Theta Lake, a unified communications security startup, has raised $50 million in Series B funding. The twist? Some of the world’s leading video conferencing and UCaaS (Unified Communications as a Service) companies opened their wallets to participate in the funding.
Indeed, the Series B round includes new money from RingCentral, Salesforce and Zoom. The round also includes investments from existing investors Cisco Systems, Lightspeed Venture Partners and Neotribe Ventures. To date, the company has raised some $70 million.
What do the top drawer UCaaS providers see in Theta Lake? For one, its solution is tightly integrated with collaboration platforms Cisco Webex, Microsoft Teams, Slack and Zoom. Additional integrations include Symphony, Verint and Vidyard. Theta Lake positions itself as category defining, with a platform capable of capturing, archiving, detecting and surfacing risk across video, visual, voice, chat, document and email content.
For another, the platform adds advanced security and compliance coverage across what is shared, shown, spoken, and typed (as Theta Lake puts it). The company believes that it is increasing the efficiency and effectiveness of compliance and risk teams, while reducing the cost of security and compliance. And, its platform is vendor agnostic and plays to customers in financial services, the public sector, healthcare and technology, officials said.
