ThetaRay Raises over $30 million New Round will Help Meet the Demand for Machine Learning Solutions to Combat Financial Crime and Boost Operational Efficiency

NEW YORK, July 3, 2018 – ThetaRay, a leader in AI and big data analytics that offers solutions for crime prevention, operational efficiency and threat detection, announced that it has completed a fund-raising round of over $30 million. With the latest investment, the company has raised more than $60 million. The round was significantly oversubscribed. Investors include Jerusalem Venture Partners (JVP), GE, Bank Hapoalim, OurCrowd, SVB Investments and others.

ThetaRay has shown rare growth in its five years of operation, doubling in size every year. The company will use the capital to expand its presence in Europe, Asia and the US, significantly increase its workforce and scale operations to meet the growing demand for systems that fight financial crime and money laundering.

ThetaRay machine learning and artificial intelligence technology helps financial institutions identify the earliest signs of money laundering. It is based on patented algorithms developed by world-renowned mathematicians over a decade, and can detect anomalies in real-time, radically reduce false positives, and uncover “unknown unknowns”. The company recently won The Asian Banker Risk Management Award for the best technological solution to comply with regulation of financial institutions.

Mark Gazit, CEO of ThetaRay, said: “In this era when criminal activity and money laundering are increasing and becoming more sophisticated and also regulation is on the rise, there is a greater demand for our solutions. As the amount of digital information grows, you just can’t protect it without artificial intelligence systems. ThetaRay offers the most advanced and mature solutions to detect threats before they happen. We thank the existing investors, especially JVP, for their confidence in ThetaRay, and welcome the new ones joining in this round.”

“Financial crime, money laundering, fraud and advanced integrated cyber attacks on financial institutions pose a growing systemic risk that has already put banks out of business,” stated Yoav Tzruya, General Partner at JVP and founding investor of ThetaRay. ”Existing systems fall short of addressing the agility and innovation of rogue organizations, fraudsters and hackers. ThetaRay is uniquely positioned to address this significant market pain, through its no-rules, holistic, AI-driven solution to identify such events, while significantly reducing the operating cost for banks.”

“Bad news for financial hackers, ThetaRay’s new $30 million round means that the bad guys are going to have to work that much harder for much less return,” said Jon Medved, CEO, OurCrowd, a leading equity crowdfunding platform. “My simple advice to you is: find another line of work.“

About ThetaRay:

ThetaRay is a leading Artificial Intelligence and big data analytics company, helping financial organizations, cybersecurity divisions and critical infrastructure become more resilient and seize opportunities. Its advanced analytical solutions operate with unprecedented speed, accuracy, and scale, enabling clients to manage risk, detect money laundering schemes, uncover fraud, expose bad loans, uncover operational issues and reveal valuable new growth opportunities.

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Jerusalem Venture Partners™ is a leading international Fund with strong presence in Israel and New York. For the past 30 years, JVP has been instrumental in building some of Israel’s international category leaders, scaling them to North America, Europe and Asia, with significant ownership positions. JVP invests early, taking large positions on a low-cost basis, and then invests in the companies again, to maintain and increase its position, with leading third party international Funds.

A Defining Moment for Cybersecurity, for JVP, and for Israel/US Cooperation: CyberArk’s $25B Merger with Palo Alto Networks

Last week marked a moment of both pride and reflection for all of us at JVP. The announcement of CyberArk’s $25 billion acquisition by Palo Alto Networks is not just a landmark deal in the cybersecurity landscape—it’s a powerful validation of the JVP Way, our approach to company building that continues to define our firm today.

While we are no longer CyberArk shareholders, having exited our position a few years after its IPO, we were proud to have been CyberArk’s leading and largest shareholder from its early days to several years after it became a public company and its emergence as an international category leader. While I was Chairman of the company, we partnered closely with the founders during the most formative years of its journey. Back in 2011, when many investors were ready to sell the company for $120 million, JVP chose to reinvest and increased our position to 47%, buying out early shareholders, bringing in Goldman Sachs as an equity investment partner, and partnering with management to lay the foundation for a strong international expansion. That pivotal moment gave the company the opportunity to scale into a true global market leader.

CyberArk has always been ahead of the curve—pioneering insider threat protection, secrets management, machine-to-machine authentication, and most recently, preparing the world for secure Agentic-AI infrastructure. Its merger with Palo Alto Networks positions it to lead the AI era with a fully integrated, end-to-end security platform.

We invite you to revisit JVP’s unique role in CyberArk’s growth in this Forbes feature, Reuters press, and from CyberArk’s newsroom.

This milestone is a reminder that JVP’s tried and true approach – invest, reinvest, roll up our sleeves, and work diligently alongside founders and management teams to build category leading global companies – works. The JVP Way, developed over 30 years, is what enables JVP to build companies that lead and transform industries to the benefit of our investors.

Today, we continue to apply the same methodology to our current portfolio with company after company surpassing the $100 million revenue threshold, with JVP owning 40% or more, as they too become category-leading international businesses.