Scrut Automation Secures $10 Million In Growth Capital
Key Boost For Company’s Growth Initiatives
Scrut Automation, a pioneering Governance, Risk, and Compliance (GRC) platform, has announced a significant milestone with the completion of a $10 million growth capital raise from strategic investors Lightspeed, MassMutual Ventures, and Endiya Partners.
This funding round, a testament to these leading investors’ confidence in Scrut Automation’s potential, aims to accelerate the company’s growth initiatives, particularly in North America and Europe, while enhancing its platform capabilities with generative AI integration.
Scrut Automation, headquartered in Bengaluru, Karnataka, India, empathises with mid-market companies grappling with the complexities of regulatory compliance across highly regulated industries.
Leveraging its innovative GRC platform, Scrut helps organisations build, manage, and sustain enterprise-grade risk and compliance programmes. It understands and addresses these companies’ unique challenges, alleviating the challenges associated with meeting industry, customer, and regulatory compliance requirements.
Aayush Ghosh Choudhury, Co-founder and CEO of Scrut Automation, highlighted the critical need for tailored solutions in the GRC space, stating: “Mid-market organisations face unique challenges when it comes to compliance automation. They are often constrained by limited budgets and understaffed teams, which hinder their ability to meet stringent compliance requirements efficiently.”
Flexible Approach To GRC
Scrut Automation’s platform offers a flexible approach to GRC, enabling companies to align their compliance efforts with organisational goals, risks, and resources.
By automating control monitoring and contextualising risks, Scrut eliminates duplication of effort and streamlines compliance and risk management processes.
The platform’s deep automation capabilities and proprietary unifying control framework have garnered praise from customers like Keshav Kumar, VWO’s Data Protection Officer, who highlighted its efficacy in seamlessly managing compliance requirements.
Dev Khare, Partner at Lightspeed, reaffirmed the importance of robust GRC practices for mid-size enterprises, especially amidst escalating cybersecurity threats and regulatory compliance requirements.
He expressed confidence in Scrut Automation’s ability to alleviate the burden on security and GRC teams, underscoring the strategic partnership between the two entities.
Anvesh Ramineni, Managing Partner at MassMutual Ventures, echoed similar sentiments, emphasising Scrut Automation’s responsiveness to the needs of high-growth tech-first companies.
He commended the company’s dedication to addressing pain points in the GRC landscape, signalling support for its continued growth and innovation.
Founded by Aayush Ghosh Choudhury, Jayesh Gadewar, and Kush Kaushik, Scrut Automation has rapidly emerged as a leader in the GRC domain, serving over 800 customers globally.
The company’s commitment to delivering tailored solutions for mid-market enterprises has garnered accolades from industry experts and propelled its growth trajectory.
With a diverse roster of angel investors and advisors from the SaaS and cybersecurity sectors, Scrut Automation is poised to revolutionise the GRC landscape, empowering organisations to navigate compliance challenges quickly and efficiently.
Featured image: (L-R) Kush Kaushik, Aayush Ghosh Choudhury and Jayesh Gadewar founded Scrut Automation. Credit: Scrut Automation
