Bengaluru based greytHR raises INR 51.8 crore led by Info Edge
- ByTejika Bajaj | November 24, 2021
Bengaluru based HR tech startup greytHR has announced that it has raised INR 51.8 crore in its recent round of funding. The funding round was led by Sanjeev Bikchandani-led Info Edge as well as MegaDelta Capital through Millena FVCI III Ltd.
greytHR has issued 6,20,000 Series D compulsory convertible debentures to the existing shareholders Info Edge and Millena Capital for the trade. This investment comes just two years after the parent company of greytHR raised INR 34.5 crore in Series C round of funding.
Headed by Girish Rowjee and Sayeed Anjum, greytHR is a subsidiary of Greytip Software Private Limited, a people management software company serving SMEs. GreytHR is a cloud based HR and Payroll automation tool that simplifies processes in areas like HR, payroll management, leave and attendance tracking.
The HR tech startup serves more than 10,000 customers and manages around 1.3 million user records daily. The startup competes with the likes of bootstrapped unicorn Zoho’s Zoho People, NASDAQ listed Freshworks, Darwinbox, Advantage Club and Dockbal among others.
According to the Fortune Business Insights report, “Digital transformation is likely to disrupt industries post the Covid-19 crisis. The rapidly changing market dynamics of business models have forced HR teams to adopt new ways to respond to the needs of the workforce.” With the proclamation made by the report, greytHR is likely to see a surge in its revenue over the coming years.
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