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ThetaRay Scores $30 Million Series B for AI-Powered Security

July 05, 2018 / Jessica Lyons Hardcastle

ThetaRay, a security startup whose threat-detection technology helps financial institutions and critical infrastructure protect against attacks, raised $30 million in a Series B round. This brings its total funding to $60.5 million. Investors in the Israel-based company include Jerusalem Venture Partners (JVP), GE, Bank Hapoalim, OurCrowd, SVB Investments, and others. The company says it will use the funding to expand its presence in Europe, Asia, and the U.S. and grow its workforce and operations. “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,” said Mark Gazit, CEO of ThetaRay, in a statement. “As the amount of digital information grows, you just can’t protect it without artificial intelligence systems.”