Welcome!

News Feed Item

Poalim Capital Markets Invests in Cyber-Security Startup ThetaRay Which Specializes in Protecting Critical Infrastructure

Poalim Joins Investors Jerusalem Venture Partners (JVP) and General Electric

TEL AVIV, Israel, February 10, 2014 /PRNewswire/ --

Poalim Capital Markets (PCM), the investment banking arm of Bank HaPoalim, announced end of January 2014 that it is investing in the startup ThetaRay which specializes in protecting critical infrastructure, as part of Poalim's FinTech investment portfolio.

The move comes in wake of the growing significance of cyber-security for large financial institutions. Throughout the past 18 months, Poalim's FinTech division has partnered with the group's technology division and Poalim Capital Markets to lead key investment initiatives in promising financial technology startups. Suitable candidates receive consulting and guidance from the bank's experts, as well as access to its technological development center, in order to enable them to test their ideas once they reach beta release status.

ThetaRay is a promising cyber-security company that traces its beginnings to the JVP Cyber Labs incubator, having developed a unique solution for the protection of critical infrastructure.

The company was founded by renowned mathematicians Prof. Amir Averbuch of Tel Aviv University, and Prof. Ronald Coifman of Yale, who developed unique algorithms through over 7 years of academic research. The company, led by CEO Mark Gazit, utilizes these unique algorithms to present a new cyber-security paradigm.

ThetaRay's solutions identify Zero Day threats and APT attacks, amongst others. Zero Day exploits are based on previously unknown vulnerabilities that plague computer applications, specifically ones that developers have not addressed or patched before an attacker takes advantage of them. APT attacks are covert hostile operations by unknown attackers who customize the method to their mark, using malicious code and technical skills that are very difficult to detect or identify.

The platform and algorithms developed by ThetaRay were designed to respond to critical infrastructures' need for protection, also common to strategic facilities, communication systems and large-scale financial institutions. Some examples of such entities would be nuclear power plants, command and control systems, telecommunication networks, banks etc. The company's solutions have been successfully deployed by large commercial entities, government, and homeland security organizations in Israel and around the world.

"Cyber-security is one of the fastest growing domains in Israel and on a global scale, and we closely follow its development as part of the FinTech investment portfolio we manage," says Eran Gerscht, Managing Director of Poalim Capital Markets and leader of the group's FinTech investment initiatives. "In a world where critical infrastructures become increasingly dependent on computerized systems and threats are constantly evolving in scope and sophistication, a true need has emerged for the type of cyber-security solution ThetaRay brings to the market. The unique quality of ThetaRay's solution positions it as one of the most interesting companies in the information security and cyber-defense space. The company's activities within the JVP Cyber Labs and its strategic alliance with GE further strengthen the business opportunity we see in it."

Mark Gazit, ThetaRay's CEO adds: "The investment from Poalim, which joins JVP and GE, is wind in ThetaRay's sails and forms a solid recommendation to other large financial institutions to implement the company's unique solution in order to protect their infrastructure. ThetaRay can further detect and expose operational anomalies, beyond the detection of cyber threats, and thus becomes a core solution for every large organization aiming to ensure its continued, secure operations."

"We welcome Bank HaPoalim's decision to invest in ThetaRay, which proved its significant competitive advantage within a very short time by developing a groundbreaking, innovative solution," says Yoav Tzruya, Partner in JVP's Cyber Labs. "ThetaRay's ability to detect threats that other solutions cannot see is a strategic advantage for any financial system that has to ensure its own optimal, continuous up-time.

ThetaRay embodies JVP Cyber Labs' unique investment approach which is based on early stage investment in companies that have a marked potential to change existing paradigms, fusing strategic collaborations the likes of those signed with GE and Bank HaPoalim, and moving it forward towards market leadership and technological breakthrough on an international level."

ABOUT POALIM CAPITAL MARKETS:

Poalim Capital Markets is Israel's leading investment bank providing a full range of global products and services. PCM is a subsidiary of Bank Hapoalim, Israel's largest financial group. Since its establishment in 1990, PCM has played a major role in shaping the Israeli economy by providing international investment banking services, advising on numerous M&A transactions, structuring private equity funds, and leading the local underwriting market (through Poalim IBI).

PCM's diversified Private Equity (PE) platform manages and monitors the group's private equity investment activities locally and internationally, including direct investments and co-investments across a wide range of sectors: alternative energy, life sciences, mezzanine, infrastructure, distressed, turnaround and growth equity

Together with its US strategic partner, William Blair & Company, PCM offers clients end-to-end, best-of-breed international investment banking solutions and advisory services, including public offerings on US exchanges, mergers & acquisitions and cross border private placements.  PCM, in conjunction with international partners in China and India, provide investors and businesses a broad range of cross-border opportunities in some of the fastest growing markets in the world. Poalim Asia Direct, based in Beijing, China, provides tailor-made solutions to foreign corporations seeking the most effective entry, expansion and investment opportunities in China's growing markets. PCM holds 19.97% of Poalim IBI's shares.

ABOUT THETARAY:

ThetaRay was founded by two renowned mathematicians, Prof. Amir Averbuch of Tel Aviv University, and Prof. Ronald Coifman of Yale, tracing its beginning to the JVP Cyber Labs incubator. ThetaRay's solutions detect cyber threats and attacks on critical infrastructure, strategic facilities, communication networks and large financial institutions. The company's products are based on advanced, proprietary mathematical algorithms that were specifically developed with the purpose of collecting, processing and analyzing data from a large variety of sources in order to detect anomalies in a Big Data environment.

The unique algorithms have proven their effectiveness in applications the likes of process supervision, performance monitoring, identifying trends, and more. ThetaRay's solution brought unmatched detection rates of cyber threats on one hand, while drastically reducing the false positives rate on the other. ThetaRay accords complete transparency to the user and is exceptionally efficient from a computational standpoint. The company's technology has been patented both in Israel and internationally. ThetaRay received investments from JVP, GE and Poalim Capital Markets.

Contacts:
Limor Kessem
ThetaRay Marketing Director
[email protected]
+972-52-661-7780

Mark Prindle
PR Firm: Fusion PR (NYC)
[email protected]
+1(212)651-4223

SOURCE ThetaRay

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and micro services. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your contain...
Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, represent...
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, will posit that disruption is inevitable for c...
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
DevOps has often been described in terms of CAMS: Culture, Automation, Measuring, Sharing. While we’ve seen a lot of focus on the “A” and even on the “M”, there are very few examples of why the “C" is equally important in the DevOps equation. In her session at @DevOps Summit, Lori MacVittie, of F5 Networks, explored HTTP/1 and HTTP/2 along with Microservices to illustrate why a collaborative culture between Dev, Ops, and the Network is critical to ensuring success.
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Conference Guru has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great dea...
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...