HR solutions provider Greytip raises Rs 35 cr from NEA and Blume Ventures

The firm plans to utilise the capital to cater to a wider set of small businesses and expand into tier 1 & 2 cities

Greytip Software, a provider of HR and payroll automation solutions to small and medium enterprises across the country, has raised Rs 35 crore in funding from New Enterprise Associates and Blume Ventures.

The firm, whose solution is deployed at over 3,500 businesses and manages over 300,000 employee profiles, says it will utilise the capital to enhance its software solution in order to appeal to a wider set of businesses and to expand its presence into Tier 1 and Tier 2 markets.

"We have constantly obsessed about how we can help SMEs easily and efficiently manage their HR and Payroll processes. In NEA and Blume Ventures, we see ideal partners who believe in our vision of helping small businesses use cloud to cut down operation costs and improve productivity," said Girish Rowjee, CEO of Greytip, in a statement.

Greytip allows small businesses to manage every employee's payroll, leave and attendance, helping them reduce manpower hours that it would take to do these tasks manually. The company also provides an app with which employees will be able to check the status of their TDS, PF and other information.

"Greytip has been a pioneer in developing an SMB-centric solution that's a leader in India already in its space. Scaling this beautifully to both large enterprises now and regional markets across Asia, we are very excited to deepen our investment into Greytip after being their first believers a couple of years ago," said Karthik Reddy, managing partner at Blume Ventures.