PLANO, Texas, July 09, 2025 (GLOBE NEWSWIRE) — Three specialized technology firms have merged under a team of proven industry veterans to create Covasant Technologies, a new powerhouse focused on solving complex risk, compliance, and cybersecurity challenges with Agentic AI. The Texas-based company today announced the formal merger, which unites its AI-led services with the deep expertise of konaAI, a leader in AI-driven fraud-risk and compliance technology, and DCube Data Sciences Corporation, a specialist in cybersecurity and eDiscovery. This strategic combination positions the new Covasant at the forefront of innovation for enterprise governance.
By integrating konaAI’s best-in-industry, AI-led compliance expertise and DCube’s coveted cybersecurity and eDiscovery strengths, Covasant is poised to significantly expand its services portfolio and reinforce its commitment to delivering robust, end-to-end enterprise governance solutions to its clients across the US, UK, and Asia-Pacific region.
A Leadership Team Built for the Next Wave of Enterprise AI
The new entity is spearheaded by a team of visionary entrepreneurs and recognized industry leaders, bringing decades of experience in building high-growth technology companies and solving complex risk challenges for many of the world’s largest organizations.
At the helm is Srikanth Chakkilam, a visionary entrepreneur and strategic leader known for building high-growth, innovation-driven technology companies including Cigniti Technologies. As CEO and Executive Director of Covasant, he leads the company’s global strategy. His contributions have earned him the prestigious Forbes Leadership Award and a nomination for the EY Entrepreneur of the Year. An active angel investor in AI and SaaS, Srikanth is committed to building institutions that inspire, scale, and endure.
Sharing his vision for the future of AI-led governance, Srikanth Chakkilam, CEO, Covasant Technologies, emphasized the importance of a unified approach to enterprise AI solutions. He said, “The era of siloed AI experiments is over. Enterprises today demand unified, secure, and scalable platforms that deliver tangible business outcomes. This merger is focused on integrating deep domain expertise to solve high-stakes business problems together. We are creating the definitive leader in Agentic AI-led services for enterprise governance, risk, and compliance.”
Joining him is Vincent Walden, a globally recognized authority on forensic data analytics and corporate compliance. As the CEO of konaAI, he leads the charge in helping organizations detect and prevent fraud and corruption. Before konaAI, Vincent was a Managing Director at Alvarez & Marsal and a Partner at Ernst & Young, leading global forensic analytics teams. For his contributions, he was named “Certified Fraud Examiner of the Year” by the Association of Certified Fraud Examiners in 2022.
“Joining hands with Covasant allows us to combine our AI-driven compliance and risk management expertise with Covasant’s larger, innovative solutions for enterprise AI and governance to deliver unmatched value for our clients,” said Vincent Walden, CEO, konaAI, a Covasant company. “In a world of increasing fraud and compliance complexity, risk professionals in Fortune 500 companies trust our platform because it provides precision-engineered, real-time insights that continuously learn. Together, we will set a new standard for proactive risk management, building the ‘dream platform’ for compliance and risk professionals,” added Walden.
The leadership team is further strengthened by Paul Kelley, CEO of DCube Data Sciences. A 25-year veteran in digital forensics and legal technology, Paul began his career at KPMG and Deloitte before taking on senior leadership roles at FTI Consulting and Stroz Friedberg. His expertise in managing large-scale litigation, cybersecurity, and e-Discovery for high-stakes matters brings critical, real-world experience to the new entity.
“We are excited about our merger with Covasant to deliver a stronger joint value proposition to our clients across diverse industry domains,” said Paul Kelley, CEO, DCube Data Sciences, a Covasant company. “Data is the lifeblood of AI and the biggest point of risk in litigation and cyberattacks. This strategic alignment enables us to leverage our combined capabilities in cybersecurity, e-Discovery, and data analytics to provide comprehensive solutions that enhance organizational resilience and compliance,” added Kelley.
Navigating the Agentic AI Paradox: A Market at a Crossroads
This merger arrives at a pivotal moment. A recently published UN Trade and Development (UNCTAD) report projects the global AI market will soar from $189 billion in 2023 to $4.8 trillion by 2033, which is a 25-fold increase. Agentic AI is emerging as the next frontier, yet this opportunity presents a critical paradox: as enterprises rush to adopt AI, they face significant implementation hurdles and expose themselves to new, complex risk vectors.
With over 80% of executives viewing AI as a strategic advantage (MIT Sloan Management Review) and more than half of risk leaders planning to adopt AI-based solutions this year (NAVEX State of Risk and Compliance Report 2024), the need for a trusted, end-to-end partner has never been greater.
It is precisely this challenge that the Covasant merger is designed to solve. By fusing Covasant’s AI engineering prowess with konaAI’s intelligent compliance and DCube’s cybersecurity strengths, the new entity directly confronts these adoption barriers. It provides a unified platform that enables clients to harness the power of Agentic AI strategically and securely, maximizing business value while minimizing risk.
About Covasant Technologies: Covasant Technologies is an emerging global leader in delivering Agentic AI-led services that address complex, industry-specific challenges. Through its pioneering Services-as-Software model, Covasant brings together capabilities in data engineering, digital and cloud, AI engineering, and enterprise risk management to help global enterprises automate decision-making, simplify operations, and move faster, thus delivering measurable outcomes and meaningful transformation. With offices in Plano (Texas), London (UK), and Hyderabad (India), Covasant delivers scalable, autonomous solutions that intelligently orchestrate business processes and generate actionable insights.
About konaAI: konaAI, a Covasant company, delivers real-time fraud detection, anti-corruption, and compliance analytics through a proprietary AI-Driven engine. Designed to monitor 100% of transactions in real time, it helps audit teams flag anomalies and mitigate high-risk activities proactively. Built on proprietary risk signals and validated machine learning models, konaAI is trusted by over two dozen Fortune 500 companies.
About DCube Data Sciences Corporation: DCube Data Sciences Corporation, a Covasant company, is a leader in automated data services and cybersecurity, offering specialized expertise in threat monitoring and response, legal analytics, and information governance. DCube is an ISO 27001-compliant, ITAR-compliant, and SOC II certified services company, offering AI-led services coveted by enterprise clients across highly regulated industries.
Media Contact:
Rohit Gupta
+91 725-925-3400
Rohit.gupta@covasant.com
http://www.covasant.com
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