Dream, an artificial intelligence company that provides cybersecurity services to governments and critical infrastructure operators such as hospitals and utilities, has raised $100 million at a $1.1 billion valuation. Bain Capital Ventures led the round and was joined by investors including Dovi Frances’ Group 11, Tru Arrow Partners, Abu Dhabi-based Tau Capital and venture firm Aleph, Dream co-founders Shalev Hulio and Sebastian Kurz said in an interview. It marks an almost-sixfold jump from the roughly $190 million valuation ascribed in a November 2023 funding round, said Hulio, the chief executive officer of the Tel Aviv-based company. Hulio, who rose to prominence as a co-founder and former CEO of NSO Group, which makes controversial spyware known as Pegasus that has been used to hack into mobile phones, co-founded Dream in January 2023 alongside Kurz, a former chancellor of Austria, and Gil Dolev. “Cyberattacks can impose real threats to our day-to-day life,” said Hulio, referencing bank ATM outages, the vulnerability of electric grids and utilities and the Colonial Pipeline ransomware attack in 2021, which led to fuel shortages. “Attacks are becoming more sophisticated,” he added, noting that Dream helps its customers prepare for, detect and remediate such situations.

Full report : Dream, which offers cybersecurity tools to governments and critical infrastructure firms, raised $100M led by Bain at a $1.1B valuation, up from $190M in 2023.