Surge Ventures Launches SaaS Venture Studio With Virgo Capital As Founding Investor







Surge Ventures, a Menlo Park, CA-based SaaS enterprise studio initially focusing on the monetary providers and wealth administration business, launched with a $10M seed funding from Virgo Capital.

Led by Sid Yenamandra, Co-founder and Managing Partner, Surge Ventures will work on constructing the following technology of game-changing SaaS firms to sort out rising compliance dangers reminiscent of advisor knowledge governance, consumer privateness obligations administration, person entitlement administration and holistic Personally Identifiable Information (PII) posture assessments.

Mr. Yenamandra has a historical past of profitable exits as a Silicon Valley primarily based entrepreneur. Most just lately, he was CEO and Founder of Entreda, acquired by K1 Investment Management and Smarsh in 2020. He was the visionary behind Entreda’s cybersecurity compliance software program and labored intently with regulators for years earlier than unveiling its platform to particularly deal with SEC and FINRA steerage. Before being acquired by Smarsh, Entreda was the #1 supplier of cybersecurity compliance software program by market share to monetary providers and wealth administration corporations. Clients included business leaders reminiscent of Advisor Group, LPL Financial and Kestra.

Prior to Entreda, Mr. Yenamandra served as VP of Product and Marketing at venture-funded, Plato Networks, which was acquired by Netlogic after which Broadcom for $4B in 2012. He additionally led an NSA-funded undertaking at HIFN to construct knowledge safety applied sciences to guard US-critical infrastructure.

Surge has established an Advisory Board comprised of seasoned executives and influencers from throughout the FinTech and wealth administration sectors. The Board will function strategic counselors to Surge’s management, because the agency executes its distinctive imaginative and prescient and progress plans. The inaugural members embrace:

  • Jason Lish – Chief Security Officer, Lumen Technologies.
  • Larry Roth, CPA, JD – Managing Partner of RLR Strategic Partners a strategic consultancy and M&A advisory agency affiliated with Berkshire Global Advisors.
  • Neil Daswani, PhD- Chief Information Security Officer, QuantumScape and Co-Director, Stanford Advanced Cybersecurity Program.
  • Matthew Martin – Senior Vice President and Deputy Chief Information Security Officer, LPL Financial.
  • Geoff Moore – CIO, Valmark Financial Group. Mr. Moore has over 25 years of expertise in know-how and monetary providers.
  • John Rostern – Senior Vice President and Global Lead – Cloud & Infrastructure Security Services at NCC Group.

FinSMEs

19/12/2022






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