Josys Raised $93 Million in Series B Funding to Fuel SaaS Management Platform Expansion

Josys Raised $93 Million in Series B Funding to Fuel SaaS Management Platform Expansion

Josys, a dynamic startup specializing in software-as-a-service (SaaS) platforms for streamlining corporate IT software application management, has successfully raised $93 million in a Series B funding round. This funding round was led by existing investor Global Brain and welcomed a new participant, Globis Capital Partners.

This latest investment round brings Josys’ total funding to an impressive $125 million, following a Series A round of $32 million in September of the previous year.

Josys, founded as a spin-off from its parent company, Raksul, in 2021, has experienced significant growth. The platform currently serves 300 small- to medium-sized enterprises (SMEs), reflecting a threefold increase from the 90 customers it had in August 2022. The company has established strong revenue generation, boasting a net revenue retention (NRR) rate exceeding 140%. Moreover, Josys has achieved profitability while maintaining a customer acquisition cost payback period of under one year.

Josys offers a comprehensive SaaS management platform along with IT outsourcing services that oversee the entire lifecycle of IT devices. This includes activities such as purchasing, configuration, shipping, repairing, and storage of laptops and mobile devices. This suite of services is particularly valuable for companies with operations spanning multiple countries.

Over the past year, Josys has expanded its platform by introducing new features such as Shadow IT discovery, which empowers users to identify unregulated software usage. Additionally, the platform offers SaaS usage visualization and real-time asset tracking through a master data management system.

While headquartered in Japan, Josys has achieved a global presence by extending its operations into the United States and several Asian countries, including Singapore, India, the Philippines, Indonesia, Malaysia, Vietnam, Thailand, and South Korea. The company aims to expand its services to more than 100 countries by 2025.

Josys plans to leverage the recent funding to double the size of its product and engineering teams, as well as enhance its distribution channels to deliver services more effectively. As of August of this year, the company employed around 120 individuals across all locations, with plans to reach approximately 240 staff members by year-end.

Yasukane Matsumoto, CEO of Josys, expressed the company’s mission in a statement: “Organizations across the globe are struggling to modernize their operations and catch up with the technological and human shifts that have transformed how and where work gets done. At Josys, our vision for ‘Better Systems, Better World’ drives us to reimagine the traditional IT operations playbook for the hybrid work era and deliver a next-generation LifecycleOps platform to help companies of all sizes establish efficient and secure practices for managing their applications and devices.”

© Copyright 2023 Techmub. All right reserve.

Discover more from Techmub

Subscribe now to keep reading and get access to the full archive.

Continue Reading