A Saas management platform Josys secures $93 M
Josys, a company that provides a software platform for managing IT software applications in corporations, has secured a Series B funding round worth $93 million. Global Brain, an existing investor, and Globis Capital Partners, a new investor, led the funding round.
Josys, a platform for small- to medium-sized enterprises, has recently secured $125 million in funding, bringing their total raised to $125 million. This funding comes just a year after their $32 million Series A in September of last year. Josys was spun off from its parent company, Raksul, in 2021. The platform has more than tripled its customer base, with 300 companies using the service, up from 90 in August 2022. According to Yasukane Matsumoto, CEO of Josys, the platform generates revenue through a net revenue retention (NRR) rate of over 140%. It has achieved profitability with a customer acquisition cost payback period of under one year.
Josys offers a SaaS management platform and IT outsourcing services that oversee the entire life cycle of IT devices, from purchasing and configuring to shipping, repairing, and storing laptops and mobile devices. This solution is beneficial for companies with a global presence.
Since securing its Series A funding last year, this platform has expanded its capabilities to include Shadow IT detection, allowing users to identify unregulated software usage. Additionally, a master data management system provides real-time tracking and visualization of SaaS usage and assets.
The company based in Japan has expanded its operations globally and is now conducting business in several countries across Asia and the United States. These countries include India, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Thailand, and Vietnam. Josys has expressed its goal of providing services in more than 100 countries by 2025.
Josys has recently acquired capital to expand its workforce and distribution channels. The company plans to double its product and engineering team to increase the availability of its services. Josys has around 120 employees, aiming to double its staff to about 240 by the end of the year.
Companies worldwide face challenges in adapting their operations in the face of technological and societal changes that have transformed the landscape of work, according to a statement by Matsumoto. The company’s mission is to create a “Better Systems, Better World” by reimagining traditional IT operations for the hybrid work era and providing a next-generation LifecycleOps platform for managing applications and devices that are efficient and secure for businesses of all sizes.