The wave is nice in the circle but with the small size we need the icon for I think a circle would be less impactful and we will lose some of the detail in the wave when we shrink it down.
Perhaps you could try the wave in a square configuration and simplify it a bit?
Although we want the icon to look great at a larger size it must also look presentable at a very small size as well or at the least have a variation we can use at a small size.
The word mark appears to be lacking in something, seems a bit plain if it were to stand alone. Maybe apply a treatment of somekind to the word mark?