Industry Big data analytics Headquarters Hod HaSharon, Israel Type of business Private | Website www.thetaray.com Founded 2013 | |
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Founders Ronald Coifman, Mark Gazit, Amir Averbuch | ||
ThetaRay is a cyber security and big data analytics company with headquarters in Hod HaSharon, Israel, and offices in New York and Singapore. The company provides a platform for detection of unknown threat and risks to protect critical infrastructure and financial services. The platform is also used to uncover unknown opportunities based on big data. The company utilizes patented mathematical algorithms developed by the company founders.
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History
ThetaRay was founded in 2013 by Amir Averbuch and Ronald Coifman. Averbuch is a professor of computer science at Tel Aviv University with a main research focus on big data processing and analysis. Coifman is a professor mathematics at Yale University and recipient of the 1999 National Medal of Science. His main research focus is on efficient computation and numerical analysis. Mark Gazit, an international security expert and serial startup entrepreneur, is co-founder and CEO of ThetaRay.
In June 2013, ThetaRay raised its seed funding from Jerusalem Venture Partners (JVP) as part of their cyber security portfolio. Two months later, General Electric (GE) joined JVP as an investor and ThetaRay launched its Advanced Analytics Platform for big data. It was followed by operational risk solutions for financial organizations in April 2015. In July 2015, ThetaRay opened an office in New York and two months later launched its Credit Risk Detection Model for online lending. In December 2015, ThetaRay and PricewaterhouseCoopers signed a Joint Business Relations agreement. ThetaRay has customers such as ING Group that purchased ThetaRay’s Advanced Analytics solution for fraud detection. ThetaRay opened an office in Singapore in July 2016.