Salem Radio Network News Monday, September 25, 2023


Israel’s ThetaRay raises $57 million in private round

(Removes reference in paragraph 1 to ThetaRay being a cyber security firm)

JERUSALEM (Reuters) -Israel’s ThetaRay said on Tuesday it raised $57 million in a private funding round led by global fintech platform Portage.

ThetaRay’s technology uses artificial intelligence to identify financial cyber threats like money laundering so users can take action against suspicious transactions.

It said the latest financing will enable the company to accelerate global growth plans and capitalize on significant market demand, as banks and fintechs seek to replace legacy tools with next-generation financial crime detection technology.

“Global payment infrastructure too often fails to accurately differentiate between perfectly legitimate transactions and ones from bad actors dealing with illicit funds,” said Peter Reynolds, CEO of ThetaRay.

Venture capital funds JVP, the largest investor in ThetaRay, OurCrowd and others also participated in the funding round.

(Reporting by Steven Scheer)


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