PNN
New Delhi [India], August 8: greytHR, a full-suite HRMS provider, announced that it has secured its largest investment, in the Series F funding round, from Apax Digital Fund II (“the Apax Digital Funds”), advised by Apax, a leading global private equity advisory firm. The company will use the funds to leverage the significant growth opportunities in the cloud-based HR software market.
greytHR offers 40+ tools for automating HR, payroll, leave & attendance, and performance management, along with an employee self-service portal and mobile app. Serving over 23,000 customers in 25+ countries, it is a comprehensive HR ecosystem featuring HR professionals, experts, and chartered accountants. greytHR’s customer-centric services include a community, training academy, compliance website, resources, webinars, and an award-winning podcast series.
“We’re excited to welcome Apax as part of our growth journey, marking a significant milestone for greytHR. This substantial investment will enable us to further enhance our product portfolio by adding more strategic HR modules focused on recruitment and talent management. We also plan to accelerate growth and expansion into new customer segments, cementing our position as a market leader. We look forward to further accelerating our growth with the backing of Apax and our continuing shareholders Info Edge and GMO. Greytip wouldn’t be where it is today without the support of our customers, resellers, affiliates, and the entire greytHR community. We thank them for their support and confidence in us,” said Girish Rowjee, Co-founder & CEO of greytHR.
“This funding provides a significant boost to our plans for enhancing the customer experience and advancing our research and development initiatives. We are committed to continuously enhancing our platform to meet and exceed the dynamic needs of our users, ensuring they gain unparalleled value and efficiency from our offerings. Through our world-class HR tech solutions, we have already started adding and building out AI-enabled modules and other value-added services to help our customers optimize their investment in greytHR,” added Sayeed Anjum, Co-founder & CTO of greytHR.
Mark Beith, Partner and Shashwat Shukla, Vice President at Apax Digital, commented: “Small and mid-sized companies are pillars of the economy but have been underserved by legacy payroll and HCM solutions. greytHR enables businesses to save time and money by moving from complex and error-prone manual work to an automated and accurate next-gen solution with a mobile-first interface that delights employees. Drawing on our experience in the sector from previous Apax Fund investments, such as Paycor and Zellis, and having tracked the company for over two years, we are thrilled to partner with Girish, Sayeed, and their team to take greytHR to new peaks.”
greytHR’s team, now present across India, has been a key part of its success, laying a strong foundation for the company’s achievements. As greytHR looks to the future, the team remains committed and will continue to push the boundaries of innovation and deliver even greater value to customers.
About greytHR (https://www.greythr.com/):
greytHR is a full-suite HRMS platform that simplifies, expedites, and even automates complex, recurring, and yet critical functions of HR and payroll, in a compliant and secure way. greytHR offers productivity tools for better people management, simpler HR processes, and professional delivery of HR and payroll services.
While it has a vast portfolio of HR products, greytHR’s deep product expertise lies in administrative HR, payroll, workforce management, and employee engagement. The platform also offers an app marketplace (to enable affinity use cases), mobile employee self-service, and lossless implementation. While other HR products barely scratch the surface, greytHR has productized deep and complex HR tasks.
greytHR software is currently used by 23,000+ organizations and 2.3 million users across India and 25+ countries. greytHR has grown to almost 700 employees, serving India, the Middle East, and beyond, with a fast-expanding partner network.
About Apax and Apax Digital
The Apax Digital Funds specialize in growth equity and growth buyout investments in high-growth enterprise software, data, and technology-enabled services companies worldwide. The Apax Digital team leverages Apax’s deep tech investing expertise, global platform, and specialized operating experts, to enable technology companies and their management teams to accelerate the achievement of their full potential. For further information, please visit www.apaxdigital.com.
Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For over 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $77 billion. These funds provide long-term equity financing to build and strengthen world-class companies. For further information, please visit www.apax.com.
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