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- Dream Security
Dream Security Revenue, Valuation, Funding & Investors
Dream Security is valued at $3B as of June 2026.
Last Dream Security valuation
$3B
Series C · Jun 2026
Last Dream Security funding round
$260M
Series C · Jun 2026
Dream Security revenue
$100M
Secondary · Aug 2025
Key investors in Dream Security
Group 11
Tru Arrow Partners
Bain Capital Ventures
Aleph
Tau Capital
Antler
About Dream Security
Dream Security is a Seoul-headquartered cybersecurity provider offering AI-driven threat detection, incident response, vulnerability management, and cloud security services. The company monitors network anomalies, conducts penetration testing, and delivers security awareness training alongside compliance consulting. Part of Dreamtech Group, it supports enterprises with strategies for regulatory adherence in finance, healthcare, and government sectors across Asia.
Founded
2023
HQ
Website
Status
Privately held
Customer focus
B2B & B2G
Revenue model
Services, Subscription
Revenue
$100M (Aug 2025)
Valuation
$3B (Jun 2026)
Dream Security Valuation
Dream Security is currently valued at $3B, based on its Series C in June 2026.
The $260M round was led by Bicycle Capital and Group 11, with participation from BRV Capital Management, Antler, Clal Insurance, Bain Capital Ventures and Tru Arrow Partners.
Dream Security's valuation has grown 2.7x from $1.1B at its Series B in February 2025 to $3B in June 2026, across 3 priced rounds.
Dream Security valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2026 | Series C | $3B | - |
| Aug 2025 | Secondary | $1.3B | 13.0x |
| Feb 2025 | Series B | $1.1B | 8.5x |
Dream Security Revenue
Dream Security's latest recorded revenue is $100M, as of its secondary sale in August 2025. At a $1.3B valuation, that implies a 13.0x revenue multiple.
Revenue moved from $130M in February 2025 to $100M in August 2025, while the revenue multiple moved from 8.5x to 13.0x.
Dream Security revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Aug 2025 | $100M | $1.3B | 13.0x | Secondary |
| Feb 2025 | $130M | $1.1B | 8.5x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Dream Security Funding History
Dream Security has raised a total of $414M across 4 funding rounds, plus 1 secondary share sale.
Dream Security's first fundraising round was a $20M seed round in October 2022. The most recent completed round was a $260M Series C in June 2026.
Dream Security funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2026 | Series C | Bicycle Capital (lead); Group 11 (lead); BRV Capital Management; Antler; Clal Insurance; Bain Capital Ventures; Tru Arrow Partners | $260M | $3B | Dream, an Israeli AI and cybersecurity firm specializing in sovereign AI infrastructure for governments and critical infrastructure, raised $260 million in a funding round on June 18, 2026, bringing its valuation to $3 billion. 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. This financing nearly triples the $1.1 billion valuation Dream commanded in February 2025, marking a revaluation pace that reflects both market demand for defensive AI and the company's rapid growth. The deal brings Dream's total fundraising to $412 million since its founding three years ago. Since launching commercial operations in late 2024, Dream has secured nearly $300 million in total contract value. The company's strategic rationale centers on providing sovereign AI infrastructure that governments can fully own, control, and operate, addressing growing concerns about dependence on foreign-controlled technology. Dream operates from Tel Aviv, Israel, and Vienna, Austria, serving governments and critical infrastructure sectors globally. |
| Aug 2025 | Secondary | 7GC & Co (lead); Group 11; Tau Capital; Jack Linney; Tru Arrow Partners | $45M | $1.3B | Dream Security is an Israeli artificial intelligence cybersecurity company founded in January 2023 by Shalev Hulio (former CEO of NSO Group), Sebastian Kurz (former Austrian Chancellor), and Gil Dolev. The company develops specialized cyber language models and protection systems designed specifically for governments, national cybersecurity organizations, and critical infrastructure operators such as energy facilities, water systems, and nuclear reactors. Dream Security raised $100 million in a Series B funding round in February 2025 at a $1.1 billion valuation, led by Bain Capital Venture with participation from Group 11, Tru Arrow Partners, Tau Capital, and Aleph. In a subsequent secondary financing round in early 2025, the company raised $45 million from investors including 7GC (led by Stefan Pols and Jack Linney), existing investors Tru Arrow Partners, Tau Capital, and Group 11, at an increased valuation of $1.3 billion. This secondary round involved the purchase of shares directly from veteran employees and shareholders rather than new capital flowing to the company. By early 2025, Dream Security had generated over $130 million in annual sales and reported annual recurring revenue (ARR) estimated at $100-150 million, reflecting rapid growth since its founding two years prior despite having fewer than 10 enterprise customers. The company's valuation trajectory and revenue generation underscore strong demand from government and critical infrastructure sectors for its AI-driven cybersecurity solutions. |
| Feb 2025 | Series B | Bain Capital Ventures (lead); Group 11; XT Venture Capital; Tau Capital; Aleph; Tru Arrow Partners | $100M | $1.1B | Dream Security is an AI-driven cybersecurity company specializing in cyber resilience for nations and critical infrastructure. Co-founded in January 2023 by former Austrian Chancellor Sebastian Kurz, ex-NSO Group CEO Shalev Hulio, and cybersecurity expert Gil Dolev, the company develops proprietary Cyber Language Models (CLM) that simulate defender and attacker strategies to preempt sophisticated nation-state threats without requiring installation or integration. Operating from Tel Aviv, Vienna, and Abu Dhabi, Dream targets governments and national cybersecurity agencies facing escalating AI-enabled cyberattacks. On February 17-18, 2025, Dream closed a $100 million Series B funding round led by Bain Capital Ventures, with participation from Group 11, Tru Arrow Partners, Tau Capital, and Aleph, achieving a post-money valuation of $1.1 billion and unicorn status as the first Israeli AI-cyber unicorn of 2025. The round explicitly states a $1.1B post-money valuation. Funds will enhance CLM development, expand product capabilities, and enter new markets with significant cyber threats. Industry leaders Enrique Salem (ex-Symantec CEO) and Shlomo Yanai (ex-Teva CEO) joined the board. Dream demonstrated rapid traction, generating over $130 million in annual sales in 2024 to governments and national cybersecurity organizations, underscoring its role in global cyber defense. One later report estimates ARR at $100-150 million, with a $130 million order backlog earlier in the year. The investment reflects strong investor confidence in Dream's offensive-cyber expertise combined with AI, positioning it against rising threats to critical infrastructure. A subsequent secondary financing in 2025 valued the company at $1.3 billion, but details pertain to the specified February 2025 primary VC round. |
| Nov 2023 | Series A | Aleph (lead); Group 11 (lead) | $34M | - | - |
| Oct 2022 | Seed | Group 11 (lead); Shalom Meckenzie; Noam Lanir; Adi Shalev; Nadir Izrael; Assaf Hefetz; Yevgeny Dibrov | $20M | - | Dream Security is an Israeli AI-powered cybersecurity company founded in January 2023 by Shalev Hulio (former NSO Group CEO), Sebastian Kurz (former Austrian Chancellor), and Gil Dolev. The company specializes in national-scale cyber defense, combining deep offensive cyber expertise with proprietary AI models designed to detect and neutralize nation-state threats to critical infrastructure. Dream's platform protects governments and national cybersecurity organizations across oil, water, energy facilities, and other critical infrastructure. The company became a unicorn in February 2025 when it raised $100 million in its Series B round led by Bain Capital Ventures at a post-money valuation of $1.1 billion, with participation from Group 11, Tru Arrow Partners, Tau Capital, and Aleph. By early 2025, Dream reported annual sales exceeding $130 million to governments and an estimated annual recurring revenue (ARR) of $100–150 million. In a subsequent secondary financing round (share purchases from employees), the company reached a valuation of $1.3 billion. The company's proceeds from the Series B were designated for developing its cyber language model (CLM) and expanding into global markets where cyber threats pose significant national security challenges. |
Who has invested in Dream Security?
18 investors have backed Dream Security across its funding rounds, including Group 11, Tru Arrow Partners, Bain Capital Ventures, Aleph, Tau Capital and Antler.
Lead investors include Bicycle Capital, Group 11, 7GC & Co, Bain Capital Ventures and Aleph.
Dream Security Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Oct 2022 | ||
| 3 | Participant | Feb 2025 | ||
| 2 | Participant | Feb 2025 | ||
| 2 | Lead | Nov 2023 | ||
| 2 | Lead | Feb 2025 | ||
| 1 | Participant | Oct 2022 | ||
| 1 | Participant | Oct 2022 | ||
| 1 | Participant | Feb 2025 | ||
| 1 | Lead | Jun 2026 | ||
| 1 | Participant | Jun 2026 | ||
| 1 | Participant | Oct 2022 | ||
| -- | 1 | Participant | Aug 2025 | |
| 1 | Participant | Jun 2026 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialDream Security Competitors
Dream Security competitors include listed companies like Tenable and Shenzhen Intellifusion, and private ones like Forter, unico IDtech, Forus and Generalist AI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $200M | - | $3B | 15.0x | ||
| Private | $100M | - | $2.6B | 26.0x | ||
| Publicly listed | $999M | $31M | $4B | 3.9x | ||
| Private | - | - | $3B | - | ||
| Private | - | - | $3B | - | ||
| Publicly listed | $200M | ($3M) | $3.1B | 14.6x |
Dream Security Public Comps
Dream Security is still privately-owned, but its public comps include Cellebrite, Shenzhen Intellifusion, Infleqtion, AvePoint, NetScout Systems, Fermi, QiAnXin, SoundHound, Intsig Information and Venustech Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $476M | $79M | 5.4x | 4.8x | 32.3x | 17.3x | |||
| $200M | ($3M) | 14.3x | 14.6x | (952.5x) | (1086.5x) | |||
| $29M | ($52M) | 92.3x | 64.5x | (50.9x) | (60.0x) | |||
| $419M | $42M | 5.9x | 5.1x | 58.4x | 27.4x | |||
| $859M | $163M | 2.6x | 2.6x | 13.9x | 9.5x | |||
| - | ($490M) | - | 281.8x | (7.5x) | (63.2x) | |||
| $655M | ($147M) | 4.6x | 4.5x | (20.4x) | (41.4x) | |||
| $169M | $19M | 14.6x | 11.3x | 132.5x | (35.5x) | |||
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Common questions about Dream Security
| When was Dream Security founded? | Dream Security was founded in 2023. |
| Where is Dream Security headquartered? | Dream Security is headquartered in Tel Aviv, Israel. |
| Is Dream Security publicly listed? | No, Dream Security is a private, VC-backed company. |
| What is Dream Security's valuation? | Dream Security was last valued at $3B in its Series C in June 2026. |
| How much funding has Dream Security raised? | Dream Security has raised $414M across 4 funding rounds. |
| What was Dream Security's last funding round? | Dream Security's last funding round was a $260M Series C in June 2026, led by Bicycle Capital and Group 11. |
| Who are Dream Security's investors? | Dream Security's investors include Group 11, Tru Arrow Partners, Tau Capital, Aleph, Bain Capital Ventures, Shalom Meckenzie, Noam Lanir, XT Venture Capital, Bicycle Capital, BRV Capital Management and 8 others. |
| What is Dream Security's revenue? | Dream Security's latest recorded revenue is $100M (August 2025). |
| What is Dream Security's revenue multiple? | Dream Security's latest valuation implies a 13.0x revenue multiple ($1.3B valuation on $100M of revenue). |
| Which companies are comparable to Dream Security? | Companies comparable to Dream Security include Forter, unico IDtech, Tenable, Forus, Generalist AI and Shenzhen Intellifusion. |
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