Greytip Software offers greytHR, a cloud-based human resources and payroll management platform that helps companies streamline HR operations, manage payroll processes and statutory compliances. The company serves more than 9,000 customers and generates 1 million payslips on the platform every month. It has a presence in 150 cities across India and the Middle East. Greytip's product targets small and medium businesses with a SaaS delivery model. The fresh capital from the Series C round is intended to help the company enter new markets, drive sales and marketing, and increase its customer base. Greytip was founded in 1994 by Girish Rowjee and Sayeed Anjum. Greytip provides greytHR, a cloud-based solution that helps SMBs manage payroll and other HR processes online, focusing on technology rather than services. The company reports 3,000 paying customers and about 600 trial users across 60 cities, and aims to reach 10,000 organisations within 18 months. Management says the new funds will be used primarily to enhance the existing product and to reach a larger segment of the market. Investors praised Greytip's ability to achieve tech leadership and meaningful scale in the SaaS-based HR and payroll market in India. The company is positioning to scale into larger enterprises and to expand across regional markets in Asia. Greytip Software is a cloud-based HR and payroll management firm serving small and medium enterprises. It offers a complete employee lifecycle management solution including employee information management, headcount analysis, payroll processing, leave and attendance management, and workflow management. Its solutions are available in both on-premise and SaaS models. Greytip says it manages more than 5 lakh employee records daily and serves about 2,500 clients across India, Malaysia, the UAE and Oman. Its clientele includes Manipal Hospital, OrangeScape, Greenpay and FMC India, and it maintains offices in Mumbai, Delhi, Pune, Chennai, Hyderabad, Dubai and Bangalore. The company plans to use the new funding to scale marketing and sales to reach more SMEs and expand in the domestic cloud HR and payroll automation space.

Total raised

$5M

Funding rounds

3

Latest round

Series C

Latest activity

Oct 2019