ThetaRay, a Hod HaSharon, Israel-based provider of AI and big data analytics solutions for crime prevention, operational efficiency and threat detection, completed an over $30m funding round.
Backers included Jerusalem Venture Partners (JVP), GE, Bank Hapoalim, OurCrowd, SVB Investments and others.
The company, which has raised more than $60m in total funding, intends to use the capital to expand its presence in Europe, Asia and the US, increase its workforce and scale operations.
Led by Mark Gazit, CEO, ThetaRay has developed machine learning and artificial intelligence technology that allows financial institutions to identify the earliest signs of money laundering. It is based on patented algorithms developed by mathematicians over a decade, and can detect anomalies in real-time, manage risk, detect money laundering schemes, uncover fraud, expose bad loans, uncover operational issues and reveal valuable new growth opportunities.