Greytip Software Pvt. Ltd. Amasses INR 34.5 Crore in Series C Funding Round
Deck- Greytip Software Pvt. Ltd. has amassed INR 34.5 crore in Series C funding round from Info Edge Ltd.
Bengaluru-based software firm, Greytip Software Pvt. Ltd. has amassed INR 34.5 crore in Series C funding round from Info Edge Ltd, as stated by the media agency, VC Circle.
Greytip Software renders cloud-based HR and payroll solutions to SME businesses.
Funds advised by MegaDelta Capital, an existing investor, also participated in this funding round, stated by VC Circle citing the companys official statement.
MegaDelta was initiated by persons who had earlier established New Enterprise Associates India, which had infused money in Greytip in 2016.
It will hold a stake of about 20.25 per cent in Greytip after the capital infusion, the media agency reported citing InfoEdges regulatory filings.
By acquiring fresh capital, the firm will enter new markets, enhance its sales as well as marketing operations, and expand its customer base.
Greytip was initiated in 1994 by Sayeed Anjum and Girish Rowjee, former students of Sri Jayachamarajendra College of Engineering. The companys primary product, greytHR aids firms in effectively employing HR operations and administer payroll processes as well as the legal framework.
The company claims to have over 9,000 customers and produced 1 million payslips on its digital platform per month. It also asserts to have expanded its services to 150 cities across India and the Middle East.