What You Should Know:
– Scrut Automation, a provider of cloud-based Governance, Risk, and Compliance (GRC) platforms, has secured $10M in funding from existing investors Lightspeed, MassMutual Ventures, and Endiya Partners. This latest round brings the company’s total venture funding to $20.5M since its inception in 2021.
Empowering Mid-Market Businesses in a Complex Landscape
Scrut Automation was specifically designed to address the unique challenges faced by tech-first mid-market businesses in highly regulated industries such as healthcare, fintech, etc. These companies struggle with:
- Strict compliance demands from regulators and industry bodies
- Pressure to manage risk
- Limited budgets and understaffed teams
The situation is further complicated by factors such as:
- A rapidly evolving threat landscape fueled by advancements like generative AI
- Increased cybersecurity layoffs
- A widening cybersecurity skills gap
Scrut Offers a Scalable, Automated Solution
Scrut Automation provides an alternative approach, enabling companies to build scalable GRC programs tailored to their specific needs. The platform offers:
- Consolidation and Contextualization: Streamline compliance and risk management processes while identifying relevant risks and eliminating duplication of effort.
- Automation for Efficiency: Automate control monitoring with deep automation capabilities and a proprietary unifying control framework. Integrations with over 75 products and automation of over 70% of control tests minimize manual effort.
- Real-Time Visibility: Gain near real-time insights into your risk and compliance posture, allowing for proactive risk mitigation.
- Unified Compliance Framework: Eliminate the need for repetitive compliance demonstrations by linking controls to specific compliance requirements.
The Future of GRC: AI-Powered Concierge Services
Looking ahead, Scrut Automation aims to leverage AI to create an industry-first GRC concierge service for mid-market businesses. This AI-powered solution will empower companies to build robust risk and compliance practices with a reduced reliance on human expertise.
“Mid-market organizations have limited options,” says Aayush Ghosh Choudhury, Co-founder and CEO of Scrut Automation. “They can buy off-the-shelf compliance automation tools that offer a one-size-fits-all approach to compliance, disconnected from the organizational risks; or invest in expensive enterprise-grade tools with year-long implementation and underutilized features.”
