Theta Lake, the recognized leader in modern collaboration security and compliance solutions for Cisco Webex, Microsoft Teams, RingCentral, Zoom and more, raised US$ 12.7M in Series A funding. The company’s total funding stands at US$ 20 million.
The Series A funding round was led by Lightspeed Venture Partners. Other participants include Cisco Investments, notable angel investors from the enterprise collaboration and security space, and previous investors Neotribe Ventures, Firebolt Ventures and WestWave Capital.
Theta Lake will utilize the capital to invest in its patented and award-winning Compliance Product and Best Security Product while increasing its service delivery capabilities for organizations to protect their data and employees while adhering to regulatory compliance requirements when using their collaboration tools from any physical location, device or network.
About Theta Lake
Founded in 2017 by Devin Redmond and Rich Sutton, Theta Lake is the dual winner of UC Today’s 2020 Best Compliance Product and Best Security Product. Its founders have proven entrepreneurs and enterprise technologists with decades of leadership experience and recognition from Global 100 customers and top industry analysts.
The company’s mission is to provide modern collaboration with security and compliance. Its patented and multi-patent pending AI helps security and compliance teams more effectively and quickly scale their risk detection and the workflows for communication security, data loss protection, and supervision of modern video, voice, and unified collaboration systems.
The COVID-19 dramatically altered the way many of us work and collaborate with our co-workers, partners and customers. Professionals are mostly using video meetings (Zoom, Microsoft Teams, WebEx, RingCentral), chat windows (such as Slack or Teams) and email. It’s been a big change, but people have adapted. This has created a new set of security, compliance and regulatory challenges for the employers.
Previously, companies and their data have been secured via a set of tools to monitor networks, endpoints and email. Today most of the communicating and interacting is taking place over real-time channels (as opposed to email), creating a new set of data loss and compliance risks.
Theta Lake solves the security, risk and compliance issues and is uniquely positioned to solve the modern communication security challenges that enterprises face in the wake of COVID-19.
The need for security and compliance solutions that fully cover modern collaboration tools should be obvious to everyone. That need pre-existed the pandemic but now is more pressing than ever. The shift from physical worksites and employer-owned networks with tightly managed devices and applications, to a distributed workplace that lives inside your collaboration tools, means organizations need new security and compliance coverage that lives inside that new workplace,” said Devin Redmond, Theta Lake’s co-founder and CEO.
Read next article here
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by
[…] Read next article here […]