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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.