Company Overview
Snapshot
Founded in June 2013 by Amir Averbuch and Mark Gazit, ThetaRay operates with 201–500 employees. The company has raised over $156 million across 9 funding rounds from 14 investors, with Portage Ventures leading a round in September 2023. In July 2024, ThetaRay acquired European screening company Screena to enhance its AI-powered financial crime detection capabilities.
Business overview
ThetaRay is an artificial intelligence and big data analytics company that develops advanced analytical solutions for financial organizations, cybersecurity divisions, and critical infrastructure. Its core technology leverages AI to operate with high speed, accuracy, and scale, enabling clients to manage risk, detect money laundering schemes, uncover fraud, expose bad loans, and identify operational issues. The company's solutions primarily serve the financial services industry, including banks and fintechs, operating within the Cyber Security and Fintech & Insurtech sectors.
Strategic signal
In July 2024, ThetaRay acquired Screena, a European screening company. This acquisition is strategically significant as it enhances ThetaRay's proprietary technology for AI-powered financial crime detection, providing financial institutions with a more holistic view of transactional and customer screening risks. This move signals a strong commitment to expanding its AI capabilities and market presence in the anti-money laundering (AML) and compliance space.
Log in to access full profile ›Company Intelligence Q&A
- What was a key strategic development for ThetaRay in July 2024?
- In July 2024, ThetaRay acquired Screena, a European screening company. This acquisition is aimed at enhancing ThetaRay's AI-powered financial crime detection technology, providing financial institutions with a holistic view of transactional and customer screening risks and ensuring compliance with international regulations.
- Which investors participated in ThetaRay's September 2023 funding round?
- In September 2023, ThetaRay raised a growth round led by Portage Ventures, with participation from JVP.
- What was the nature of ThetaRay's partnership with Microsoft in July 2023?
- In July 2023, ThetaRay made its AI-based transaction monitoring solution, SONAR, available on the Microsoft Azure Marketplace. This move positioned ThetaRay as a Microsoft Cloud Solution Provider, allowing banks and fintechs to access its cloud-based SaaS system for regulatory compliance and risk reduction.
- What was the outcome of ThetaRay's partnership with ClickSendNow in July 2023?
- In July 2023, South African fintech company ClickSendNow partnered with ThetaRay to integrate ThetaRay's SONAR platform. This integration was intended to enhance ClickSendNow's automated transaction monitoring and sanction screening operations, helping to combat financial fraud and money laundering.
- What was a significant management change at ThetaRay in September 2023?
- In September 2023, Peter Reynolds was promoted from Chief Revenue Officer to CEO of ThetaRay. This change was part of the company's strategic leadership adjustments following a growth funding round.