Scrut Automation, a Bengaluru, India-based governance, risk, and compliance (GRC)-focused SaaS startup, raised $7.5 million in strategic funding, bringing its total raised to $11 million.
The round was led by MassMutual Investors, with participation from Endiya Partners and Light Speed India Ventures.
The new funds will be used to develop new cyber security information security use cases and expand its presence in the United States.
“We have a strong presence in the US and also, have a team based in that country. So, for the next couple of quarters, we will invest in building our go-to-market strategies targeted for the US market,” Aayush Ghosh Choudhury, founder of Scrut Automation, told Inc42.
Scrut provides additional offerings including a third-party risk assessment risk module, an asset management module, and a trust vault, which helps companies build trust with enterprise customers.
The startup delivers services to more than 250 companies across the globe and manages a base of over 65 employees globally.
Company: Riversys Technologies Private Limited
Raised: $7.5M
Round: Strategic Funding
Funding Month: February 2023
Lead Investors: MassMutual Investors
Additional Investors: Endiya Partners and Light Speed India Ventures
Company Website: https://www.scrut.io/
Software Category: Governance, Risk, and Compliance (GRC)
About the Company: Founded in 2021 by Aayush Ghosh Choudhury, Kush Kaushik, and Jayesh Gadewar, Scrut Automation, is a full-stack information security compliance platform that automates compliance-related collaboration, controls, and monitoring. It is a subscription-based platform that offers a unified control framework to small and mid-sized companies. Scrut Automation helps early-stage and growth-stage startups which struggle to identify and manage risks to their security posture, jeopardizing their ability to either achieve or maintain compliance with their key frameworks. The company is on a mission to simplify risk-based information security for cloud-native companies.
Source: https://inc42.com/buzz/lightspeed-india-backed-scrut-automation-bags-7-5-mn-funding-from-massmutual/