Press Release
Scrut Automation raises $10M in growth capital from Lightspeed and MassMutual Ventures to accelerate growth in North America
–News Direct–
GRC platform Scrut Automation announced today that it has raised $10 million in growth capital from existing investors Lightspeed , MassMutual Ventures and Endiya Partners. The Scrut Automation team will use the funding to enhance their platform capabilities, incorporate generative AI use cases to reduce the manual effort for risk and compliance teams and expand to North American and European markets.
With this round, the company has now raised $20.5 million in total venture funding since its inception in 2021.
Scrut Automation was created to address the unique risk and compliance challenges faced by tech-first mid-market businesses in highly regulated industries. These companies grapple with stringent compliance requirements from regulators and industry bodies, and mounting pressure to keep risk under the threshold, but are often hindered by limited budgets and understaffed teams. Moreover, a rapidly evolving threat landscape, accelerated by the adoption of generative AI, massive layoffs in cybersecurity teams, and the counter-intuitive, yet very real increasing skill gap in cybersecurity further exacerbate the problem for the teams.
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.
Scrut Automation provides a third option for companies that seek to build scalable GRC programs aligned with the organizations goals, risks, and resources. Scrut helps companies consolidate their compliance and risk management processes while contextualizing their risks, reducing duplication of effort, and automating control monitoring.
A core USP for Scrut is offering an extremely high degree of flexibility in creating GRC programs that fits closely with the customers 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. Scrut has 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, added Aayush Ghosh Choudhury.
The Scrut platform pairs this configurability with deep automation capabilities and a proprietary unifying control framework. Integrating across a growing library of 75+ products, Scrut automates tests across more than 70% of the controls, reducing manual effort in chasing control owners and capturing evidence. This enables GRC teams to get near-real time visibility into their risk and compliance posture, enabling them to take corrective action on time. The unifying control framework ties the organizations controls to compliance requirements, which eliminates the duplicate effort required to demonstrate compliance with different frameworks.
Scrut customer Keshav Kumar, Data Protection Officer at VWO said: Over the last financial year, we entered new geographies and industries, which were key drivers for our rapid growth. Our compliance requirements grew at a similar pace. Sourcing information across stakeholders, through multiple Google sheets, slack channels, and emails for compliance is an arduous job, something we dont have to worry about since implementing Scrut.
As Scrut continues to grow, it aims to help mid-market companies build strong risk and compliance management practices with reduced dependency on human capacity and expertise, through an AI-first GRC concierge.
"A strong security posture has always been a core need for large enterprises globally. Given the increase in the number of breaches and attacks over the past few years as well as increase in regulatory compliance requirements, mid-size enterprises are now adopting strong Governance, Risk, and Compliance (GRC) practices. Scrut's user-friendly and market-leading platform reduces this burden for security and GRC teams. We are happy to reaffirm our commitment to supporting the Scrut team." says Dev Khare, Partner at Lightspeed.
Scrut Automation has been recognized by G2, a social software review platform, on their 2024 lists for fastest-growing products and best security software .
Legacy GRC products are built for enterprises, but fail to meet the needs of high-growth tech-first companies, says Anvesh Ramineni, Managing Partner at MassMutual Ventures. Scrut Automation is built specifically to cater to their needs and addresses their pain points seamlessly. We're excited to support Aayush, Jayesh, Kush, and the Scrut team in building one of the fastest-growing GRC platforms globally.
Prior to Scrut Automation, co-founders Aayush Ghosh Choudhury and Jayesh Gadewar were building a procurement suite, where they spent months trying to fulfill the risk and compliance needs of their enterprise customers. Recognizing this widespread pain, they teamed up with Kush Kaushik, their third co-founder, who was helping them navigate the challenging terrain of compliance, to build Scrut Automation. With Scrut Automation, they have helped over 800 customers worldwide build enterprise-grade GRC programs.
The company has also added angels and advisors from SaaS and cybersecurity sectors, including Sandeep Johri (CEO, CheckMarx), Sachin Lawande (CEO, Visteon), Vetri Vellore (Ex-Corporate VP at Microsoft), Naresh Agarwal (Head of India R&D for Traceable), Davis Hake (Co-founder, Resilience) and Todd Dekkinga (CISO, Zluri), to name a few.
About Scrut Automation
Scrut Automation is a SaaS-based Governance, Risk, and Compliance (GRC) platform that enables risk and compliance teams to establish scalable security controls and processes, and automate workflows seamlessly. By consolidating processes and eliminating the need for multiple legacy platforms and spreadsheets, Scrut Automation provides complete visibility into organizational risks, reduces compliance workloads, and simplifies audits. For more information, visit https://www.scrut.io/
Lightspeed is a global multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, Health, and Fintech sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including Affirm, Acceldata, Carta, Cato Networks, Darwinbox Epic Games, Faire, Innovaccer, Guardant Health, Mulesoft, Navan, Netskope, Nutanix, Rubrik, Sharechat, Snap, OYO Ultima Genomics and more. Lightspeed and its global team currently manage $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. www.lsip.com
About MassMutual Ventures
MassMutual Ventures (MMV) is a multistage global venture capital firm investing in financial technology, enterprise SaaS, healthtech, climate technology and cybersecurity companies. With teams based in London, Singapore, and Boston, MMV manages over $1 billion in investment capital across the globe. We help accelerate the growth of the companies we partner with by providing capital, connections, and advice. With our deep expertise and extensive network, MMV helps entrepreneurs build compelling and scalable companies of value.. For more information, visit https://www.massmutualventures.com/
About Endiya Partners
Endiya Partners is an early-stage venture capital firm with a proven track record of investing in scalable product startups. With a deep understanding of their domain and vast experience in entrepreneurship and operations, the Endiya team plays a major role in developing scalable businesses. The firms notable portfolio consists of multiple category-creating companies, including Darwinbox, Cult.fit, Kissht, SigTuple, Zluri, Qapita, Eyestem, Sugar.fit, Mylo, Scrut Automation, Steradian Semiconductors, Karkinos, Grip Invest, Myelin Foundry, and BluJ Aerospace. Founded in 2016, Endiya Partners has $100M under management. For more information, visit: https://endiya.com/
Contact Details
Scrut Automation
Bilal Mahmood
+44 7714 007257
b.mahmood@stockwoodstrategy.com
Company Website
View source version on newsdirect.com: https://newsdirect.com/news/scrut-automation-raises-10m-in-growth-capital-from-lightspeed-and-massmutual-ventures-to-accelerate-growth-in-north-america-239522860
Scrut Automation
COMTEX_450224125/2655/2024-04-02T09:04:29
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Press Release
Step into a World of Strength and Survival with ‘The Eyes From Above’
Uncover The Secrets Of The Eyes From Above: Jabari Lamb Invites Readers On An Inspiring Journey Of Triumph, Survival, And Self-Discovery
Ride on a journey of power, survival, and the unbreakable human spirit in the new novel by Jabari Lamb titled “The Eyes From Above.” A Nationwide Release will thereafter tell the story of family, perseverance, and reclaiming one’s identity in a world fraught with danger and hostility.
Track the life of Connie, fighting his way through dangerous waters to uncover long-buried truths about his family’s past, as he evades sinister forces who are determined to stop him at every step. In Charleston, South Carolina, this is the story peeling historical trauma, mythical elements, and an African sense of roots into a bewitching tapestry of history, fantasy, and raw emotion.
There’s that richness of culture and heritage alive through the eyes of his Gullah Geechee perspective: all the trials and triumphs of the African diaspora. He spent time abroad in South Africa, exploring other pockets of the African continent; he weaves a very personal, detailed narrative of African traditions and powerful ancestral connections that should speak to readers from every part of this world.
For high drama or soul-stirring histories, be sure to read “The Eyes from Above” to question what truth is and what is in memory. This book is available in bookstores all over the country and in stores online.
About the Author
A bold, new voice in literature, Jabari Lamb blends history and mythology and his Gullah Geechee heritage in stories hard to forget. This impressive young writer’s novel, The Eyes From Above, explores African roots and displacement based on his journey learning about the Gullah Geechee people, the history of African-Americans, and his trip to South Africa. A voice unique unto his own, Jabari extends the invitation to the reader to consider the fluidity of memory and identity and, indeed, the truth. The Eyes From Above makes its wonderful debut into the literary world.
Media Contact:
Contact Person: Jabari Lamb
Email: Jabarilamb1847@gmail.com
Phone: 770-580-3190
Website: Jabarilamb.com
City: Atlanta
State: Georgia
Country: United States
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Press Release
Yijin Hardware Delivers High-Quality Sheet Metal Fabrication Services Worldwide
United States, 17th Oct 2024, – Yijin Hardware, a key player in precision CNC machining, has announced the global expansion of its sheet metal fabrication services. This development is aimed at supporting industries worldwide with high-quality, custom-engineered metal components. By extending services to new markets, Yijin Hardware strengthens its position as a reliable manufacturing partner for sectors that require precise, durable parts, such as automotive, aerospace, and electronics.
Yijin Hardware has a long history of providing precision-engineered components, and its expansion into international markets reflects the company’s response to rising demand for reliable sheet metal fabrication services. The new offerings will include laser cutting, metal bending, welding, and a variety of other fabrication processes, designed to accommodate a wide range of industrial applications.
“Precision and quality have always been at the heart of Yijin Hardware’s operations,” said Gavin Yi, CEO of Yijin Hardware. “The expansion of sheet metal fabrication services is a natural progression in the company’s growth, enabling access to more industries worldwide that require high-performance metal components for their operations.”
The sheet metal fabrication sector has seen increasing demand as industries move towards more complex and custom-engineered solutions. Yijin Hardware’s global expansion is positioned to meet these growing needs by offering scalable services that are capable of handling both small-scale production and larger manufacturing runs. The company’s advanced facilities are equipped with the latest machinery, ensuring that each part meets precise specifications and high-quality standards.
Yijin Hardware has also invested heavily in upgrading its production infrastructure to support the increased demand from international clients. Enhancements in laser cutting, welding, and assembly operations have been key factors in enabling the company to offer a more diverse set of services globally. The ability to handle custom and high-volume orders without compromising on quality is a cornerstone of Yijin Hardware’s service offerings.
“Looking ahead, Yijin Hardware is committed to further advancing its manufacturing capabilities,” Gavin Yi added. “There are plans to introduce more cutting-edge technologies that will enhance both CNC machining and sheet metal fabrication services. These advancements will ensure the company remains well-positioned to address the evolving needs of industries in the future.”
Yijin Hardware’s expanded services will cater to industries with a need for complex, high-precision components, including automotive parts, aerospace structures, and electronic enclosures. With a focus on maintaining strict quality control throughout the production process, the company aims to provide solutions that meet exacting industry standards.
As part of its expansion strategy, Yijin Hardware continues to emphasize innovation and efficiency. These principles are expected to guide the company’s future developments as it explores new manufacturing technologies and methods. The expansion also supports the company’s vision of being a global leader in precision engineering.
For further information about sheet metal fabrication services, please contact Yijin Hardware at +1 626 263 5841 or via email at yijing@yijinsolution.com.
Media Contact
Organization: Yijin Hardware
Contact
Person: Gavin Yi
Website:
http://yijinsolution.com/
Email:
yijing@yijinsolution.com
Country:United States
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
Yijin Hardware Offers Global CNC Machining Services from China
United States, 17th Oct 2024, – Yijin Hardware, a well-established provider of custom CNC machining services, has announced its expansion into global markets. The company, recognized for its precision manufacturing capabilities, aims to support international businesses in industries such as aerospace, automotive, electronics, and medical with tailored CNC solutions. This move comes as industries worldwide increasingly require high-quality, custom-manufactured components to meet modern production needs.
Yijin Hardware’s decision to extend its services beyond China reflects its commitment to addressing the needs of a broader range of industries. With years of experience in CNC machining, the company has developed a reputation for delivering reliable and precise parts to a diverse set of clients. The expansion will provide industries worldwide with access to Yijin Hardware’s capabilities, backed by advanced technology and stringent quality control.
Gavin Yi, CEO of Yijin Hardware, commented on the expansion: “This move into international markets represents a significant milestone. Yijin Hardware has always emphasized precision and reliability, and this expansion allows those same standards to be brought to clients around the world. Whether the project involves a small batch of components or a large production run, the company is prepared to meet the exacting standards required by global industries.”
Operating from its facilities in Shenzhen, Yijin Hardware manages the full lifecycle of production, from initial design to final inspection. This comprehensive approach ensures that each project is carefully monitored to meet specific client requirements. Yijin Hardware’s ability to offer customized machining solutions is seen as a key factor in its growth, particularly as companies increasingly seek specialized components for complex applications.
Previously focused primarily on the domestic market in China, Yijin Hardware’s expansion aims to deliver the same level of precision and service to international clients. By positioning itself as a global CNC machining provider, the company plans to strengthen relationships with existing partners while establishing new connections in other regions.
This global expansion comes at a time when demand for CNC machining services is rising due to the increasing complexity of product designs and the need for enhanced precision in manufacturing. As industries continue to evolve, CNC machining remains crucial to ensuring that parts meet exact specifications. Yijin Hardware has embraced this role through continuous investment in advanced equipment and machining techniques.
Looking ahead, Yijin Hardware is also focused on the future of manufacturing and its impact on sustainability. The company plans to explore new methods that reduce material waste and promote more efficient production processes. According to Gavin Yi, “As the company expands globally, attention is focused not only on immediate goals but also on contributing to long-term sustainable manufacturing. CNC machining plays a critical role in reducing waste and improving production efficiency. Yijin Hardware is committed to finding ways to make processes more environmentally friendly, to become a leader in both precision and sustainability.”
Yijin Hardware’s entry into global markets signals a broader shift in its strategy, focusing on serving a more diverse range of industries with its expertise in CNC machining. By offering international clients access to its advanced manufacturing solutions, the company aims to become a trusted partner for businesses looking to streamline production with high-quality, custom-manufactured parts.
For more information about Yijin Hardware’s global CNC machining China, inquiries can be directed via phone at +1 626 263 5841 or by email at yijing@yijinsolution.com.
Media Contact
Organization: Yijin Hardware
Contact
Person: Gavin Yi
Website:
http://yijinsolution.com/
Email:
yijing@yijinsolution.com
Contact Number: 16262635841
Country:United States
The post Yijin Hardware Offers Global CNC Machining Services from China appeared first on
Brand News 24.
It is provided by a third-party content
provider. Brand News 24 makes no
warranties or representations in connection with it.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
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