SaaS Platform Josys raises $93 million in Series B funding to automate corporate IT software application management

The Japanese company has expanded globally and plans to operate in over 100 nations by 2025.

SaaS platform provider Josys has raised $93m in Series B funding, led by Global Brain and Globis Capital Partners. The funding takes the start-up's total backing to $125m, following its $32m Series A round in September 2021. Founded as a spin-off from parent firm Raksul in 2021, Josys services 300 small- to medium-sized enterprises, having tripled from 90 customers in August 2022. The lifecycle administration platform provider doubles as an IT outsourcing service, handling device procurement, configuration, shipping, repairs and storage for laptops and mobiles. Its software can be used for discovering unregulated shadow IT and to track SaaS usage in real time.

The Japanese company has expanded globally and plans to operate in over 100 nations by 2025. It will use the latest capital to double staff numbers, specifically product and engineering personnel, and increase distribution channels. CEO Yasukane Matsumoto said the firm aimed to "reimagine the traditional IT operations playbook for the hybrid work era". In addition to its expansion plans, Josys has achieved profitability and a net revenue retention rate that exceeds 140%. The company's growth comes as businesses try to adapt to a hybrid working model, and its platform offers to help companies establish efficient and secure practices for managing their applications and devices.