Josys, SaaS management platform, raises $93M

Josys, a startup offering a SaaS (Software-as-a-Service) platform to automate the management of enterprise IT software applications, has raised a $93 million Series B funding round led by backer existing fund Global Brain and a new investor, Globis Capital Partners.

The latest funding, which brings the total raised to $125 million, comes about a year after the Series A round of $32 million in September last year.

Josys, spun off from its parent company, Raksul, in 2021, currently has 300 small and medium businesses using its platform, an increase of more than three times from 90 customers in August 2022, said Yasukane Matsumoto, CEO of Josys , at TechCrunch. . Additionally, the company generates revenue with a net revenue retention rate (NRR) of over 140% and has achieved profitability with a customer acquisition cost payback period of less than a year, said Matsumoto.

Josys provides the SaaS management platform and IT outsourcing services that manage the IT device lifecycle, including “purchasing, configuring, shipping, repairing, and storing laptops and mobile devices. which will be especially convenient for companies that operate in many countries. countries.

Since its Series A cycle last year, it has added features such as Shadow IT discovery, which allows users to uncover unregulated software usage, as well as SaaS usage visualization and tracking. assets in real time through a master data management system.

The Japan-based company has expanded globally and now does business in the United States and a number of Asian countries, including Singapore, India, Philippines, Indonesia, Malaysia, Vietnam , Thailand and South Korea. Josys says it aims to offer services in more than 100 countries by 2025.

Josys will use the recent capital to double the size of its product and engineering team and increase its distribution channels to deliver the services. As of August this year, the company had around 120 employees across all sites, with the goal of reaching around 240 people by the end of the year.

“Organizations around the world are struggling to modernize their operations and catch up with the technological and human backlog that has transformed the way and the place of work,” Matsumoto said in the statement. “At Josys, our ‘Better Systems, Better World’ vision drives us to reinvent the traditional IT operations manual for the age of hybrid working and deliver a next-generation LifecycleOps platform to help businesses of all sizes establish efficient and secure practices for managing their activities. apps and devices.