GreytHR, a HR automation and payroll product, which runs under Greytip Software Private Limited (GSPL), has bagged INR 34.5 crore from Info Edge and MegaDelta Capital through its series C funding round, Yourstory reported.
Post transfer, Info Edge to come onboard as a new investor in the GreytHR. The platform GreytHR said that it will use the funds for sales and market expansion and for new product innovations.
Girish Rowjee, CEO, Greytip Software said, “We strongly believe that this fundraise is pivotal in accelerating Greytip’s growth story. We look forward to working with Info Edge given their deep understanding of the HR business and the SaaS space, as we chart out our next wave of growth plans. We also want to thank the support from our existing investors Mega Delta Capital (previously NEA India) and Blume Ventures.”
Greytip Software is India’s largest provider of cloud HR & Payroll software solutions. With a customer base of over 7000, its mission is to improve people-centric practices and performance in SMEs (Small and Medium Enterprises) through our cloud solution, greytHR.
Greytip already has a presence in 150 cities across India and the Middle East.
With over 9000 customers and 1 million pay slips being generated on the platform, Greytip claims to be one of the largest players in the SMB HR tech space in India.
Chintan Thakkar, CFO Info Edge (India) Ltd said, “We are excited to partner with Greytip. We believe Greytip has built a strong B2B SaaS business in a segment which has been traditionally underserved and have been tough for technology companies in India to penetrate.”
The platform further said that with over two decades of market presence in this space, greytHR, with this new round of funding will now be able to further cement its leadership in the SMB segment by reaching out to millions of SMBs in India who are keen to adopt such digital products but are currently not served.