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Covasant

Category: AI Agents

Agentic AI-powered enterprise risk management company formed through 2025 merger of Covasant (India), konaAI (Austin), and DCube Data Sciences (California), providing AI Agent Control Tower for governance, compliance, and cybersecurity Covasant was founded in 2024. The company is led by Srikanth Chakkilam (CEO & Executive Director). Based in Hyderabad, India (with offices in Plano, Texas and London, UK). Team size: Planning to hire 3,000 AI engineers by 2028 (AI Innovation Centre in Hyderabad). Total funding raised: Not publicly disclosed (merger-funded, revenue ₹16K FY2025 pre-merger). Latest round: Not publicly available. Key investors include Not publicly available.

Founded
2024
Headquarters
Hyderabad, India (with offices in Plano, Texas and London, UK)
Team size
Planning to hire 3,000 AI engineers by 2028 (AI Innovation Centre in Hyderabad)
Total funding
Not publicly disclosed (merger-funded, revenue ₹16K FY2025 pre-merger)

Value proposition

Unified AI Agent Control Tower (AI ACT) platform providing centralized governance, security, and compliance for enterprise AI agents across fragmented AI ecosystem. Enables organizations to inventory, monitor, manage, and secure all AI agents from single dashboard regardless of origin, platform, or function.

Products and solutions

AI Agent Control Tower (AI ACT) - unified governance platform, Universal Agent Registry - single dashboard for all enterprise AI agents, Centralized Governance & Security - consistent policies and AI guardrails, Agent Management Suite - lifecycle management from genesis to governance, Agentic AI-powered Services-as-Software for ERM, AI-driven fraud-risk and compliance solutions (from konaAI), Cybersecurity and eDiscovery solutions (from DCube)

Unique value

Combination of a Services-as-Software model with a product-led approach and deep domain expertise, offering governance across the entire AI agent ecosystem.

Target customer

Enterprise organizations facing fragmented AI agent ecosystems, Fortune 500 companies requiring unified AI governance, compliance officers managing AI risk, CISOs securing AI deployments

Industries served

Enterprise Risk Management, Compliance, Cybersecurity, Governance, Risk & Compliance (GRC), eDiscovery, Fraud Prevention

Technology advantage

Combined expertise from three specialized firms: Covasant's agentic AI, konaAI's fraud-risk/compliance AI, DCube's cybersecurity/eDiscovery. Proven leadership team (Bal Chakkilam built $250M+ revenue company with 5,000+ workforce). AI Innovation Centre in Hyderabad with aggressive hiring plan (3,000 AI engineers by 2028).

How they differentiate

Only platform providing unified governance for ALL AI agents regardless of origin. Strategic merger combining three specialized capabilities. Focus on enterprise risk management (ERM) with AI governance, compliance, and cybersecurity in single platform. Aggressive talent acquisition strategy (3,000 AI engineers by 2028).

Main competitors

Salesforce, ServiceNow

Key partnerships

konaAI (Austin, Texas - merged July 2025) - AI-driven fraud-risk and compliance, DCube Data Sciences Corp (California - merged July 2025) - cybersecurity and eDiscovery specialist, Google Cloud (December 2025) - Achieved Google Cloud Partner status in Build Engagement Model, listed Agent Management Suite and AI Agent Control Tower on Google Cloud Marketplace

Notable customers

Over 20 Fortune 500 firms

Major milestones

October 2024: Covasant Technologies Private Limited incorporated in Hyderabad, July 9, 2025: Strategic merger with konaAI (Austin) and DCube Data Sciences (California), September 2025: Launched AI Agent Control Tower (AI ACT) governance platform, 2025: Opened AI Innovation Centre in Hyderabad with 500 engineers, 2025: Announced plan to hire 3,000 AI engineers by 2028, December 2025: Achieved Google Cloud Partner status in Build Engagement Model; listed products on Google Cloud Marketplace, 2026: Achieved ISO/IEC 42001:2023 accredited certification for AI Management System, Established offices in Plano (Texas), London (UK), Hyderabad (India), and UAE

Growth metrics

Post-merger entity formed July 2025. Planning 3,000 AI engineer hires by 2028. AI Innovation Centre established in Hyderabad. Pre-merger revenue: ₹16K (Covasant India, FY2025). Combined entity scale not yet disclosed.

Market positioning

Positioned as definitive leader in agentic AI-led services for enterprise governance, risk, and compliance following strategic merger

Geographic focus

Primarily USA (Plano) and India (Hyderabad).

Patents and IP

No publicly available information on patents.

About Srikanth Chakkilam (CEO & Executive Director)

Former CEO and Executive Director at Cigniti Technologies (built $250M+ revenue company with 5,000+ workforce). Forbes Leadership Award winner, EY Entrepreneur of the Year nominee. Active angel investor in AI and SaaS.

Official website: