Info Edge (India) will be investing about Rs 35 crore in Greytip Software, a provider of cloud HR and payroll software solutions. Greytip was founded in 1994 and started focusing on software as a service (SaaS) in 2011. It has over 9,000 customers spread over 150 cities in India and the Middle East.
A number of HR Tech startups have seen investor interest in recent times. This reflects on the ever growing need of businesses on effective tech enabled processes, and their willingness to leverage offerings on SaaS model.
“We believe Greytip has built a strong B2B SaaS business in a segment which has been traditionally underserved and have been tough for technology companies in India to penetrate,” said Chintan Thakkar, CFO at Info Edge.
“We strongly believe that this fundraiser is pivotal in accelerating Greytip’s growth story. We look forward to working with Info Edge given their deep understanding of the HR business and the SaaS space, as we chart out our next wave of growth plans,” Greytip Software CEO Girish Rowjee said.
InfoEdge owns and operates portals such as jobs site Naukri.com, real estate portal 99acres.com, matrimonial website Jeevansathi and education services portal Shiksha. Infoedge has earlier invested in startups such as Zomato, PolicyBazaar, Meritnation, Printo etc.
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