A number of events in the past few years have validated the Theta Lake thesis that successful unified communications and collaboration (UCC) requires seamlessly integrated compliance and security. One of the first signifiers was the 50M series B round investment in Theta Lake, which included participation by some of the leading UCC providers including Zoom Video Communications Inc, RingCentral Ventures, Cisco Ventures and Salesforce Ventures. The market need has also been proven (an understatement) by the 2.6B in regulatory fines that have been levied on the financial services industry due to poor recordkeeping and unmonitored communications. The latest far reaching market event and a benefit to organizations everywhere, was last month’s announcement from Zoom of the availability of Zoom Compliance Manager, powered by Theta Lake.
Zoom Compliance Manager provides a single integrated platform for risk and compliance management, data governance, and information protection across the Zoom Workplace, powered by Theta Lake’s award-winning technology. The integration allows Zoom customers to seamlessly access Theta Lake's comprehensive compliance and security capabilities directly from the Zoom administrator console streamlining compliance operations. Organizations using the Zoom portfolio of products, including Zoom Meetings, Phone, In-Meeting Chat, Whiteboards, Meeting Summaries (AI-Companion) and more, can fully enable and adopt those technologies, without fear of potential compliance violations, maximizing user productivity and streamlining compliance operations while working with Zoom and Theta Lake powered technology that works unobtrusively in the background.
As an investor and technology partner from the company’s outset, Zoom recognized that no other vendor in the Digital Communications Governance space offers as much coverage across Zoom Workplace as Theta Lake. Currently, Theta Lake’s integrations support 12 different Zoom applications and modalities, including chat, phone, whiteboards, SMS, and video, preserving and rendering content in its native format. In addition, Zoom knows from experience that Theta Lake is constantly defining and expanding the definition of what's possible in Digital Communications Governance, with innovative, frequent product releases that deliver first to market capabilities , such as whiteboard support, or video compliance detection, powered by AI, on a rapid fire cadence. And in terms of customer validation, Zoom has witnessed Theta Lake's ability to support some of the largest and most regulated financial institutions in the world, proving its reliability in high-volume, rigorous environments. We are honored to be chosen by Zoom to be an integral part of their portfolio and support our joint customers.
This decision by Zoom to partner with Theta Lake brings together two industry leaders to address a key challenge in today’s UCC market -the need for dependable compliance and security for modern communications. We had already enjoyed a tightly aligned relationship with Zoom and the release of Zoom Compliance Manager brings that even closer, benefiting customers as new modalities and content types are delivered into the market.
Regulated industries can deploy and leverage the new capabilities that Zoom Workplace continues to deliver and use Zoom Compliance Manager seamlessly - without worrying about whether their existing in-house, compliance vendor, often built for email archiving, can keep pace with market innovations and then waiting for it to come to market.