Tuesday, October 27, 2020

Theta Lake Takes $12.7M For Security, Compliance Software

Santa Barbara-based Theta Lake, a developer of security and compliance software which connects with Cisco Webex, Microsoft Teams, RingCentral, Zoom and other collaboration platforms, has raised $12.7M in a Series A funding. According to the company, the funding was led by Lightspeed Venture Partners, and also included Cisco Investments, angel investors, and prior investors Neotribe Ventures, Firebolt Ventures and WestWave Capital. Theta Lake said that it has now raised a total of $20M in funding for its platform, which it says is used to protect both employers and employees using collaboration tools. As part of the funding, Lightspeed's Arif Janmohamed joins the company's board. Theta Lake says it is using artificial intelligence (AI) to detect detect risks across video, visual, voice, chat and document content, addressing issues with data exposure, phishing, account compromise, acceptable use and regulatory compliance when organizations have users using video conferencing and collaboration tools. The company's seed funding was in January of 2019. More information »