NEW YORK and HOD HASHARON, Israel, July 1, 2020 /PRNewswire/ -- ThetaRay, the leading provider of Big Data analytics, preventing financial cybercrime, today named Jerusalem Venture Partners (JVP) Founder and Chairman Erel Margalit as Chairman of its Board of Directors.
Considered one of the architects of Israel's "Startup Nation," a world-renowned entrepreneur himself, Erel Margalit founded international-leading venture capital firm JVP. Under Margalit's leadership, JVP has invested over $1.4 billion in hundreds of technology companies, nurturing major market leaders, and orchestrating some of the largest exits in the technology world. JVP was selected by the City of New York as its partner to transform the city into the cyber capital of the world. Opened earlier this year in the heart of SOHO, "Margalit Startup City" was established in partnership with key players in the New York tech ecosystem. It is also home to JVP's flagship international cyber center, where ThetaRay's US offices are based. Margalit, who was selected by Forbes magazine as one of the 50 top venture capitalists in the world ("Gold Contact List") will help guide ThetaRay on its journey to reach new goals.
Established in 2013, ThetaRay has during the past year been recognized by several industry analyst firms and media outlets as a leader in financial cybercrime detection. The company was commended by Frost & Sullivan for its AI-powered advanced analytics platform. Furthermore, the FinTech Breakthrough Awards named ThetaRay "Best Company for Fraud Prevention," and CIO.com identified the company as one of the top 10 Israeli tech startups shaping the world of financial services today.
"This new era for the global economy significantly increases financial crime," said Margalit. "Cybercrime is a threat to society in every aspect, from trust funds and international corporations to money laundering, terror financing, and human trafficking. Leading financial industries are searching for a solution -- one that is capable of tracking and alerting suspicious money transferring. ThetaRay's solution is the ideal match. The company is currently at a monumental point and is led by a group of brilliant researchers and professionals who have done a wonderful job over the years. I am delighted to have the opportunity to join the ThetaRay team as Chairman of the company, and am confident that with the right steps, we will grow this company into a world leader within several years."
ThetaRay CEO Mark Gazit added, "In a digital era, when organizations are dealing with a significant increase in cybercrime, ThetaRay offers a solution to those companies in need. I believe that Erel's appointment as Chairman of ThetaRay, in combination with his venture capital leadership and knowledge of the tech world, will lead the company to the top. Erel's extensive experience in leading JVP portfolio companies to a global leadership position will help ThetaRay to not only significantly expand its financial operations, but also break into other industries. "
Margalit's appointment follows ThetaRay's recent collaboration agreement with leading European bank Santander, which adopted ThetaRay's anti-money laundering (AML) solution for correspondent banking. Margalit stated, "Santander's decision to embed ThetaRay's unique technology is another meaningful milestone in the ongoing fight against financial crime, terrorist financing and human trafficking. Santander leads a new banking concept committed to its duty to prevent financial crime, and joins a long line of banks and financial institutions that have already implemented ThetaRay's technology, therefore meeting stringent banking industry regulations. I believe Santander will become a model for more banks and together with ThetaRay will lead a real revolution in the fight against financial crime."
About ThetaRay
ThetaRay helps clients in large financial organizations, security and cyber divisions and critical infrastructure become more resilient and take advantage of opportunities. Its advanced analytics solutions operate at an unprecedented speed, accuracy, and scale, enabling clients to manage risk, identify money laundering, uncover fraud and bad loans. ThetaRay provides the only proven end-to-end artificial intuition solution, from data integration to alert resolution. It provides innovative data integration and quality capabilities, augmented monitoring and unregulated data detection capabilities, and a unified platform machine learning technology, portfolio management and advanced analytics capabilities. Organizations that rely on highly heterogeneous and complex environments benefit from ThetaRay's unmatched disclosure and low false positive rates. www.thetaray.com
About JVP
Jerusalem Venture Partners (JVP), founded and led by Dr. Erel Margalit, is an internationally renowned venture capital fund. JVP has raised $1.4 billion to date across nine funds, and has been listed numerous times by Preqin, and other rankings, as one of the top-ten consistently performing VC firms worldwide. JVP has built over 140 companies, leveraging a broad network of partners and market expertise to help companies become global market leaders. JVP was recently chosen by New York City and EDC to lead the cyber security cyber hub in NYC. Among the pioneering firms of the Israeli venture capital industry, JVP has been instrumental in building some of the largest companies out of Israel and facilitating 12 Initial Public Offerings on NASDAQ. https://www.jvpvc.com
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Mark Prindle
Fusion PR
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