SaaS management platform Josys secures $93 Million in funding

SaaS management platform Josys secures $93 Million in funding

Josys, a SaaS and Device Management Platform, raised approximately $93 million in Series B funding. This funding round was led by Global Brain and Globis Capital Partners. Its total funding is now approximately $125 million.

Josys aids companies in streamlining IT operations and improving security in the face of remote work challenges. Since its origin in 2021, the platform has progressed quickly, gaining approximately 300 customers and boosting revenues tenfold. The company has a SaaS platform for automating corporate IT software application management and has achieved profitability with a quick customer purchase cost payback duration. After its Series A round last year, Josys has launched many new features. These include Shadow IT discovery to highlight unregulated software usage and real-time asset tracking via a master data management system.

Based in Japan, Josys has increased its operations globally, serving users in the U.S. and several Asian countries, like Singapore, India, the Philippines, Indonesia, Malaysia, Vietnam, Thailand, and South Korea. Their aim is to expand their services to approximately 100 countries by 2025.

Yasukane Matsumoto, CEO, Josys said;

“In the wake of the pandemic, we are seeing increased complexities in IT operations across the globe as companies struggle to modernize their operations and catch up with the technological and human shifts that have transformed how and where work gets done. As businesses shifted to remote work and adopted numerous SaaS solutions, the challenge of maintaining the ‘single source of truth‘ for IT operations became daunting.”

Josys aims to use this recent funding to enhance its product and engineering teams, doubling its workforce. They also plan to improve their distribution channels for service delivery. Currently, they have approximately 120 employees across all locations, with an aim to reach approximately 240 staff by the end of this year.

Yasukane Matsumoto, CEO, Josys said in a statement;

“We have successfully forged strategic partnerships with key regional players and local entities and onboarded a wave of new customers in the APAC region. With the momentum of customer onboarding propelling us onward, this will further strengthen our position as an industry leader. We expect more announcements in Q4, 2023.”

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