LayerX uses AI to cut enterprise back-office workload, scores $100M in Series B | TechCrunch

Demographics of aginglabor shortage, adoption Genai and 2023 Implementation of E-power generation It is driving companies to automate financing, taxation, procurement and human resources in Japan. However Only 16% of the digital conversions were successful, In traditional industries, this is only 4-11%. The main obstacle? Weak leadership, a strict culture and a lack of digital talent. layerx An AI SaaS platform is provided to help enterprises expand backend automation.

layerxa Japanese AI SaaS startup that enables businesses to reduce back-office workload, raising $100 million in Series B led by Technology Cross-Visit Investment Corporation (TCV), the first U.S. fund investment in Japanese startups.

The company declined to disclose its valuation, but said the valuation and size were the largest valuation and size raised by a 7-year-old Japanese startup in the B series. Other investors including MUFG Bank, Mitsubishi UFJ Innovation Partners, JAFCO Group, Keyrock Capital, Coreline Venture and JP Investment have also joined the Series B, bringing the total raised to $192.2 million.

The startup’s main products include Bakuraku, a platform that automatically uses company spending workflows, covering expense management, invoice processing and company card operations for over 15,000 companies; with Mitsui & Co. Alterna, a collaboratively developed retail digital securities investment platform; and AI Workforce, a generated AI solution designed to simplify workflows and harness enterprise data.

Founded in 2018 by serial entrepreneur Yoshinori Fukushima, who studied machine learning at the University of Tokyo and previously launched News App Gunosy and later listed on the Tokyo Stock Exchange, Layerx stood out from one of his digital transformations (DX) and blockchain projects.

The founder launched Layerx: Paper-based invoice processing after identifying important bottlenecks in Japanese corporate workflows. This insight prompted the team to tell TechCrunch through its AI-powered platform Bakuraku Fukushima, adding that the platform’s AI-native user experience quickly gained traction, helping Layerx secure a relationship with Mufg or Mitsubishi UFJ Financial Group and the latest ways to raise funds.

Despite the digital wave, many Japanese companies still rely on paper and Excel to pay for reimbursement and invoice processing, the CEO continued. in the country, the startup competes with Money Forward Cloud Keihi, Free and Rakuraku Seisan. Globally, its competitors include SAP Concur, Rippling, Bret, Ramp, Spentesk and Airbase. Fukushima noted that in the field of AI labor, it faces competition from Harvey.

Bakuraku distinguishes itself through an AI-powered user experience. The company continues to upgrade automation capabilities such as “automatic input and document segmentation”, while also investing in AI agents and AI-ai-ai-ai-abable business processing outsourcing (BPO). Its team includes “more than 12 former CTOs and a Kaggle Master”. Bakuraku provides a comprehensive integrated platform covering “fee management, invoice processing, company cards, workflows, e-services, attendance and accounts receivable – all in one solution.”

The seven-year-old company said the startup ended its Series B funding less than two years after receiving Series A in November 2023. Its iconic platform, Bakuraku Suite, has seen significant growth.

“We passed 10,000 customers in February 2024 and reached 15,000 by April 2025, with more and more corporate customers joining,” the CEO said. “As of the end of July 2025, the approximately 220 employees increased to 430 by about October 2023.”

According to the company, Layerx is expected to reach $68 million, equivalent to 10 billion yen, faster than any SaaS company in Japanese history. “Growth benchmark is called T2D3 “It has been achieved ahead of schedule and we expect to surpass previous domestic records, which took eight years in less than five years,” Fukushima said.

AI workforce will be Mitsui & Co. and Mufg Bank calculates among its customers, while Bakuraku serves customers such as Ippudo, Iris Ohyama, The Imperial Hotel and Sekisui Chemical.

Looking ahead, the company’s annual recurring revenue is approximately US$680 million (100 billion yen) by fiscal 2030, and is expected to come from its AI agent business. It also plans to increase its workforce to about 1,000 employees by 2028.