Scrut Automation, a SaaS Startup specializing in governance, regulation, and compliance management, has achieved a significant milestone in its growth trajectory. The company has secured $10 million in growth capital from existing investors Lightspeed, MassMutual Ventures, and Endiya Partners, marking a pivotal step for its expansion plans. This funding round will fuel platform enhancements, including the integration of generative AI for risk and compliance tasks, and support the company’s expansion into the North American and European markets.
In a statement, Aayush Ghosh Choudhury, Co-founder and CEO of Scrut Automation, highlighted the strategic allocation of funds, emphasizing the company’s commitment to capital efficiency. He stated, “We’ve been prudent in our spending, maintaining top-quartile capital efficiency, leaving substantial reserves from previous raises.” Choudhury elaborated on the company’s plans, indicating a focus on R&D and accelerating the US go-to-market strategy. He noted ongoing piloting of AI-driven use cases, with plans for commercialization in the near future.
Scrut Automation’s platform streamlines compliance and risk management processes for companies, offering contextualized risk assessments, reduced duplication of effort, and automated control monitoring. Targeting small- and mid-market companies facing challenges in accessing specialized compliance consultants, the company has gained traction across sectors like healthcare and financial services. Dev Khare, Partner at Lightspeed, praised Scrut’s user-friendly approach, citing the platform’s effectiveness in alleviating burdens for security and GRC teams.
With this latest funding round, Scrut Automation has raised a total of $20.5 million since its inception in 2021. Co-founded by Aayush Ghosh Choudhury, Jayesh Gadewar, and compliance expert Kush Kaushik, the company has grown its team to 120 members, with operations spanning India, Southeast Asia, and the United States.
