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{{short description|'''Israeli AI anti-money-laundering and cyber-analytics company; its co-founder and long-time chief executive Mark Gazit came from the Israeli Air Force and NICE Systems' intelligence division'''}}
{{Infobox company
| name = ThetaRay
| logo = ThetaRay_logo.png
| image_size = 220px
| caption = ThetaRay logo
| type = Private company
| founded = {{Start date|2013}} (a "one-year company" in July 2014, according to its chief executive)
| founder = [[Mark Gazit]], [[Amir Averbuch]], [[Ronald Coifman]]
| hq_location = Tel Aviv (according to ''FinSMEs'', 2014)
| industry = Financial technology; anti-money-laundering; cyber security
| services = AI transaction monitoring, sanctions screening and customer risk scoring for banks
| key_people = [[Peter Reynolds]] (chief executive from June 2023); [[Erel Margalit]] (chairman)
| homepage = [https://thetaray.com/ thetaray.com]
}}
'''ThetaRay''' is an Israeli company that sells artificial-intelligence software for detecting money laundering and screening payments against sanctions lists. It began as a "big data analytics" company for "advanced cyber security", based in Tel Aviv, built on algorithms developed by the academics [[Amir Averbuch]] and [[Ronald Coifman]].<ref name="FinSMEsGazit">FinSMEs, [https://www.finsmes.com/2014/07/thetaray-interview-with-ceo-mark-gazit.html ThetaRay, Interview With CEO Mark Gazit] ''FinSMEs'', 29 July 2014, accessed 10 November 2026.</ref> Its co-founder and chief executive until 2023, [[Mark Gazit]], said in 2014: "I have been involved in the cyber security space since my service in the Israeli Air Force" ([[Israeli Air Force]]).<ref name="FinSMEsGazit"/><ref name="TCThetaRay2023">Ingrid Lunden, [https://techcrunch.com/2023/09/05/thetaray-nabs-57m-for-ai-tools-to-id-and-fight-money-laundering/ ThetaRay nabs $57M for AI tools to fight money laundering] ''TechCrunch'', 5 September 2023, accessed 10 November 2026.</ref>

== Founders and military and intelligence links ==
In a 2014 interview with ''FinSMEs'', Gazit said: "I have been involved in the cyber security space since my service in the Israeli Air Force. Before joining ThetaRay, I served as Managing Director of Cyber and Intelligence Solutions for NICE Systems, providing cyber security services to homeland security and classified sectors. For many years, I was also a trusted consultant to homeland security entities in Israel" ([[NICE Systems]]). He named the company's academic founders as "Professors Amir Averbuch and Ronald Coifman, who spent seven years developing the big data anomaly detection algorithms that power our solution", and described ThetaRay as "a one-year company but with ten years of academic research".<ref name="FinSMEsGazit"/> He added that Israel's ecosystem "combines technology, venture capital and military experience to create a flow of people who, at a very young age, have an extensive level of proven experience in cybersecurity".<ref name="FinSMEsGazit"/>

''[[TechCrunch]]'' reported in 2023 that [[Peter Reynolds]], formerly chief revenue officer, had taken over as chief executive in June that year "from co-founder Mark Gazit, who has continued to advise the business".<ref name="TCThetaRay2023"/>

== Funding ==
In 2014 Gazit named ThetaRay's investors as [[General Electric]], [[Jerusalem Venture Partners|JVP]] and [[Bank Hapoalim]], after a $10 million Series B round.<ref name="FinSMEsGazit"/> In September 2023 ThetaRay raised $57 million in a round led by the fintech investor [[Portage]], with JVP and [[OurCrowd]]. ''TechCrunch'' reported that it had raised about $160 million in total, from backers including [[ABN AMRO]], General Electric, [[Alibaba]], [[PwC]] and [[SVB Financial]], and that its chairman was [[Erel Margalit]], who led JVP's investment. Its customers included [[Santander]] and [[Travelex]].<ref name="TCThetaRay2023"/>

== See also ==
* [[NICE Systems]]
* [[Cyber and tech firms founded by ex Unit 8200 or occupation forces veterans]]

== External links ==
* [https://thetaray.com/ Official website]

== Notes ==
<references/>

[[Category:Israel]]
[[Category:Companies]]
[[Category:IDF]]
[[Category:Security Industry]]

ThetaRay - Revision history

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