The company was co-founded by Shalev Hulio, the former CEO of NSO Group, who left the firm in 2022 following global scrutiny over allegations that its Pegasus spyware was used to target WhatsApp users, as reported by Meta. Hulio launched Dream in 2023, positioning it in a different segment of the cybersecurity market.
Unlike NSO Group, which sold surveillance tools to governments for counterterrorism and law enforcement purposes, Dream says its focus is defensive. The startup works on protecting governments and critical infrastructure such as water systems, oil and gas facilities, and other national assets from cyberattacks.
The company recently introduced its sovereign AI platform, Atlas, and says demand is already significant across multiple regions. Hulio told Reuters the firm generated around $300 million in government-related sales last year, spanning Europe, the Middle East—including Gulf states—and parts of Asia. He also claimed the company had “prevented huge cyber attacks from China, Russia, Iran and North Korea.”
Dream currently operates in Tel Aviv, Abu Dhabi, and Vienna, employing about 350 people. The fresh capital will be used to scale its sovereign AI and national cyber defense systems globally, including expansion into Europe, the Middle East, Asia, and the Americas.
Former Austrian Chancellor Sebastian Kurz, also a co-founder, framed the company’s mission in geopolitical terms, saying that in today’s environment, “allies sometimes don't know if they will be able to trust their allies forever, so there's a big need for sovereignty and being more independent.”
Hulio has described the future of cybersecurity in stark technological terms, saying, “the next cyber war is actually going to be AI versus AI,” and emphasizing that Dream’s systems are designed to defend against both human-led and AI-generated attacks.
The funding round was co-led by Bicycle Capital and Group 11, with participation from investors including Antler, Bain Capital Ventures, and Tru Arrow Partners. Looking ahead, Hulio said the company’s ambitions extend beyond private growth, stating, “eventually we will go public,” as Dream positions itself for long-term expansion into a major listed cybersecurity player.