ThetaRay, a big data analytics solution has closed a $10 million investment round from existing investors as well as new financial and strategic investors.
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Cyber security company ThetaRay has completed a $10 million Series B financing round from previous investors, such as General Electric (GE) , Jerusalem Venture Partners (JVP), and Poalim Capital Markets, participated in the round as well as new financial and strategic investors. . The company said it would use the money raised to consolidate its operations in the US and expand its global presence.
ThetaRay founded in 2013 by Amir Averbuch and Prof. Raphael Ronald Kaufman, has successfully transformed a decade of academic research into a solid analytical platform and threat detection solutions for the protection of critical infrastructure, financial institutions and other industry sectors. Requiring no rules, heuristics or signatures, the mathematically-based platform and layered solutions uncover zero-day attacks, hidden APTs, operational faults, fraud and other threats by simultaneously analyzing all security and operational data sources instantaneously, without having to introduce human or computational biases.
The company’s patented, award-winning platform automatically uncovers unknown cyber and operational threats, allowing customers to take action and avert disaster before any damage occurs. ThetaRay’s core technology is based on algorithms, which power its proprietary Hyper-Dimensional, Multi-Domain Big Data Analytics platform.
“We are impressed by ThetaRay’s ability to generate breakthrough ideas and develop them into real-world customer solutions, ” said Brett May, Head of Venture Capital and Business Development at GE Software. “The company’s unique security analytics, developed over ten years of innovative academic research, have the potential to significantly enhance and help protect the industrial internet and the Internet of Things.“
“It is a very exciting time for ThetaRay, as the demand for its products and technology is rapidly increasing, ” said ThetaRay CEO Mark Gazit. “The market demand for solutions that can identify unknown threats has reached critical mass, and ThetaRay’s field-proven, breakthrough solution set is ideally suited to respond to the demand. The new investment round will help grow the company into a market leader in its domain and drive its international presence.”