ThetaRay, an Israeli cyber security startup, on Tuesday announced that it has raised $10 million from investors. Participants in the round included industrial giant General Electric Company, Jerusalem Venture Partners and Palim Capital Markets Ltd.
The technology used by ThetaRay – which was born out of research from professor Amir Averbuch of Tel-Aviv University and Yale’s Ronald Coifman – uses advanced mathematical algorithms to learn the “normal” behavior of a system, and flag anomalies, like a cyber-intrusion, when they occur. The software can run on-site as well as in the cloud, and according to CEO Mark Gazit, ThetaRay’s unique security analytics allows the startup to notice irregularities in data quicker than its competitors.
“Although the concept of looking for anomalies and unknown threats in Big Data is not new, ThetaRay’s differentiator is its ability to identify them without any prior knowledge about the data, and without using any patterns, heuristics, signatures or behavioral analysis,” Gazit said.
“Our solution allows for totally unsupervised operation and provides our customers with a very high detection rate yet very low false positives.”
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ThetaRay said in a statement that it will focus its recent investment to expand into the U.S. cyber security market and establish its headquarters in the country. According to ZDNet, the company has seen increased demand for its platform over the past 12 months, and the latest funding round was over-subscribed.
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(Image Credit: Ivan David Gomez Arce)