Scrut Automation, a SaaS company focused on governance, regulation, and compliance management, has raised $10 million in a funding round led by Lightspeed, MassMutual Ventures, and Endiya Partners. This investment will fuel the enhancement of Scrut Automation’s platform, including the integration of generative AI for compliance tasks, and support its expansion into North American and European markets.
The startup, known for helping businesses streamline compliance and risk management, has now secured a total of $20.5 million in funding since its 2021 launch by co-founders Aayush Ghosh Choudhury, Jayesh Gadewar, and Kush Kaushik. Currently employing 120 people, Scrut Automation operates in India, Southeast Asia, and the U.S., serving the healthcare and financial sectors among others.
“We’ve been really prudent about how we spent our money so far; we’ve maintained top-quartile capital efficiency. So, we have a lot of money left in the bank still from the previous raises.
Now most of the new corpus would be used towards R&D and accelerating a US go-to-market [strategy]. We built a bunch of very interesting use cases focused on AI that we’ve been piloting for the last couple of quarters, and they’re beginning to come to fruition. We should be able to commercialize them soon.”
— Aayush Ghosh Choudhury, Co-founder and CEO of Scrut Automation
“Scrut’s user-friendly and market-leading platform reduces this burden for security and GRC teams.”
— Dev Khare, Partner at Lightspeed
Featured image: Credit: Scrut Automation
