Dream, the Tel Aviv-based sovereign AI and cyber-defense company co-founded by former NSO Group chief Shalev Hulio and former Austrian Chancellor Sebastian Kurz, has raised $260 million at a $3 billion valuation, formally unveiling a "sovereign AI" stack built for national governments.
A $3 billion bet on national sovereignty
The round was co-led by Bicycle Capital and Group 11, with participation from Antler, Bain Capital Ventures, Tru Arrow Partners and other global investors. The financing values Dream at $3 billion just three years after its 2023 founding, and the company says it is already profitable, with roughly 350 employees and close to $300 million in sales last year. Its pitch is simple: every nation has data, but few can protect it and fewer still can act on it.
Sphere, Hero and Atlas
Dream's platform spans three products. Atlas is a national AI layer that turns fragmented government data into decisions; Sphere defends governments and critical infrastructure against nation-state threats with a single operational picture from discovery to remediation; and Hero is an agentic security researcher that autonomously hunts for unknown, no-CVE vulnerabilities and prepares validated patches. The systems are designed to run entirely on-premises and air-gapped, with what the company calls "zero foreign reliance."
Riding the agentic-security wave
The raise lands amid a surge of capital into AI-native cyber defense. Startups building agentic defenses have pulled in billions this year, as enterprises and governments confront attackers who increasingly automate the gap between discovery and exploitation. That momentum is visible across the sector, from NeuralTrust's $20M seed to secure enterprise AI agents to Tenet Security's launch from ex-Cisco founders. Dream's focus on governments and critical infrastructure positions it against a different class of buyer than most venture-backed security firms, even as the broader funding boom continues across frontier AI rounds.
With the new capital, Dream plans to scale its sovereign stack to more national customers, deepening a market it argues is only now becoming reachable for governments that previously could not afford to build AI capability on their own terms.
Reporting based on coverage from PR Newswire, SecurityWeek, SiliconANGLE and Haaretz.