Governance, risk and compliance (GRC)-focused SaaS startup Scrut Automation raised $7.5 million in funds led by MassMutual Investors, which is the corporate venture capital arm of Mass Mutual Corporation where Endiya Partners and Lightspeed India Ventures also participated.
Scrut serves as a core GRC platform, assisting small and mid-sized businesses in managing multiple frameworks, policy life cycle management, and evidence collection. The SaaS startup intends to use the new funding to develop new cyber security information security use cases and expand its presence in the United States. The startup claims to have grown 45X since its previous funding round, in which it recorded $35K in annualised revenue ARR. It also intends to quadruple its revenue by the end of calendar year 2023.