Tokyo – September 2, 2025: Japanese AI SaaS startup LayerX has raised $100 million in a Series B round, becoming one of the largest funding deals in Japan’s SaaS sector. The round was led by Technology Cross Ventures (TCV), the U.S. growth investor’s first-ever investment in a Japanese startup. Additional participation came from MUFG Bank, Mitsubishi UFJ Innovation Partners, JAFCO Group, Keyrock Capital, Coreline Venture, and JP Investment, bringing the company’s total capital raised to $192.2 million since its founding in 2018.
Addressing Japan’s Enterprise Bottleneck
Japan faces a perfect storm of challenges: an aging population, labor shortages, and slow digital transformation adoption. Even after the 2023 rollout of mandatory e-invoicing, most enterprises still depend on paper-based processes and Excel for reimbursements and invoice management. Studies show that only 16% of digital transformation initiatives succeed, with even lower rates of 4–11% in traditional industries.
Founded by Yoshinori Fukushima, who previously launched the news app Gunosy, LayerX pivoted from blockchain to SaaS after identifying inefficiencies in invoice processing. This led to the development of Bakuraku, its flagship platform designed to automate back-office workflows.
A Comprehensive AI Suite
Today, Bakuraku supports over 15,000 companies, including Ippudo, IRIS Ohyama, the Imperial Hotel, and Sekisui Chemical. The platform covers expense management, invoice handling, corporate cards, attendance, receivables, workflows, and compliance; all within one solution.
What differentiates Bakuraku is its AI-native user experience. It extends beyond simple automation with features like auto-entry, document segmentation, and AI-driven business process outsourcing (BPO). LayerX is also investing in AI agents to handle repetitive workflows. Its team includes over a dozen former CTOs and a Kaggle Grandmaster, underscoring its strong technical foundation.
LayerX also offers Ai Workforce, a generative AI solution that streamlines knowledge work and enterprise data usage, already adopted by clients such as Mitsui & Co. and MUFG Bank. Another product, Alterna, was co-developed with Mitsui & Co. as a digital securities investment platform.
Soaring Growth and Unmatched Momentum
Since closing its Series A in late 2023, LayerX has scaled rapidly. Its client base grew from 10,000 in early 2024 to 15,000 by April 2025. Employee headcount nearly doubled in under two years, from 220 in October 2023 to around 430 by July 2025.
The company is already on pace to reach $68 million (¥10 billion) in annual recurring revenue (ARR), the fastest trajectory in Japan’s SaaS history. CEO Fukushima confirmed that LayerX achieved its T2D3 growth target ahead of schedule and expects to surpass Japan’s SaaS growth record, which previously took eight years, in less than five.
Looking forward, LayerX aims to achieve $680 million (¥100 billion) in ARR by 2030, with half expected to come from its AI agent business. It also plans to expand its workforce to 1,000 employees by 2028.
Competing on a Global Stage
Domestically, LayerX competes with Money Forward Cloud Keihi, freee, and Rakuraku Seisan. Globally, its rivals include SAP Concur, Rippling, Brex, Ramp, Spendesk, and Airbase. In enterprise AI, its Ai Workforce product faces competition from solutions like Harvey.
Despite this, LayerX’s AI-first design, strong adoption among enterprises, and high-profile partnerships with MUFG give it a competitive advantage. Its new funding will be used to deepen R&D, enhance product offerings, and expand market share both in Japan and internationally.
Why This Matters
LayerX’s $100M Series B round reflects not just its success but also a broader shift in Japan’s enterprise software market. With digital transformation rates still low and back-office inefficiencies widespread, the demand for AI-powered enterprise solutions is accelerating. If LayerX maintains its trajectory, it could redefine automation in Japan and emerge as a serious global player in the AI SaaS market.
