ThetaRay announced today that it has completed its Series B funding round, having raised $10 million from investors. The Israeli company, which offers on-premise and cloud Hyper-dimensional Big Data Analytics solutions, plans to use the funding to expand its operations into the U.S.

Focusing on security and threat detection, the people at ThetaRay say they have put in a decade of academic research into the development of its analytic platform and threat detection systems, relying on what the company calls a mathematically-based system that can detect threats, faults and fraud for mission critical infrastructure, such as those found in financial institutions. Its unique method of detecting irregularities in data is what ThetaRay claims sets it apart from the competition, according to CEO Mark Gazit.

“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.”

ThetaRay received contributions from General Electric, Poalim Capital Markets, Jerusalem Venture Partners (JVP) and several new investors. It has enjoyed increased demand for its platform over the past 12 months, and its latest funding round was over-subscribed.

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