LayerX Secures $100M in Groundbreaking AI Investment Round in Japan
Tokyo-based AI SaaS startup LayerX has successfully secured a whopping $100 million in Series B funding. The round was led by Technology Cross Ventures (TCV), marking a historic first for TCV as it’s their initial investment in a Japanese startup.
This significant funding round elevates LayerX’s total raised capital to an impressive $192.2 million, underscoring the escalating international investor interest in Japan’s burgeoning AI sector.
Established in 2018, LayerX has been at the forefront of developing AI-powered workflow automation platforms. These innovative platforms serve over 15,000 enterprise clients through its flagship products, Bakuraku and Ai Workforce.
The company’s cutting-edge solutions automate processes in key areas such as finance, HR, procurement, and tax management. This addresses critical business needs in Japan’s ongoing digital transformation.
Notably, the funding round witnessed participation from other major players including MUFG Bank, Mitsubishi UFJ Innovation Partners, and JAFCO Group.
LayerX is on a fast track of scaling operations. The company plans to nearly double its workforce to 430 employees by mid-2025. Moreover, it has set an ambitious target of achieving $680 million in annual recurring revenue by 2030.
Source: www.crescendo.ai/news/latest-ai-news-and-updates