Scrut Automation, a Bengaluru, India-based governance, risk, and compliance (GRC) platform, has raised $10 million in growth funding.
Investors
The funding round was from its existing investors Lightspeed, MassMutual Ventures, and Endiya Partners. With this round, Scrut Automation has now raised $20.5 million in total venture funding since its inception in 2021.
Lightspeed Venture Partners is a global venture capital firm focusing on seed-stage, early-stage investments, and growth-stage investments in the enterprise, fintech, consumer, and healthcare sectors. Founded in 2000, Lightspeed and its global team currently manage $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia.
MassMutual Ventures (MMV) is a multistage global venture capital firm investing in financial technology, enterprise SaaS, healthtech, climate technology, and cybersecurity companies. With teams based in London, Singapore, and Boston, MMV manages over $1 billion in investment capital across the globe. Founded in 2014, and is based in Boston, Massachusetts.
Endiya Partners is an early-stage venture capital fund that specializes in investing in Indian product startups that have global potential. Founded in 2016, Endiya Partners has $100M under management.
Scrut Automation Use of Funds
The company will use the funds to enhance platform capabilities, integrate generative AI use cases to streamline manual efforts for risk and compliance teams and facilitate expansion into North American and European markets.
About Scrut Automation
Founded by Kush Kaushik, Aayush Ghosh Choudhury, and Jayesh Gadewar, Scrut Automation is a company that provides a SaaS-based Governance, Risk, and Compliance (GRC) platform that enables risk and compliance teams to establish scalable security controls and processes and automate workflows seamlessly. By consolidating processes and eliminating the need for multiple legacy platforms and spreadsheets, Scrut Automation provides complete visibility into organizational risks, reduces compliance workloads, and simplifies audits.
Funding Details
Company: Scrut Automation Inc.
Raised: $10.0M
Round: Growth Round
Funding Month: April 2024
Investors: Lightspeed, MassMutual Ventures, and Endiya Partners
Company Website: https://www.scrut.io/
Software Category: Governance, Risk, and Compliance (GRC)
Source: https://www.prnewswire.com/in/news-releases/scrut-automation-raises-10-million-in-growth-capital-from-lightspeed-massmutual-ventures-and-endiya-partners-302107333.html