybersecurity company Dream Security has raised $260 million in a Series C funding round that values the company at $3 billion. The round was co-led by Bicycle Capital and Group 11, with participation from Antler, Bain Capital Ventures, Tru Arrow Partners, Clal Insurance , and other investors.
Founded in 2023 by former NSO Group CEO Shalev Hulio and former Austrian Chancellor Sebastian Kurz, Dream develops sovereign AI and cybersecurity platforms for governments and critical infrastructure operators. The company said it has secured nearly $300 million in contract value since beginning commercial operations in late 2024.
Dream offers three platforms. Sphere is a national cyber defense platform that combines cyber intelligence, exposure management, attack path analysis, digital twin technology, and AI-powered detection and response. Hero is an autonomous AI security researcher designed to discover vulnerabilities and identify attack paths before attackers can exploit them. Atlas is a sovereign AI platform that enables governments to connect fragmented data, deploy mission-specific AI models and agents, and generate insights within government-controlled environments.
“Land created empires. Industry created nations. Artificial intelligence will create the next super nations. Every nation has data. Few can protect it. Fewer can use it. Sovereign AI is the key. We built Dream to help governments secure their information, transform it into knowledge, and convert that knowledge into national capability. The future of a nation should never depend on technology it does not control.” – Shalev Hulio, Co-Founder and CEO of Dream.
“The defining question for governments is no longer whether they will use AI, but whether they will own it. Nations that want to control their future need the ability to operate advanced AI under their own authority, on infrastructure they govern, and in alignment with their own interests. Sovereign AI is becoming a foundational layer of national resilience, competitiveness, and security. Countries that build and control their own AI capabilities will be better positioned to protect critical infrastructure, strengthen public services, improve decision-making, and safeguard their national interests.” – Sebastian Kurz, President and Co-Founder of Dream and former Chancellor of Austria.
“Governments around the world are increasingly seeking secure and sovereign ways to deploy artificial intelligence. Dream has built a unique platform at the intersection of AI, cybersecurity, and government technology. The company is defining one of the most important technology categories of the coming decade.” – Shu Nyatta, Co-Founder and Managing Partner of Bicycle Capital.
“We backed Dream at the seed stage and have led or co-led nearly every financing round since. That is conviction, not coincidence. Dream is building critical infrastructure for the AI era, and we believe it is uniquely positioned to define this category globally.” – Dovi Frances, Founding Partner of Group 11.
