ThetaRay's cloud-based transaction monitoring and screening solution uses AI technology to monitor financial transactions accurately and quickly. The company's clients include major financial institutions like Santander, Travelex, and Mashreq Bank. Over the past two years, ThetaRay has seen a tenfold increase in clients and a net dollar retention rate of over 180%, leading to a fivefold increase in annual recurring revenue.
Key takeaways:
- ThetaRay, an AI-powered secure global payments company, has completed a $57 million financing round led by Portage, bringing the total amount raised by the company to $148 million.
- The investment will be used to accelerate ThetaRay's global growth plans and to capitalize on the market demand for next-generation financial crime detection technology.
- ThetaRay's cloud-based transaction monitoring and screening solution uses proprietary and patented AI technology to monitor financial transactions quickly and accurately, enabling Banks and FinTechs to grow their business and reduce the risk of financial crime.
- The company has seen rapid business growth, with the number of clients growing more than tenfold over the last two years and annual recurring revenue growing over fivefold.