ThetaRay
ThetaRay sells AI-powered fraud detection software to financial institutions, having raised $170M in funding including a Series D in 2023. The company employs 244 people.
The growth story
ThetaRay grew from 108 to 244 employees between 2021 and 2026, raising $170M along the way, most recently a Series D in September 2023.
About
ThetaRay develops AI systems that flag suspicious financial transactions, replacing traditional rule-based fraud detection. Banks and payment processors use it to reduce compliance costs and false positives in anti-money laundering efforts.
The company has raised $170M, with backers including ABN AMRO and GE. Its engineering team accounts for 21% of headcount, with median employee tenure at 2 years.
Founders and leadership
Engineering is the largest department with 51 staff. The company has a typical Israeli tech leadership profile, with multiple founders coming from defense and intelligence backgrounds.
The ThetaRay org chart
Amir Averbuch (Co-Founder) leads 58 mapped leaders with 8 direct reports. Click +N to expand a team; names link to the person’s public profile.
Departments, and which ones grew
Headcount by function: Engineering 54 (-4% YoY), Information Technology 34 (-17% YoY), Sales 20 (-26% YoY), Business Development 17 (+6% YoY), Finance 15 (-21% YoY), Marketing 12 (+9% YoY).
Talent flow
18 employees previously served in the Israel Defense Forces, reflecting the company's security focus. Alumni most frequently move to JFrog and Deloitte, with 3 hires each.
Most common previous employers of ThetaRay staff: Israel Defense Forces (18), Amdocs (7), Israeli Military Intelligence (7), Kaltura (6), NICE Actimize (6), Citi (5). Former ThetaRay employees most often moved to JFrog (3), Deloitte (3), Forter (2), Nova (2), WiseStamp (2), IBM (2).
Alumni worth knowing
The ThetaRay mafia
Founders have spun out at least 11 companies, including Gartner, Multimodal, and Shield-IoT. These ventures span AI, IoT security, and enterprise software.
11Ayelet Heyman, was VP Research until 2016Ankur Patel, was Data Scientist until 2018Udi Solomon, was VP Product Marketing until 2017Ohad Levin, was Head of Software Development, Director of Engineering until 2016Pablo Maximiliano Gallo, was Implementation Engineer until 2025
Shiri Septon - Etchin, was CFO and Deputy CEO until 2018
Gabriela Iglesias, was Enterprise Account Executive | LATAM until 2025
Aron Rissman, was Chief of Staff: Growth Director, Business Development, Investor Relations until 2022
Adi Ben-Tsedef, was Senior Product Manager until 2021
Rafael Kaduri, was Senior Director of Customer Success until 2020Hiring now
Web traffic
Traffic mix: 39% direct, 21% search, 28% social, 5% paid.
What this company is made of
Most common skills at ThetaRay: Python (Programming Language) (84), SQL (82), Leadership (70), Project Management (70), Analytical Skills (66), Management (61), Microsoft Office (59), English (59).
Where the team actually sits
ThetaRay people are concentrated in Israel (47), Tel Aviv District, Israel (30), Community of Madrid, Spain (23), Center District, Israel (20). 3 offices on record.
Search footprint
ThetaRay attracts about 0 organic search visits a month, traffic worth roughly $0K a month if bought through ads. It gained 1 ranking keywords and lost 0 in the last period.
Frequently asked
ThetaRay has 244 employees as of September 2026.
ThetaRay has raised $170M in total, most recently a Series D round in September 2023.
ThetaRay was founded in 2013 by Mark Gazit, Amir Averbuch.
Amir Averbuch (Co-Founder) sits at the top of ThetaRay's reporting structure, with 8 direct reports.
The most common previous employers of current ThetaRay staff are Israel Defense Forces (18 people), Amdocs (7 people), Israeli Military Intelligence (7 people).
Former ThetaRay employees most often move to JFrog (3), Deloitte (3), Forter (2).
At least 11 companies have a founder who previously worked at ThetaRay, including Gartner, Multimodal, Shield-IoT.
The most common skills among ThetaRay staff are Python (Programming Language), SQL, Leadership, Project Management, Analytical Skills.
ThetaRay staff are concentrated in Israel (47), Tel Aviv District, Israel (30), Community of Madrid, Spain (23).
ThetaRay has about 54 people in Engineering, down 4% over the past year, as of September 2026.
ThetaRay has about 34 people in Information Technology, down 17% over the past year, as of September 2026.
Computed from 204 current and 255 former ThetaRay profiles, as of September 2026. Source: Crustdata.
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