GE Joins JVP as Newest Cyber-Security Investor
Fairfield, Connecticut and Jerusalem, Israel – August 5, 2013 - ThetaRay, an Israeli innovator in preventing Advanced Persistent Threats (APT) and Zero Day Attacks, announced today that GE (NYSE:GE) is joining Jerusalem Venture Partners (JVP) as an investor in ThetaRay (the "Company").
ThetaRay was founded by Professor Amir Averbuch of Tel Aviv University and Professor Ronald Coifman of Yale University. The Company's cutting-edge technology provides detection and prevention of APT and Zero-Day attacks on critical infrastructure, strategic installations, communications systems and major financial systems, leveraging patented algorithms.
“GE’s efforts in Israel are a crucial step in a long and determined series of security efforts to safeguard our products. As the data proliferates, so will the opportunities to exploit it due to the interconnected nature of systems and machines. Theta Ray has a unique and innovative approach that can be used in the future to potentially help protect products and data. We look forward to collaborating with ThetaRay,” said Brett May, Head of Ventures and Business Development, GE Software.
"We believe there is a unique business opportunity in the Israeli cyber-security sector, which combines high-quality human capital, significant investment by both the government and industry, leading academic centers, major multinational R&D centers, and a unique entrepreneurial culture that leads to innovative solutions," said Yoav Tzruya, Partner in JVP's Labs. "We have made it a priority to collaborate with major strategic partners like GE in order to allow our companies to benefit from early collaboration on product development, gain invaluable insights regarding their target markets and develop joint go-to-market strategies."
ThetaRay solutions have been successfully tested in major governmental and defense organizations as well as corporations. ThetaRay's technology has demonstrated an ability to quickly identify cyber-attacks, while simultaneously decreasing false alarms.
"ThetaRay has developed a game-changing approach, which can drastically improve the way we detect and prevent the most destructive and complex cyber-attacks, including attacks previously unnoticed." said Mark Gazit, CEO of ThetaRay. "By utilizing a multi-domain, hyper-dimensional analysis of Big Data, ThetaRay allows decision-makers to quickly identify cyber anomalies and threats, helping them avert significant, often irreversible damage."