Theta Lake Joins the Wells Fargo Startup Accelerator

Rhea-AI Summary

Theta Lake has joined the Wells Fargo Startup Accelerator, enhancing its collaboration security and compliance solutions. This partnership allows Theta Lake to leverage Wells Fargo's extensive resources for innovation in compliance technology. Theta Lake integrates with over 40 collaboration tools and is experiencing rapid growth. The Wells Fargo accelerator, now in its sixth year, supports startups with funding and guidance to scale their solutions. The program has seen over 3,500 applications globally, reflecting its attractiveness to innovators within the financial services sector.

Positive

• Theta Lake joining the Wells Fargo Startup Accelerator enhances its growth potential.
• Access to Wells Fargo's resources and expertise could accelerate innovation for Theta Lake.
• Theta Lake demonstrates rapid growth with integrations across over 40 collaboration tools.

Negative

• None.

Theta Lake, a leader in modern collaboration security and compliance solutions, today announced with Wells Fargo & Company (NYSE:WFC) that Theta Lake has joined the Wells Fargo Startup Accelerator, a portfolio of startup companies that develop solutions across a broad set of domains including customer experience, payments, marketing, risk and regulation, climate change, and security.

“Having a game changing compliance disruptor like Theta Lake join the Wells Fargo Startup Accelerator gives them access to the expertise and scale of Wells Fargo to drive effective innovation to businesses,” said John Bradford, Global Head of Enterprise Collaboration, Wells Fargo. “Modern chat, video, and voice collaboration tools have become primary communication and information sharing vehicles for organizations like Wells Fargo. Theta Lake will allow us to further expand our ability to introduce additional innovation around compliance and security for the next generation collaboration toolsets as this is something we have done and continue to do. We look forward to collaborating with Theta Lake and we welcome them to the Wells Fargo Startup Accelerator.”

With more than 40 collaboration tool integrations and multiple patents pending and granted as well as customers in the United States, United Kingdom, Canada, and Australia, Theta Lake is demonstrating rapid growth around its innovative technology.

“We’re excited to work with the Wells Fargo Startup Accelerator team to more broadly bring our innovative security and compliance solution to the market,” said Devin Redmond, CEO and co-Founder of Theta Lake. “As a forward-thinking financial institution, Wells Fargo recognizes the increasingly important need to reimagine how regulated firms think about compliance when using modern collaboration platforms and that purpose-built technology will allow Theta Lake customers to proactively close that gap.”

Now in its sixth year with 28 portfolio companies, the Wells Fargo Startup Accelerator focuses on advancing emerging technologies in pursuit of breakthroughs for financial services. Startups are eligible to receive up to $1 million in funding, along with guidance from Wells Fargo business and technology leaders to help refine and scale their solutions. The program has received more than 3,500 applications from innovative companies in more than 100 countries since the program’s inception. Applications can be submitted throughout the year at www.acceleratorapply.wf.com.

About Theta Lake

Theta Lake provides compliance and security for modern collaboration platforms using frictionless partner integrations with over 40 vendors including Cisco Webex, Microsoft Teams, RingCentral, Slack, Zoom, and more. Leveraging archive connectors, compliant archiving, and patented machine learning and NLP in a AI-assisted review workspace, security and compliance teams can now consistently leverage their archives and / or archive chat, voice, and video collaboration in Theta Lake while efficiently detecting data loss, security and compliance risks across video, voice, chat, and document content in what is shared, shown, spoken, and typed during collaboration sessions. All of this enables organizations to safely scale and realize the full ROI of a collaboration-first workplace to reduce both the cost of security and compliance and non-compliance. Visit us at ThetaLake.com; LinkedIn; or Twitter at @thetalake.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies and small businesses in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 30 on Fortune’s 2020 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo

View source version on businesswire.com: https://www.businesswire.com/news/home/20210629005150/en/

FAQ

What is the significance of Theta Lake joining the Wells Fargo Startup Accelerator?

The partnership allows Theta Lake to access Wells Fargo's resources, which can drive innovation in its compliance and security solutions.

How many collaboration tools does Theta Lake integrate with?

Theta Lake integrates with over 40 collaboration tools, enhancing its compliance solutions.

What support does the Wells Fargo Startup Accelerator offer?

The accelerator provides startups with up to $1 million in funding and guidance from Wells Fargo leaders to help refine and scale their solutions.

How many applications has the Wells Fargo Startup Accelerator received?

The program has received over 3,500 applications from innovative companies in more than 100 countries since its inception.

What are the potential benefits for Theta Lake customers from this partnership?

Customers may benefit from enhanced compliance and security through advanced technology tailored for modern collaboration platforms.