We at Neotribe are very excited to continue our relationship with Theta Lake by participating in their Series B, and we are happy to welcome Battery Ventures as the lead on this $50M round. While our investing journey with Theta Lake began in 2018 when we led their Seed round, Neotribe’s founder, Kittu Kolluri and Theta Lake CEO Devin Redmond have known each other for over 20 years. They previously worked together at Neoteris, a company co-founded by Kittu that was later acquired by NetScreen Technologies, Inc. Over the next several years, they looked for ways to work together again, and it was Theta Lake that ultimately created that opportunity. This time it was Devin’s vision to create a cloud-native technology to assist enterprises in managing security and compliance in modern communication applications that captured Neotribe’s imagination.
Since our Seed investment, Devin and his co-founder Rich Sutton have built a talented geographically dispersed organization dedicated to building innovative compliance and security solutions for today’s communication mediums such as video conferencing, voice, chat, and document content. Theta Lake successfully landed marquee enterprise customers and is helping to ensure they have a robust compliance and security posture when it comes to applications such as Zoom, Webex, Slack, RingCentral, Microsoft Teams, and many others. While Theta Lake’s cloud-native technology may seem expected in our remote world, Devin and team had the vision that modern collaboration platforms were under-protected well before their rapid adoption during the COVID-19 pandemic. This head start allowed Theta Lake to build a robust platform with dozens of certified integration partnerships with the world’s leading unified communication and online-meeting providers. Now, customers across several industries rely on their technology to prevent regulatory and compliance issues as well as expensive data breaches.
Devin’s vision was ambitious, exciting, and infectious. At Neotribe, we happily invested in both the Seed and Series A through Neotribe Ventures' first fund and are thankful to have the opportunity to invest in the Series B through our new growth stage fund, Neotribe Ignite. We look forward to the next several years of company building alongside this world-class team.
If you think Theta Lake’s platform would be valuable for your team, further details and resources are available on their website, https://thetalake.com.