Shalev Hulio
About Shalev Hulio
Shalev Hulio is an Israeli technology entrepreneur focused on cybersecurity, artificial intelligence and national security. He is Co-Founder and CEO of Dream, a sovereign AI and cybersecurity company that builds systems for governments and critical infrastructure to operate AI securely within their own environments.
Hulio co-founded NSO Group, the Israeli company behind the Pegasus spyware, and served as its CEO. Reuters reports that he cut ties with NSO in 2022 after Meta accused the company of targeting WhatsApp and its users. The Intercept reports that he stepped down in August 2022. Tracxn lists CommuniTake, started in 2007, among the companies he founded.
He founded Dream in January 2023 with former Austrian Chancellor Sebastian Kurz and cyber expert Gil Dolev. Dream raised $33 million in November 2023 and a $100 million round led by Bain Capital Ventures at a $1.1 billion valuation in 2025. Reuters reported a $260 million round at a $3 billion valuation in June 2026.
Hulio's angel record is small and mostly undisclosed. Crunchbase counts 2 investments, 2 portfolio companies and no lead investments. PitchBook lists two deals: GoFlow in March 2015 and a seed round in Loola in August 2018. PitchBook shows no deal sizes. Tracxn lists one angel investment. The sources differ on the count, so treat any total as approximate.
No public angel investments by Hulio in AI companies were found. His AI work is as an operator. At Dream he is building AI-based cyber defense for nations and critical infrastructure, including a Cyber Language Model. He has described the company's thesis as AI versus AI cyber warfare, in an interview with The Times of Israel.
Hulio has not published a check size, preferred stage or investment thesis that we could find. The public record is too thin to say which stages he backs. His operating focus is cybersecurity, AI and national security, with Dream selling to governments in Israel, Europe, the US and Latin America. Founders pitching him should expect interest to follow that focus, but this is an inference and not a stated policy.
- Loola: entertainment software company. PitchBook lists a seed round with Hulio in August 2018.
- GoFlow: social platform software company. PitchBook lists a 2015 investment and an exit, and marks the company out of business.
- crunchbase.com/person/shalev-hulio
- pitchbook.com/profiles/investor/109702-54
- tracxn.com/d/people/shalev-hulio/__XG-KzVAKz9Vf98oHndiQXirSJADZZMtrhqR
- finance.yahoo.com/technology/ai/articles/israeli-cyber-startup-dream-r
- timesofisrael.com/israeli-cyber-unicorn-valued-at-3-billion-aims-to-he
- jewishnews.co.uk/dream-becomes-israels-first-cyber-unicorn-of-2025
- theintercept.com/2024/01/18/israel-nso-group-shalev-hulio-dream-securi
- cybermagazine.com/articles/startup-dream-raises-funding-to-drive-globa
Investing activity
Shalev Hulio has made 2 investments according to Crunchbase across 2 portfolio companies, and has seen 1 exit and founded 6 companies.
Deals
Frequently asked questions about Shalev Hulio
Does Shalev Hulio invest as an angel?
Yes, on a limited scale. Crunchbase counts 2 investments and PitchBook lists GoFlow (2015) and Loola (2018). He is mainly a full-time founder and CEO at Dream.
What is Shalev Hulio's check size?
No check size is public. Neither Crunchbase nor PitchBook shows deal sizes for his angel investments, and we found no statement from him on it.
What does Shalev Hulio do now?
He is Co-Founder and CEO of Dream, a sovereign AI and cybersecurity company serving governments and critical infrastructure. He is based in Tel Aviv.
What companies has Shalev Hulio founded?
He co-founded NSO Group and Dream. Tracxn also lists CommuniTake, and Crunchbase counts 6 companies founded in total.
What stage does Shalev Hulio invest in?
His preferred stage is not public. His one dated deal with a stage label is a 2018 seed round in Loola, which is too little to infer a pattern.
Should AI founders pitch Shalev Hulio?
Only if the company fits cybersecurity, AI security or national security, which is his operating focus. He has no public investing thesis, and his time is largely committed to running Dream.
Is Shalev Hulio an angel investor?
Yes. Shalev Hulio invests personally as an angel and is Co-Founder & CEO at Dream. Crunchbase counts 2 investments and 1 exit.
Where is Shalev Hulio based?
Shalev Hulio is based in Tel Aviv, Tel Aviv, Israel.
How can founders reach Shalev Hulio?
Founders on Lounge can see Shalev Hulio's contact details in AI Investor Contacts (paid plans), check for a warm introduction through members who worked with them under Warm Paths, and add Shalev Hulio to their Investor Pipeline to track the conversation.