Theta Lake, a company that specializes in compliance and security solutions for collaboration platforms, on Wednesday announced raising $50 million in a Series B funding round.
The new investment, which brings the total raised by the Santa Barbara, CA-based startup to more than $70 million, was led by Battery Ventures, with participation from Lightspeed Venture Partners, Neotribe Ventures, Cisco Investments, RingCentral Ventures, Salesforce Ventures, and Zoom.
Theta Lake plans on using the money to fuel its expansion.
The company offers a product suite that provides compliance and security for collaboration platforms, including ones made by Cisco, Microsoft, Zoom, Slack and RingCentral.
The platform can capture and archive data from voice, video, and chat collaboration products, while also warning users of regulatory, security and privacy risks.
Theta Lake cites data from Gartner showing that, by 2025, 45% of regulated enterprise customers will conduct supervision of audio and video content to meet compliance requirements, and 35% of enterprise customers will archive workstream collaboration and meeting solutions for nonregulated requirements.
“Leveraging compliance and security to increase collaboration adoption is a compelling value proposition,” said Kira Makagon, chief innovation officer at RingCentral.
Related: Enterprise IoT Security Firm Phosphorus Raises $38 Million
Related: Legit Security Raises $30M to Tackle Supply Chain Security
Related: Network Security Firm Portnox Raises $22 Million in Series A Funding
Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.
More from Eduard Kovacs
- Zyxel Firewalls Hacked by Mirai Botnet
- New Russia-Linked CosmicEnergy ICS Malware Could Disrupt Electric Grids
- Drop in Insider Breaches Drives Decline in Intrusions at OT Organizations
- Zero-Day Vulnerability Exploited to Hack Barracuda Email Security Gateway Appliances
- OAuth Vulnerabilities in Widely Used Expo Framework Allowed Account Takeovers
- New Honeywell OT Cybersecurity Solution Helps Identify Vulnerabilities, Threats
- Rheinmetall Says Military Business Not Impacted by Ransomware Attack
- Dish Ransomware Attack Impacted Nearly 300,000 People
Latest News
- Organizations Worldwide Targeted in Rapidly Evolving Buhti Ransomware Operation
- Google Cloud Users Can Now Automate TLS Certificate Lifecycle
- Zyxel Firewalls Hacked by Mirai Botnet
- Watch Now: Threat Detection and Incident Response Virtual Summit
- NCC Group Releases Open Source Tools for Developers, Pentesters
- Memcyco Raises $10 Million in Seed Funding to Prevent Website Impersonation
- New Russia-Linked CosmicEnergy ICS Malware Could Disrupt Electric Grids
- Security Pros: Before You Do Anything, Understand Your Threat Landscape

