Dream Security

The problem: old OT infrastructure against new cyber threats

Power grids, water systems and industrial facilities are run by industrial control systems (OT) that were mostly built before the internet era: old protocols, operating systems that cannot easily be updated without stopping an entire production line, and equipment designed to run continuously for decades. An attack on such infrastructure can cause real physical damage, not just a data leak, as the Stuxnet virus proved in the early 2010s. Dream Security, founded at the end of 2022 by Shalev Hulio (former CEO of NSO), Gil Dolev and Sebastian Kurz (former chancellor of Austria), focuses on dedicated protection for OT environments and national infrastructure.

This combination, Israeli military cyber experience alongside access to the top of European politics, explains the company's focus specifically on government customers, rather than on the consumer market or even regular business organizations.

Three products: Sphere, Hero and Atlas

According to the company's announcement from June 2026, Dream has built three complementary platforms. Sphere helps governments and critical infrastructure operators defend against cyber threats from hostile states, and combines cyber intelligence, exposure management, attack path analysis and a digital twin. Hero is an AI-based "autonomous security researcher" that finds vulnerabilities and attack paths and "reasons" like an attacker at machine speed, to identify weaknesses before attackers do. Atlas is the company's "sovereign" AI platform. It lets governments connect scattered national data, turn it into structured knowledge, and run AI agents and purpose-built models, all inside an environment under the government's own control.

"Land created empires. Industry created nations. Artificial intelligence will create the next super nations," said Shalev Hulio, Dream's co-founder and CEO, in the June 2026 funding announcement.

A $260 million raise at a $3 billion valuation

In June 2026 Dream announced a $260 million capital raise at a company valuation of about three billion dollars, only about three years after its founding. 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. According to the company, the raise followed nearly $300 million in cumulative contract value since it began commercial operations at the end of 2024, and will be used to speed up deployment of its platforms in Europe, the Middle East, Asia and the Americas.

"We backed Dream at the seed stage and have led or co-led nearly every financing round since," said Dovi Frances, founding partner of Group 11, in the funding announcement, a sign that this investor has stayed involved with the company through all its stages of growth.