Josys, a pioneering startup in the SaaS domain, has successfully secured a whopping $93 million in its Series B funding round. This significant financial boost is set to further propel the company’s mission to automate corporate IT software application management.
The Series B round witnessed participation from Global Brain, an existing supporter, and Globis Capital Partners, a new entrant in Josys’ investment journey. This recent influx of funds has elevated the company’s total capital to an impressive $125 million, marking a substantial leap from its $32 million Series A funding just a year prior.
Rapid Growth and Expansion
Originating as a spin-off from Raksul in 2021, Josys has experienced a meteoric rise in its clientele. The company boasts a threefold increase in its user base, growing from 90 customers in August 2022 to 300 small- to medium-sized enterprises currently. CEO Yasukane Matsumoto shared these insights with TechCrunch, also highlighting the company’s remarkable net revenue retention rate of over 140% and its achievement of profitability within a short span.
Josys stands out with its comprehensive SaaS management platform and IT outsourcing services. The platform oversees the entire IT device lifecycle, encompassing tasks like purchasing, configuration, shipping, repairing, and storage of tech devices. This holistic approach proves especially beneficial for multinational corporations. Moreover, post their Series A funding, Josys introduced groundbreaking features like Shadow IT discovery and SaaS usage visualization, further solidifying their market position.
Headquartered in Japan, Josys has expanded its horizons to various Asian countries and the U.S. The company has set an ambitious goal to extend its services to over 100 countries by 2025.
With the fresh capital in hand, Josys plans to double its workforce in product and engineering sectors and expand its distribution channels. As of August 2023, the company employed around 120 individuals, with plans to double this number by the end of the year.
A Vision for the Future
CEO Matsumoto encapsulated the company’s ethos in a statement, emphasizing the global challenges in modernizing operations. He stated, At Josys, our vision for ‘Better Systems, Better World’ drives us to reimagine the traditional IT operations playbook for the hybrid work era. The company is committed to offering a next-gen LifecycleOps platform, enabling businesses to efficiently and securely manage their applications and devices.
In conclusion, Josys is poised to redefine the SaaS management landscape with its innovative solutions, global expansion plans, and a clear vision for the future. The recent funding is a testament to the company’s potential and the faith investors have in its mission.
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