The funding will help Theta Lake accelerate commercial expansion. Here are the top-line bullets you need to know.
Theta Lake, a digital communication supervision and compliance platform, has raised $50M in a Series B. The round drew participation from Battery Ventures, Lightspeed Venture Partners, Cisco Investments, Zoom Video Communications, and Salesforce Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Theta Lake allows organizations to detect and manage compliance and security risks associated with interaction across their collaboration platforms.
- Theta Lake has developed over 45 partner integrations with companies such as Zoom, Microsoft Teams, Cisco Webex, and Slack.
- The company has over 50 customers, including TD Securities, Wells Fargo, Advisor Group, and Tupicoffs.
- The startup is supported by a team of 64 employees and has an office in Santa Barbara, California.
Source: Theta Lake
WHY DOES THE MARKET MATTER?
- The global eGRC (enterprise governance, risk management, and compliance) market is expected to reach a value of $60.7B by 2026, growing at a CAGR of 10.9%, according to Markets and Markets.
- Mounting regulatory pressure from governments as well as the increasing integration of AI and blockchain technologies into eGRC solutions have contributed to market growth.
- Risk management optimization has helped support businesses continuity amid the pandemic.
