SaaS startup Scrut Automation has secured $10 million in funding. This latest funding brings the company’s total capital to $20.5 million.
Scrut Automation, offering a security compliance platform for new-age businesses, has raised $10 million in funding. The investment comes from its current investors Lightspeed, MassMutual Ventures, and Endiya Partners. This latest funding brings the company’s total raised capital to $20.5 million.
According to the press release, the funding will be used to improve its platform. Currently, Scrut is in the process of developing an extended suite of tools that utilize artificial intelligence to bolster compliance efforts. Additionally, the company intends to broaden its presence across both North America and Europe.
Aayush Ghosh Choudhury, CEO of Scrut Automation, shared: “We’re focused on mid-market businesses, particularly in heavily regulated sectors such as financial services and healthcare. These organizations have limited options. They can buy off-the-shelf compliance automation tools that offer a one-size-fits-all approach to compliance, disconnected from the organization’s risks; or invest in expensive enterprise-grade tools with year-long implementations and features they will never fully use.”
Dev Khare, a partner at Lightspeed said: “A strong security posture has always been a core need for large enterprises globally, but given the increase in the number of breaches and attacks over the past few years, as well as increases in regulatory compliance requirements, mid-sized enterprises are now adopting strong GRC practices too…Scrut’s user-friendly and market-leading platform reduces this burden for security and GRC teams.”
About Scrut Automation:
Founded in 2021 by Aayush Ghosh Choudhury, Kush Kaushik, and Jayesh Gadewar, Scrut Automation is a cutting-edge automation platform that monitors and gathers evidence of an organization’s security controls, all while simplifying compliance processes to ensure audit readiness 24/7.
The platform is tailored to empower even small governance, risk, and compliance (GRC) teams to effectively handle their responsibilities as the organization scales and other functions expand. Through seamless integration with various software systems utilized by these functions, Scrut Automation automates data collection necessary for GRC teams to manage controls organization-wide. Specifically catering to cloud-native companies, Scrut Automation facilitates the management of risk, enhances security postures, and ensures compliance with security standards effortlessly.
