Scrut Automation has raised a new round of funding of $7.5 Mn, led by MassMutual Ventures, with existing investors, Lightspeed and Endiya Partners.
In the last few years, frequency and intensity of breaches have increased drastically, which have made it imperative for cloud-native enterprises to continuously monitor their Security posture, and comply with multiple frameworks across geographies.
The platform plans to use the fresh capital to simplify risk management and infosec compliance for cloud-native SaaS, Fintech, and Healthtech companies – automating ~70% of manual tasks and reducing tool fatigue from managing disparate point tools for security.
Scrut will deepen its risk observability and management capabilities, as well as expand its presence in the US market with the assistance of MassMutual Ventures’ expertise.
The company currently works with customers in India, Singapore, and the US, providing them with a unified view of an organization’s compliance posture.
Commenting on the latest fundraise, Aayush Ghosh Choudhury, CEO and Co-Founder of Scrut Automation, says, “We at Scrut have been hyper-focused on helping CISOs and InfoSec Heads across cloud-native companies build and maintain a risk-first security posture, enabling them, in turn, to become more agile in managing their risk and security posture and simplify compliance across 20+ InfoSec standards with ease. The fresh capital infusion will help us deepen our product capabilities and expand our market presence for mid-market CISOs. We are happy to have marquee investors backing us in our journey.”
Anvesh Ramineni, Managing Partner at MassMutual Ventures, added, “We are delighted to support the Scrut team, as we believe their robust compliance and security offerings will assist rapidly growing companies around the world in accelerating revenue growth. Scrut’s leadership team’s deep domain expertise and strong understanding of customer needs, coupled with the platform’s risk-first approach and scalability have been the primary reasons for its success. The product roadmap is exciting, with significant enhancements to risk observability, control automation, monitoring, and orchestration capabilities and will position Scrut as a leader in the space.”
Dev Khare, Partner, Lightspeed said; “The rise in cybersecurity threats around the world is real and fast-growing. We are excited to see Scrut’s GRC one-stop shop solution address this threat. As a result, there is widespread acceptance of Scrut’s GRC solution by mid-market enterprises in the US and Asia.”
Sateesh Andra, MD, Endiya Partners, added, “Endiya Partners is proud to be a part of Scrut Automation’s journey from the beginning. Organizations need to keep up with the ever-changing and complex information security landscape to remain compliant with SOC 2, GDPR, CCPA, and other regulations. This makes investing in the right Governance, Risk and Compliance (GRC) platforms necessary and Scrut Automation provides the perfect solution. Scrut combines multiple capabilities across cloud governance, policy and evidence management, asset management into a comprehensive risk-first approach – which reduces tool fatigue for CISOs at mid-market and growth stage companies.”
