From: RegTech Analyst
Collaboration security and compliance company Theta Lake has expanded into the UK.
The expansion has been cemented through the launch of Theta Lake UK, a dedicated, locally-based entity with employees and dedicated UK focused technology.
“We have the strong belief that we can help organisations in the UK reduce their cost of compliance and security while improving their protection of sensitive data when using modern collaboration tools,” said Devin Redmond, CEO, co-founder and director at Theta Lake UK.
The news comes on the back of Theta Lake raising $12.7m in a Series A round in October 2020. Lightspeed Venture Partners led the raise.
“Now that we have numerous customers and partners in the UK, it is an easy decision to deploy our Series A funds to build out our UK presence and our ability to help UK-based organisations safely and cost-effectively leverage the collaboration-based workplace,” Redmond added.
Attivo Group is one of those customers who are happy to celebrate Theta Lake’s UK launch as it will help them comply with the Financial Conduct Authority’s (FCA) recording and supervision requirements for voice and video rules.
“Theta Lake gives us a depth of security and compliance collaboration coverage that served us pre-pandemic, during remote work scenarios in the pandemic, and in the future as the work-from-anywhere environment evolves,” said Daniel Bridges, CTO of UK-based Attivo Group. “Its UK footprint, London-based data center, and UK focused functionality further demonstrates its commitment to us.”
Laura Citron, CEO of London & Partners, added, “We are delighted that Theta Lake has chosen to grow its global footprint in London, providing technology that helps UK businesses be safer and more compliant when using modern collaboration tools.
“It will be part of Europe’s fastest growing tech ecosystem and will benefit from access to the world class talent and new customers based here. London provides a fantastic springboard for US tech companies looking to expand internationally and we look forward to welcoming more companies from across North America.”
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