Dream Security, an Israeli artificial-intelligence cybersecurity startup, has emerged as one of the sector’s fastest-growing new players after securing a valuation of around $1.1 billion, marking its entry into the global “unicorn” club.
The company was co-founded by Shalev Hulio, a co-founder and former chief executive of NSO Group, the controversial spyware developer behind Pegasus. Hulio launched Dream Security following his departure from NSO, repositioning himself in a market segment focused on defensive cybersecurity rather than surveillance tools.
Dream Security was also co-founded by Sebastian Kurz and cybersecurity specialist Gil Dolev, combining political, strategic, and technical expertise. The company focuses on protecting governments and critical national infrastructure—including energy, water, and transportation systems—against advanced cyberattacks, particularly those linked to nation-state actors.
The unicorn valuation followed a major funding round led by Bain Capital and other international investors, reflecting strong confidence in Dream’s AI-driven approach and growing demand for sovereign-grade cyber defense solutions. The company has since raised additional capital through secondary financing, further strengthening its balance sheet.
While Hulio’s return to the cybersecurity spotlight has drawn scrutiny due to NSO’s legacy, Dream Security has positioned itself as a fundamentally different venture—one aligned with defensive cyber resilience rather than offensive surveillance—at a time when governments worldwide are racing to secure critical digital infrastructure.