RingCentral and Zoom have taken part in a $50m funding round for Theta Lake.
Theta Lake specialises in security and compliance for unified communications platforms and has raised more than $70m, with Cisco among the existing investors to take part in this latest round.
Devin Redmond, CEO and Co-founder of Theta Lake, said: “At Theta Lake, we are rearchitecting compliance with integrated security for the modern communication and information sharing platforms of today’s workforce.
“We have seen tremendous adoption of our platform, and it is inspiring to see customers using our solutions to unlock more collaboration and productivity for their end-users. Modern compliance and security should be a strategic enabler, and we are proving that it can be.
“The addition of Battery Ventures, along with so many of our strategic integration partners, coupled with our existing investors, will drive our ability to innovate and deliver value to our customers at even a more global scale.”
Theta Lake said the latest cash injection validates its platform, which uses machine learning to capture, archive and surface risks across video, voice, chat and text.
Its solution is compatible with products from a number of vendors, including Cisco, Microsoft, RingCentral, Salesforce and Zoom.
Kira Makagon, Chief Innovation Officer of RingCentral, said: “At RingCentral Ventures, we are excited by the positive impact the Theta Lake integration into our platform has had for our customers.
“Leveraging compliance and security to increase collaboration adoption is a compelling value proposition. As a RingCentral Premier Partner with tightly integrated technology, we now have integrated customers with Theta Lake in over three countries and across more than four industry verticals.
“We are happy to invest in Theta Lake’s ability to continue innovating and delivering value for RingCentral customers.”
The announcement of Zoom’s investment comes days after it was revealed as an investor in CX brand Cresta. The vendor has previously invested in Neat and DTEN.
Oded Gal, Chief Product Officer at Zoom, said: “At Zoom, our accelerated pace of innovation addresses customers’ needs quickly and securely, which is why we understand the value of security and compliance for the modern collaboration stack that Theta Lake enables.
“As one of the earliest integration partners for Theta Lake, we are excited to invest in their future success and drive more joint innovation around integrated security and compliance across the Zoom communications platform.”
