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Digital Identity, Security & Online Fraud

Israel's ThetaRay raises over USD 30 mln to fight money laundering

Tuesday 3 July 2018 | 01:06 PM CET

Israel’s ThetaRay, which uses mathematics to provide early detection from cyber threats, has completed a fundraising round of over USD 30 million.

So far, the total amount raised is over USD 60 million. Investors include Jerusalem Venture Partners, General Electric, Bank Hapoalim, Israel’s OurCrowd and SVB Investments.

The company, which has doubled in size every year for the past five years, said for Reuters it will use the capital to expand its presence in Europe, Asia and the US and significantly increase its workforce to meet a growing demand for systems that fight financial crime and money laundering.

ThetaRay uses machine learning and artificial intelligence technology to help financial institutions identify the earliest signs of money laundering.

More: Link
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