Collaboration Security and Compliance Leader Theta Lake Raises $12.7 Million In Series A Funding, Led by Lightspeed Venture Partners
Company Set to Expand Platform and Global Market Delivery for Protecting Employers and Employees in the New Collaboration-based Remote Work Era
Theta Lake, Inc., the recognized leader in modern collaboration security and compliance solutions for Cisco Webex, Microsoft Teams, RingCentral, Zoom and more, today announced that it has raised $12.7 million in Series A funding, bringing the company’s total funding to $20 million. Lightspeed Venture Partners led the round with participation by 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 use the capital to invest in its patented and award-winning 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.
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“With collaboration platform usage experiencing truly unprecedented adoption, organizations will need to protect that communication channel and meet compliance requirements. This means that every company needs Theta Lake.”
“The Theta Lake platform addresses our need to cover safety and compliance across multiple new communication tools with complete coverage for video, voice, chat and more. Their efficient and intuitive detection and review system is unlike anything we’ve been able to find in the market,” said the VP of End User Technology for a Global 500 Bank.
Theta Lake’s security and compliance solution for modern collaboration platforms uses patented and multi-patent pending artificial intelligence (AI) to detect risks across video, visual, voice, chat and document content with seamless integrations into the leading video conferencing and collaboration tools. This helps organizations in all industry verticals address risks including data exposure, phishing, account compromise, acceptable use and regulatory compliance risks all while addressing archiving and supervision requirements.
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As part of today’s announcement, Arif Janmohamed, Partner at Lightspeed Venture Partners, will join the Theta Lake Board of Directors. Combined with the existing investors, Lightspeed Venture Partners, Cisco Investments and its tier 1 angels, Theta Lake is positioned to extend its innovation and lead as the platform protecting the new distributed, collaboration-based workplace.
“Theta Lake’s amazing innovations in AI-based risk detection applied to visual, voice, chat and file content in collaboration communications truly sets it apart as a communication security and compliance provider,” said Arif Janmohamed, partner at Lightspeed Venture Partners. “With collaboration platform usage experiencing truly unprecedented adoption, organizations will need to protect that communication channel and meet compliance requirements. This means that every company needs Theta Lake.”
