Bangalore, June, 2014: Greytip Software today announced that it has successfully raised funding from Mumbai based venture fund, Blume Ventures. Greytip will use the funds raised to accelerate their growth in the domestic cloud HR and Payroll automation space.
“Indian SMEs are hungry for quality software solutions that can give them a competitive edge. It’s just that they are not aware of good solutions like GreytHR that help them streamline HR and payroll processes within the organization. Our vision is to help tens of thousands of such businesses thrive and succeed. The funding will help us scale our marketing and sales efforts in reaching out to SMEs”, said Girish Rowjee, CEO of Greytip, adding “In Blume, we find an ideal partner who shares this vision.”
Mr. Karthik Reddy from Blume Ventures said, “In Greytip, we found a unique opportunity to enter a relatively mature company with a founding team that had worked together for almost two decades. They had successfully reinvented the business to a rapidly scalable SaaS business and Blume and the founders thought it was a great idea to partner before the next leap of growth. We think Greytip is poised to be a great SME SaaS story in India and globally, and are happy that we managed to make it one of the final investments in Fund I”.
Greytip is the leading cloud HR Company in India with nearly 2000 organizations using their SaaS application – GreytHR. These customers are spread across in 60+ cities in India and across all types of industry segments. An early mover in the cloud HR automation space, Greytip is the winner of several awards from NASSCOM and Product Nation.
About Greytip:
Founded in 1994, Greytip Software enables 2500+ clients across India, Malaysia, UAE and Oman to manage more than 5,00,000 employee records on a daily basis. Greytip has presence in Bangalore, Mumbai, Delhi, Pune, Chennai, Hyderabad & Dubai.
Greytip Solutions help to automate Employee Information Management, Attendance Management, Payroll & Statutory Compliances and Training Administration. These solutions are available in two delivery models – an on-premise model – Folklore HRIS and On Demand Model – GreytHR.
About Blume Ventures:
Blume Ventures is a leading early-stage seed & pre-series venture fund based out of Mumbai, India. Blume provides seed funding in the range of $50K – $300K to early-stage tech-focused and tech-enabled ventures. They are proponents of a collaborative approach and like to co-invest with like-minded angels and seed funds. They then provide follow-on investments to their stellar portfolio companies, ranging from $500K – $1.5 million.
