TLDR:
- Scrut Automation raised $10 million in growth capital from Lightspeed, MassMutual Ventures, and Endiya Partners.
- The funding will be used to enhance platform capabilities, incorporate generative AI use cases, and expand into North American and European markets.
Full Article:
Scrut Automation, a Governance, Risk, and Compliance (GRC) platform, has secured $10 million in growth capital from existing investors Lightspeed, MassMutual Ventures, and Endiya Partners. The company plans to strengthen its platform capabilities by integrating generative AI applications to reduce manual tasks for risk and compliance teams. Additionally, the funding will support the expansion of operations into North American and European markets. With this latest round of funding, the company has now raised a total of $20.5 million in venture funding since its inception in 2021.
The co-founders of Scrut Automation, Aayush Ghosh Choudhury, Jayesh Gadewar, and Kush Kaushik, established the platform to address the specific risk and compliance challenges faced by mid-market businesses in regulated industries. The platform aims to help companies build scalable GRC programs tailored to their organizational goals, risks, and resources. Scrut Automation offers flexibility in creating GRC programs that are closely aligned with the customer’s environment, considering industry-specific regulations and compliance frameworks.
Scrut Automation’s platform leverages automation capabilities and a proprietary unifying control framework to streamline compliance and risk management processes for organizations. By automating tests across a variety of controls, the platform reduces manual effort and provides near-real-time visibility into risk and compliance posture. The unifying control framework ties an organization’s controls to compliance requirements, eliminating duplicate efforts in demonstrating compliance across different frameworks.
The company aims to assist mid-market companies in developing robust risk and compliance management practices through AI-driven solutions, reducing dependency on human capacity and expertise. Recognized by G2 for its fastest-growing products and best security software, Scrut Automation continues to make strides in revolutionizing risk management and compliance for tech-first companies.
