Israel’s ThetaRay raises $30 million in latest funding round

The israeli startup uses advance mathematics in machine learning and artificial intelligence technologies to help financial institutions identify the earliest signs of money laundering.

On Tuesday, Israel’s ThetaRay stated, it has completed a funding round in which it raised more than $30 million, bringing the total amount it raised to date to more than $60 million.

Its investors include General Electric, Jerusalem Venture Partners, Israel’s SVB Investments and OurCrowd and Bank Hapoalim.

ThetaRay, which doubled its size every year for the last five years, stated it will use the funds to expand its presence in Asia, Europe and the in U.S.. It also plans on significantly increase its workforce to meet a growing demand for systems that fight financial crime and money laundering.

ThetaRay uses advance mathematics in machine learning and artificial intelligence technologies to help financial institutions identify the earliest signs of money laundering.

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