Receiving Funding, Startup SaaS "Scrut Automation" Ready to Expand to Indonesia

SaaS startup Scrut Automation is set to expand into Indonesia, Singapore and the United States after securing funding of $7,5 million or around 113,7 billion Rupiah led by MassMutual Ventures. Indonesia and Singapore are considered as crucial markets for Scrut's next stage of growth.

In his official statement, Scrut Automation Co-Founder and CEO Aayush Ghosh Choudhury said, "This capital injection will help his team deepen product capabilities and expand market presence."

In addition, Scrut will use these fresh funds to simplify risk management and information security compliance for companies in SaaS, fintech, and healthtech-based environments. cloud. These three industries have enormous growth potential, but also greater risks that require an appropriate risk management system.

Scrut Automation is an automation platform for governance, risk and compliance based in India. Scrut is designed to simplify monitoring of enterprise-based information security cloud. The platform was founded by three Co-founders, namely Aayush Choudary, Jayesh Gadewar and Kush Kaushik with the vision of monitoring information security and making it accessible throughout the organization.

Starting as a business governance automation platform, Scrut extends its reach into the realm of information security in operations and enhances comprehensive risk visibility. Currently, products that have been developed, including GRC, solution one pintu for risk monitoring, information security, and compliance.

For information, MassMutual Ventures is known to be actively funding the risk and security sectors, including cyber risk prediction and management, risk assessment, data security, and IoT. Meanwhile, this funding was also injected by previous investors, namely Lightspeed India Partners and Endiya Partners.

Business governance solutions

Most large companies still use legacy Enterprise Risk Management (ERM) tools to manage their risk assessment and management processes. However, these products tend to be difficult to adopt for SaaS companies and fintech medium scale. In addition, most products do not have relevant integrations.

The Scrut platform is claimed to be able to lighten the company's burden in maintaining security and compliance by up to 70%. In addition, it also monitors the security of company-based information cloud small, medium and large scale to meet various information security standards.

Scrut targets small to large scale companies in the world. Scrut also helps customers build a strong information security system based on their risk profile so that it can meet more than 20 key standards, including ISO 27001, SOC 2, GDPR, NIST, CCPA, HIPAA, PCI DSS.

In Indonesia, sector fintech is estimated to have a bright future with a CAGR growth of 15 percent (2022-2027). The global fintech transaction value is estimated to reach $28 trillion by 2027. There are five segments fintech main roles in transforming the financial sector in Indonesia, namely Neobanking, Alternative Financing, Digital Assets, Digital Investment, and Digital Payments.

From the side healthtech, Indonesia's total market size in 2018 is $80 billion. This figure is expected to continue to increase to 16 percent in five years. Reported from Asian Health Investors,  spending on public healthcare will double to $740 billion in 2017-2025.

In Indonesia, there are not many startups that also offer solutions related to business governance, such as RunSystem and The Essence of Global Solutions. Both of these players focus on offering solutions ERP.