Automated risk monitoring platform lands $10m to expand to North America, Europe

Scrut Automation co-founders (from left) Kush Kaushik, Aayush Ghosh Choudhury, and Jayesh Gadewar / Photo Credit: Scrut Automation

GRC – which stands for governance, risk, and compliance – has increasingly become more complicated to tackle given the rapid adoption of generative AI.

More companies involve genAI in their operations, yet the tech can be a hit or miss with the info it generates. Moreover, massive layoffs in the cybersecurity sector poke more holes for potential bad actors to go through.

This is a trend US- and India-based Scrut Automation said it has been seeing lately. This is also a problem it aims to help solve for tech-first mid-market businesses through its services, which focus on risk management as well as customer control and monitoring.

To help Scrut Automation reach more clients, the company recently raised US$10 million from existing backers Lightspeed, MassMutual Ventures, and Endiya Partners.

The funds will be used to bolster Scrut Automation’s platform and finance its expansion into Europe and North America. It also plans to implement AI solutions to lessen manual work from risk and compliance staff.

Established in 2021, Scrut Automation has secured a total of US$20.5 million in funding. Its platform, which is powered by automation and gives users unified control, allows quick views into risk and compliance for GRC teams.

“A core unique selling proposition for Scrut is offering an extremely high degree of flexibility in creating GRC programs that fit closely with the customer’s environment,” said Aayush Ghosh Choudhury, co-founder and CEO of Scrut Automation, in a statement.

The platform doesn’t offer a one-size-fits-all solution. Instead, Scrut allows organizations to tailor their GRC programs, aiming to address their exact pain points and align with industry standards.

The company said it has helped over 800 global clients create industry-grade GRC systems for themselves. These clients include equity management platform Qapita and customer engagement platform MoEngage.

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