Surge Ventures, a Menlo Park, CA-based SaaS venture studio initially targeting the financial services and wealth management industry, launched with a $10M seed investment from Virgo Capital.
Led by Sid Yenamandra, Co-founder and Managing Partner, Surge Ventures will work on building the next generation of game-changing SaaS companies to tackle emerging compliance risks such as advisor data governance, client privacy obligations management, user entitlement management and holistic Personally Identifiable Information (PII) posture assessments.
Mr. Yenamandra has a history of successful exits as a Silicon Valley based entrepreneur. Most recently, 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 and worked closely with regulators for years before unveiling its platform to specifically address SEC and FINRA guidance. Before being acquired by Smarsh, Entreda was the #1 provider of cybersecurity compliance software by market share to financial services and wealth management firms. Clients included industry leaders such as 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 and then Broadcom for $4B in 2012. He also led an NSA-funded project at HIFN to build data security technologies to protect US-critical infrastructure.
Surge has established an Advisory Board comprised of seasoned executives and influencers from across the FinTech and wealth management sectors. The Board will serve as strategic counselors to Surge’s leadership, as the firm executes its unique vision and growth plans. The inaugural members include:
- Jason Lish – Chief Security Officer, Lumen Technologies.
- Larry Roth, CPA, JD – Managing Partner of RLR Strategic Partners a strategic consultancy and M&A advisory firm 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 experience in technology and financial services.
- John Rostern – Senior Vice President and Global Lead – Cloud & Infrastructure Security Services at NCC Group.
FinSMEs
19/12/2022