Josys, Japan headquartered B2B platform, has raised $32 Million in a Series A investing round. The round was led by Global Brain Corporation, ANRI, Yamauchi-No.10 Family Office, Office Holdings, World Innovation Lab, and other venture capital firms.
The company, which spun off from its parent company Raksul last year, launched its automated management IT devices and SaaS application in September 2021 to reduce IT operations costs and enhance security systems.
Josys claims that it sets itself apart from other management platforms like BetterCloud and Okta by empowering its users by providing multiple professional services, including device procurement, business outsourcing (kitting services), and storage, along with SaaS management.
The latest funding round will see Josys speed up its overseas expansion to Singapore, India, Australia, New Zealand, United Kingdom, Germany, Netherlands, United States, and Canada. The company predicts that it will have its first launch in Singapore in early 2023. Additionally, the firm would use the fresh funding to strengthen its R&D base in India and sales team in Japan and accelerate corporations’ digital transformation.
General partner at Global Brain Keisuke Tatsuoka said, “Over the past five years, the environment surrounding Corporate IT has changed dramatically, with the ever-increasing number of SaaS to manage in addition to the management of devices and remote work.”
He continues to add that “Josys simplifies the maintenance and management of IT infrastructure and allow us to focus on business operations, and will become an indispensable service for our businesses.”
General partner and co-founder of WiL Ventures Masataka Matsumoto stated, “Corporate IT is undergoing a major transition due to the digital transformation and changing ways of working post-coronavirus.” He continued by saying that “the importance of security management and the limitations of in-house production of corporate IT are some of the issues the company is trying to address globally to solve these challenges.”
Josys claims its monthly recurring revenue (MRR) has increased 29x in nine months from Q1 to Q4 in 2022. Its clients span large enterprises to small companies, including Japanese cosmetic company iStyle.