Josys secures $32M Series A for its SaaS management platform
Corporations have been dealing with IT operations and security management since the coronavirus pandemic that has changed the way in which people work — remote or hybrid work — and accelerated the market opportunity. Josys, spun off from its parent company Raksul last year, launched its automated management IT devices and SaaS application in September 2021 that reduces IT operation costs and enhances security systems.
Josys, the Japanese B2B SaaS platform that streamlines and automates corporate IT operations, said today it has raised 4.4 billion yen (approximately $32 million) in a Series A round led by Global Brain, with participation from ANRI, Digital Holdings, Yamauchi No 10 family office and World Innovation Lab (WiL).
One of the things that sets Josys apart from other SaaS management platforms like BetterCloud and Okta is that it empowers users by providing multiple professional services, including device procurement, business process outsourcing (kitting services) and storage, along with SaaS management, the company says.
Josys claims its monthly recurring revenue (MRR) has increased 29x in nine months from Q1 to 4Q in 2022. Its clients span large enterprises to small companies, including Japanese cosmetic company iStyle.
“Over the past five years, the environment surrounding Corporate IT has changed dramatically, with the ever-increasing number of SaaS to manage in addition to the management of devices and remote work,” said general partner at Global Brain Keisuke Tatsuoka. “JOSYS simplifies the maintenance and management of IT infrastructure and allows us to focus on business operations, and will become an indispensable service for our businesses.”
The latest funding will help Josys speed up its overseas expansions, including Singapore, India, Australia, New Zealand, the U.K, Germany, Netherlands, the U.S. and Canada, aiming the first launch in Singapore in early 2023. Additionally, it intends to strengthen its R&D base in India and sales team in Japan. The company says it wants to accelerate corporations’ digital transformation.
“Corporate IT is undergoing a major transition due to the digital transformation and changing ways of working post-coronavirus [pandemic],” said general partner and co-founder of WiL Ventures Masataka Matsumoto. “The importance of security management and the limitations of in-house production of corporate IT are some of the issues that the company is trying to address globally to solve these challenges.”