Scrut Automation, a SaaS-based governance, risk, and compliance (GRC) platform, has recently secured $10 million in growth capital from its existing investors Lightspeed, MassMutual Ventures, and Endiya Partners. This investment is earmarked for enhancing the platform's capabilities, particularly through the incorporation of generative AI to alleviate the manual workload of risk and compliance teams, and for accelerating the company's expansion into North American and European markets. To date, Scrut Automation has raised a total of $20.5 million since its inception in 2021.
The company was founded to tackle the specific challenges encountered by tech-first mid-market businesses operating in highly regulated sectors. These organizations often face stringent compliance requirements, the pressure to manage risk effectively, and the constraints of limited budgets and staffing. Scrut Automation offers a tailored solution that diverges from the one-size-fits-all approach of off-the-shelf compliance tools and the costly, feature-heavy enterprise-grade alternatives.
According to Aayush Ghosh Choudhury, Co-founder and CEO of Scrut Automation, the platform provides a scalable GRC program that aligns with a company's objectives, risks, and resources. It consolidates compliance and risk management processes, contextualizes risks, reduces redundant efforts, and automates control monitoring. The platform's configurability and deep automation capabilities, along with a proprietary unifying control framework, enable integration with over 75 products and automate tests for more than 70% of controls.
Feedback from customers like Keshav Kumar, Data Protection Officer at VWO, highlights the platform's effectiveness in streamlining compliance processes amidst rapid business growth and expansion into new markets. Investors such as Dev Khare of Lightspeed and Anvesh Ramineni of MassMutual Ventures have expressed confidence in Scrut Automation's ability to meet the growing demand for robust GRC practices among mid-size enterprises, praising its user-friendly and market-leading platform.
For more information on Scrut Automation and its solutions, visit https://www.scrutautomation.com.
