Japanese startup Josys has secured $93 million in a Series B funding round led by Global Brain and Globis Capital Partners. The company provides a software-as-a-service (SaaS) platform that automates corporate IT software application management. This latest investment follows a $32 million Series A round in September last year, bringing Josys’ total funding to $125 million.
Key Takeaway
Japanese startup Josys has raised $93 million in a Series B funding round, bringing its total funding to
25 million. The company offers a SaaS platform for automating corporate IT software application management and has experienced significant growth, with its customer base increasing to 300. Josys plans to use the funding to expand its workforce and distribution channels, aiming to offer services in over 100 countries by 2025.
Expanding Customer Base and Financial Success
Josys, which spun off from parent company Raksul in 2021, has experienced significant growth, with its customer base increasing to 300 small- to medium-sized enterprises. This represents more than triple the number of customers since August 2022. The company has achieved profitability by generating revenue through its SaaS management platform and IT outsourcing services. Josys boasts a net revenue retention rate exceeding 140% and a customer acquisition cost payback period of less than one year.
Comprehensive IT Device Lifecycle Management
Josys’ platform offers a range of IT device lifecycle management services, including purchasing, configuration, shipping, repairing, and storage of laptops and mobile devices. This solution is particularly practical for companies that operate in multiple countries. Since its Series A funding, the company has introduced additional features such as Shadow IT discovery, which enables users to uncover unregulated software usage, as well as SaaS usage visualization and real-time asset tracking through a master data management system.
Global Expansion and Future Plans
With its headquarters in Japan, Josys has expanded its business globally and currently operates in the United States, Singapore, India, the Philippines, Indonesia, Malaysia, Vietnam, Thailand, and South Korea. The company has ambitions to extend its services to over 100 countries by 2025. Josys intends to use the recent funding to double its product and engineering team workforce and enhance its distribution channels to deliver services more effectively. The company has plans to grow its workforce from approximately 120 employees to around 240 staff by the end of this year.
