Surge Ventures Launches Data Integration Platform Via Kovair Acquisition

Sid Yenamandra, Surge CEO, Also Takes The Helm At Kovair In Move To Drive Innovation And Growth.
Sid Yenamandra, CEO, Surge Ventures and Kovair
Sid Yenamandra, CEO, Surge Ventures and Kovair
Jeff Berman, Contributing Editor & Reporter, Wealth Solutions Report
Jeff Berman, Contributing Editor & Reporter, Wealth Solutions Report

Technology investment firm Surge Ventures acquired Kovair Software, which will allow Surge to launch an enterprise integration platform for the wealth management industry, it said Wednesday.

The new platform was designed to “streamline data, applications and workflow management while offering a seamless, integration platform experience that is tailored to the unique needs of the financial services sector,” Surge said in its announcement. Financial terms of the transaction were not disclosed.

Meanwhile, as part of a significant leadership shift, Sid Yenamandra, Founder, CEO and Managing Partner of Surge, has been appointed CEO of Kovair as Surge looks to bring a “new vision for innovation and growth” to Kovair, Surge said.

Also as part of the leadership changes, Bipin Shah is stepping down as Kovair CEO but will “continue to offer his strategic insights to Kovair by remaining on its Board of Directors, ensuring the company’s enduring success and vision alignment,” according to Surge.

Bipin Shah steps down as Kovair CEO but remains on its board
Bipin Shah steps down as Kovair CEO but remains on its board

San Ramon, California-based Kovair is a software developer and data integration solution provider that is best known for flexible platforms that increase organizational efficiency and productivity.

Kovair’s Omnibus platform will “be at the heart of Surge Ventures’ new data integration platform push for wealth management firms,” according to Surge. The platform allows “teams to expedite automation across multiple tools and remove information silos,” Surge said.

The Omnibus platform supports more than 110 different initial integrations with the capacity to develop new integrations.

Kovair’s largest customers include Intel and the Department of the Navy.

“With this venture, we aim to tackle the problem of data management in the wealth management industry and to offer products that dramatically improve operational efficiency, data flow, and security across software applications, for wealth management firms, addressing the industry’s demand for secure and unified data integration solutions,” according to Yenamandra.

“Surge Ventures will leverage Kovair’s Omnibus platform to offer an unparalleled solution that simplifies complex integrations and empowers wealth management professionals with enhanced data-first capabilities,” he said.

The “strategic continuity provided by Bipin Shah’s continued Board involvement ensures that Kovair’s foundational strengths, institutional knowledge and strategic vision remain intact while pursuing new avenues of innovation,” according to Surge.

Before founding Surge Ventures, Yenamandra was CEO and Founder of Entreda, a cybersecurity compliance software maker that was bought by K1 Investment Management and Smarsh in 2020.

“Combining the deep engineering capabilities and industry knowledge of the two firms unlock new frontiers of innovation,” Shah said. “I look forward to remaining involved as an active Board member and contributing to the venture’s future success.”

Jeff Berman, Contributing Editor & Reporter at Wealth Solutions Report, can be reached at

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