SINGAPORE and TOKYO, Sept. 6, 2023 /PRNewswire/ -- Josys, a leading Software-as-a-Service (SaaS) and Device Management Platform that helps companies reduce IT operation costs and enhance security systems, today announced it has raised $93 million in Series B funding. Global Brain and Globis Capital Partners led the latest infusion of capital, bringing its total funding to $125 million.
Amidst the shift to remote work, SaaS adoption brings cybersecurity risks, shadow IT issues, and device management challenges for businesses. Josys was founded in 2021 at the height of the Covid-19 pandemic to solve these issues. The solution it provides helps companies to automate and optimize the management of their software applications and devices. In September 2022, the company raised $32 million in its Series A round. Since then, Josys has grown explosively, winning over 300 customers and increasing revenues by tenfold.
"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," said Yasukane Matsumoto, CEO, Josys.
With this new round of funding, Josys plans to expand its product and engineering team and grow its operations in the United States, and the APAC region. Josys also plans to scale its go-to-market strategy, with a focus on building out its managed service provider network for increased territory coverage and expedited service delivery.
"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," added Mr. Matsumoto.
This expansion will allow Josys to also provide IT outsourcing services for device lifecycle management, covering purchasing, configuration, shipping, repairing, and storing laptops and mobiles, which will be particularly valuable for multinational organizations with global employees. By offering local sourcing and device support, Josys can dramatically reduce IT onboarding time for overseas employees from several weeks to just a few days.
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