Scrut offers high degree of flexibility in creating GRC programs
Governance, Risk and Compliance (GRC) platform Scrut Automation https://www.scrut.io/ says the recently raised US$10 million in growth capital from existing investors Lightspeed, MassMutual Ventures and Endiya Partners, is to fund enhancing platform capabilities incorporating generative AI.
The California-based company with office in Delhi will also use the funding to expand to North American and European markets https://www.digitalasiahub.org/ .
With this round, the company has now raised US$20.5 million in total venture funding since its inception in 2021.
“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 https://ai.google/discover/generativeai ,” he said on 4 Apr.
“A core USP for Scrut is offering an extremely high degree of flexibility in creating GRC programs that fits closely with the customer’s environment. For example, a financial services company in the lending space will have very different regulations, compliance frameworks, and risks from a healthcare services company for hospitals.
“Scrut accounts for this context – as the platform adapts seamlessly to these differences. We have also built practice areas for regulated industries like healthcare, financial services, and enterprise software, that allow the platform to embed expertise in addition to automation,” elaborated Choudhury.
Scrut Automation was created to address the unique risk and compliance challenges faced by tech-first mid-market businesses in highly regulated industries. It provides a third option for companies that seek to build scalable GRC programs aligned with the organization’s goals, risks, and resources. Fiinews.com
