ThetaRay Valuation, Funding & Investors
ThetaRay is valued at $50M as of February 2018.
Last ThetaRay valuation
$50M
Series A · Feb 2018
Last ThetaRay funding round
$57M
Series D · Sep 2023
Cumulative funding ThetaRay raised
$170M
across 9 funding rounds
Key investors in ThetaRay
Jerusalem Venture Partners (JVP)
OurCrowd
GE Ventures
R136 Ventures
Bank Hapoalim
Poalim Equity
About ThetaRay
ThetaRay is a Tel Aviv-headquartered fintech company that provides an AI-powered transaction monitoring platform for anti-money laundering detection. Its solutions scan financial transactions at banks and institutions to flag illicit activities, incorporating algorithms for cybersecurity and operational risk management. ThetaRay serves global clients including Santander and BSCH, processing billions of transactions annually.
Founded
2013
HQ
Hod HaSharonWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$50M (Feb 2018)
ThetaRay Valuation
ThetaRay is currently valued at $50M, based on its Series A in February 2018.
The $6M round included R136 Ventures.
ThetaRay valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2018 | Series A | $50M |
ThetaRay Funding History
ThetaRay has raised a total of $170M across 9 funding rounds.
ThetaRay's first fundraising round was a $4M seed round in August 2013. The most recent completed round was a $57M Series D in September 2023.
ThetaRay funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2023 | Series D | Portage Ventures (lead); R136 Ventures; Jerusalem Venture Partners (JVP); LIP Ventures Boutique; OurCrowd; Bossa Invest | $57M | - | ThetaRay is an Israeli fintech company founded in 2013 that provides AI-powered transaction monitoring and screening solutions for financial crime detection. The company's cloud-based Sonar platform uses proprietary and patented artificial intelligence technology to monitor financial transactions and enable the secure flow of funds across global payment networks by establishing trusted transactions and identifying illicit activity. In September 2023, ThetaRay raised $57 million in a Series D growth round led by Portage Ventures, with participation from existing investors including Jerusalem Venture Partners (JVP), OurCrowd, and others. The round was notably oversubscribed, and the company confirmed its valuation increased significantly compared to the prior round, though the specific post-money valuation figure was not disclosed publicly. The proceeds were designated for accelerating global expansion across North America, South America, Europe, Africa, and Asia, with the company already maintaining offices in New York, Madrid, London, Dubai, and Tel Aviv. At the time of the funding announcement, ThetaRay had demonstrated strong traction with a 10x growth in customer base over the prior two years and a 5x increase in annual recurring revenue during the same period. Recent customers included Nigerian paytech VigiPay and UK open banking fintech Noda. The company's leadership team included newly appointed CEO Peter Reynolds, who was promoted from Chief Revenue Officer, alongside Founder and Chairman Erel Margalit. With the Series D round, ThetaRay had raised approximately $150 million to $160 million in total funding to date (sources vary slightly). The company positioned itself in a $9 billion addressable market for anti-money laundering and financial crime-fighting tools, where banks and fintechs were actively seeking to replace legacy compliance systems with next-generation AI-driven solutions. |
| May 2021 | Series C | Benhamou Global Ventures (lead); Jerusalem Venture Partners (JVP) (lead); Saints fund; Bank Hapoalim; SBT fund; OurCrowd | $31M | - | ThetaRay is an Israeli fintech company developing AI-powered solutions for financial crime prevention, including transaction monitoring and screening to detect money laundering and enable secure cross-border payments for banks and fintechs. Its cloud-based Sonar platform uses proprietary AI to analyze transactions accurately, helping institutions like Santander, Travelex, Mashreq Bank, MFS Africa, and ClearBank reduce risks and expand business. On May 18, 2021, ThetaRay raised $31 million in a Series D round co-led by Benhamou Global Ventures and Jerusalem Venture Partners (JVP), with participation from OurCrowd, Saints Capital (SBT fund), Bank Hapoalim, and others, bringing total funding to around $112-154 million across multiple rounds. The 2021 round aimed to support ThetaRay's growth in accelerating cross-border payments and protecting banks from financial crimes. Subsequent reports note 10x customer growth and over 5x ARR increase in the two years prior to the 2023 $57M Series E round led by Portage, with JVP and OurCrowd participating. ThetaRay operates in the $9 billion AML tools market, focusing on areas like correspondence banking to distinguish legitimate from illicit transactions. The company has raised over $167 million total by 2023 across 11 rounds, with offices in New York, Madrid, London, Dubai, and Tel Aviv, and plans for global expansion and potential IPO. |
| Aug 2019 | Undisclosed stage | OurCrowd | $15M | - | - |
| Jun 2019 | Strategic investment | ABN AMRO Fund | - | - | ThetaRay is an Israeli company whose AI-based software screens payments and monitors transactions so banks can detect money laundering, terrorist financing and other financial crime. On 12 June 2019 the ABN AMRO Digital Impact Fund, the venture arm of the Dutch bank, took a minority stake in the company. The financial terms were not disclosed. ABN AMRO already used ThetaRay software in its own gatekeeping work, and said the investment strengthened that working relationship. |
| Jul 2018 | Series B | Jerusalem Venture Partners (JVP) (lead); SVB Capital; R136 Ventures; Bank Hapoalim; GE Ventures; OurCrowd; La Maison ITF | $30M | - | ThetaRay is an Israeli AI-powered financial crime detection company founded in 2013 and headquartered in Hod Hasharon. The company provides a cloud-based transaction monitoring and screening solution called Sonar that uses patented AI algorithms to detect anomalies and suspicious activities in financial transactions, serving banks and fintechs globally. ThetaRay's technology reduces investigation times by over 50% and achieves a 99% accuracy rate in minimizing false positives. The company has raised a total of $167.5 million across 11 funding rounds as of the latest available data. In September 2023, ThetaRay closed a Series E funding round of $57 million led by Portage Ventures, with participation from existing investors Jerusalem Venture Partners, OurCrowd, and other investors. With this funding, the company aimed to accelerate international expansion across continents and capitalize on significant market demand from banks and fintechs seeking to replace legacy financial crime detection technologies. In the two years preceding the 2023 round, ThetaRay reported growing its customer base by 10x and achieving annual recurring revenue growth exceeding 5x, with notable recent clients including Nigerian paytech VigiPay and UK open banking fintech Noda. |
| Feb 2018 | Series A | R136 Ventures | $6M | $50M | - |
| Dec 2015 | Strategic investment | Bank Hapoalim; Jerusalem Venture Partners (JVP); GE Ventures | $17M | - | - |
| Jul 2014 | Series A | Jerusalem Venture Partners (JVP); Poalim Equity; GE Ventures | $10M | - | - |
| Aug 2013 | Seed | Jerusalem Venture Partners (JVP); Poalim Equity; GE Ventures | $4M | - | ThetaRay's September 2023 Series C round raised $57 million led by Portage with support from existing investors including JVP and OurCrowd. ThetaRay is an Israeli AI-powered transaction monitoring platform founded in 2013, based in Hod Hasharon, that provides financial crime detection solutions for banks and fintechs. |
Who has invested in ThetaRay?
15 investors have backed ThetaRay across its funding rounds, including Jerusalem Venture Partners (JVP), OurCrowd, GE Ventures, R136 Ventures, Bank Hapoalim and Poalim Equity.
Lead investors include Portage Ventures, Benhamou Global Ventures and Jerusalem Venture Partners (JVP).
ThetaRay Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Jerusalem | 6 | Lead | Aug 2013 | |
 Menlo Park | 4 | Participant | Aug 2013 | |
| Jerusalem | 4 | Participant | Jul 2018 | |
 George Town | 3 | Participant | Feb 2018 | |
| Tel Aviv | 3 | Participant | Dec 2015 | |
| Tel Aviv | 2 | Participant | Aug 2013 | |
| San Francisco, CA | 1 | Lead | May 2021 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Saints fund | -- | 1 | Participant | May 2021 |
| San Francisco, CA | 1 | Participant | Jul 2018 | |
 Toronto | 1 | Lead | Sep 2023 | |
 Mexico City | 1 | Participant | Sep 2023 | |
| SBT fund | -- | 1 | Participant | May 2021 |
 Netherlands | 1 | Participant | Jun 2019 | |
This data is available for Pro users. Sign up to see all 15 ThetaRay investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by ThetaRay
ThetaRay has acquired 1 company to date.
Last acquisition by ThetaRay was on July 30th 2024. ThetaRay acquired Screena for undisclosed valuation.
Latest Acquisitions by ThetaRay
| Description | Screena is a platform offering syntactic, phonetic, semantic, and multicultural name matching services. The technology verifies identities across languages and scripts for KYC processes in banking and finance. Screena processes passports, IDs, and watchlists with fuzzy matching algorithms. Financial institutions use it to reduce false positives in sanctions screening and fraud detection. |
| HQ Country |  |
| HQ City | Namur |
| Deal Date | 30 Jul 2024 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all ThetaRay acquisitions and their M&A valuation multiples. Start Free Trial | |
Common questions about ThetaRay
| When was ThetaRay founded? | ThetaRay was founded in 2013. |
| Where is ThetaRay headquartered? | ThetaRay is headquartered in Hod HaSharon, Israel. |
| Is ThetaRay publicly listed? | No, ThetaRay is a private, VC-backed company. |
| What is ThetaRay's valuation? | ThetaRay was last valued at $50M in its Series A in February 2018. |
| How much funding has ThetaRay raised? | ThetaRay has raised $170M across 9 funding rounds. |
| What was ThetaRay's last funding round? | ThetaRay's last funding round was a $57M Series D in September 2023, led by Portage Ventures. |
| Who are ThetaRay's investors? | ThetaRay's investors include Jerusalem Venture Partners (JVP), GE Ventures, OurCrowd, R136 Ventures, Bank Hapoalim, Poalim Equity, Benhamou Global Ventures, Saints fund, SVB Capital, Portage Ventures and 5 others. |
| How many companies has ThetaRay acquired? | ThetaRay has acquired 1 company, including Screena. |
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