Scrut Automation Secures $10 Million in Growth Capital to Revolutionize Governance, Risk, and Compliance (GRC)

Scrut Automation, a leading Governance, Risk, and Compliance (GRC) platform, has announced a significant milestone in its growth journey, raising $10 million in growth capital from existing investors Lightspeed, MassMutual Ventures, and Endiya Partners. This latest round of funding will propel Scrut Automation’s expansion into the North American and European markets, as well as enhance its platform capabilities with generative AI applications.

Since its inception in 2021, Scrut Automation has been dedicated to helping mid-market companies navigate the complex landscape of risk and compliance. With the mounting pressure to meet stringent compliance requirements from regulators and industry bodies, mid-market businesses often face challenges due to limited budgets and understaffed teams. Scrut Automation aims to bridge this gap by offering a flexible and scalable GRC platform tailored to each organization’s specific needs, risks, and resources.

“Our platform is designed to empower mid-market organizations with the tools they need to build robust GRC programs that align with their goals and regulatory requirements,” says Aayush Ghosh Choudhury, Co-founder and CEO of Scrut Automation. “We offer a solution that goes beyond off-the-shelf compliance automation tools, providing a personalized approach that integrates seamlessly with each company’s unique environment.”

The Scrut platform’s core strength lies in its configurability, allowing companies to create GRC programs that are closely aligned with their regulatory frameworks and industry standards. By automating tests across more than 70% of controls and integrating with over 75 products, Scrut Automation streamlines manual tasks for risk and compliance teams, providing near-real-time visibility into their risk and compliance posture.

“We believe that AI-driven automation is the future of GRC, and we are committed to providing our customers with a platform that not only reduces manual effort but also enhances their overall risk and compliance management practices,” adds Choudhury.

Scrut Automation’s commitment to innovation and customer-centric approach has earned it recognition from G2, a social software review platform, which named it among the fastest-growing products and best security software in 2024.

“We are proud to support Scrut Automation in their mission to revolutionize GRC for mid-market companies,” says Anvesh Ramineni, Managing Partner at MassMutual Ventures. “Their platform addresses a critical need in the market and has the potential to drive significant value for businesses worldwide.”

Prior to founding Scrut Automation, Aayush Ghosh Choudhury and Jayesh Gadewar were involved in building a procurement suite, where they experienced firsthand the challenges of fulfilling risk and compliance requirements for enterprise customers. Recognizing the widespread need for a comprehensive GRC solution, they teamed up with Kush Kaushik to create Scrut Automation. Together, they have helped over 800 customers worldwide build enterprise-grade GRC programs.

With the support of their investors, advisors, and dedicated team, Scrut Automation is poised for continued growth and success as it revolutionizes the way mid-market companies approach governance, risk, and compliance.

For more information, please visit Scrut Automation’s official website.