Techjockey News

Scrut automation, which is a SaaS based risk, governance, and compliance software provider, has managed to secure $7.5 million in a funding round that was led by Mass Mutual Investors. Lightspeed India ventures and Endiya partners, who are their existing backers, accompanied them to the funding round.

The startup has managed to raise $11 million until now including the latest funds. The funds will be utilized for developing new use cases in cyber security and information security and extend its presence in the US.

Scrut is a paid platform that offers a united control structure to small and mid-sized companies. The company majorly helps medium and small cloud-native businesses develop and maintain a strong security posture, and meet various information security standards such as ISO 27001, GDPR, SOC 2, etc.

The company has reportedly grown 45 times since its last funding session, where it recorded $35K as ARR or annualized revenue. It has a target to grow 4 times on the revenue front by the end of the 2023 calendar year. According to Scrut, it has delivered services to more than 250 companies across the globe and has a global employee base of over 65 employees.

In the GRC area, the company has competitors like LogicGate, MetricStream and Enterprise Process Center Solutions etc.