Bengaluru-based start-up Scrut Automation has raised $7.5 million in a funding round led by MassMutual Ventures. Its existing investors Lightspeed and Endiya Partners also joined the round and increased their stakes in the company.
The platform plans to use the fresh capital to simplify its risk management and infosec compliance for cloud-native SaaS (software-as-a-service), Fintech, and Healthtech companies. Both are expected to automate nearly 70 per cent of manual tasks and reduce tool fatigue from managing disparate point tools for security.
Additionally, the company 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. It currently operates in markets like India, Singapore, and the US.
Founded in 2021 by Aayush Ghosh Choudhury, Kush Kaushik, and Jayesh Gadewar, Scrut Automation provides an information security monitoring platform and aims to help small and medium cloud-native enterprises to develop and maintain a robust security posture, and comply with various infosec standards such as SOC 2, ISO 27001, GDPR, and the like with ease.
Talking about fundraising, Aayush Ghosh Choudhury, CEO (Chief Executive Officer) and co-founder of Scrut Automation, said, “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 more than 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.”
Addressing the investment, 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.”