Funding Round and Investors

LayerX, a Japanese AI SaaS company, announced a $100 million Series B financing round led by Technology Cross Ventures (TCV). This investment represents TCV’s inaugural stake in a Japanese startup. Additional participants included MUFG Bank, Mitsubishi UFJ Innovation Partners, JAFCO Group, Keyrock Capital, Coreline Venture and JP Investment. The round brings LayerX’s total capital raised to $192.2 million.

Company Overview and Products

Founded in 2018 by serial entrepreneur Yoshinori Fukushima, LayerX offers an AI‑native platform that automates back‑office workflows. Its flagship solution, Bakuraku, handles expense management, invoice processing, corporate‑card operations, e‑ledger compliance and more for over 15,000 enterprises. The company also runs Alterna, a retail digital securities investment platform developed with Mitsui & Co., and Ai Workforce, a generative‑AI tool designed to streamline enterprise workflows.

Growth and Market Position

LayerX has rapidly expanded its customer base, surpassing 10,000 clients in early 2024 and reaching 15,000 by April 2025. Headcount grew from roughly 220 employees in late 2023 to about 430 by mid‑2025. The firm competes domestically with Money Forward Cloud Keihi, freee and Rakuraku Seisan, while its global rivals include SAP Concur, Rippling, Brex, Ramp, Spendesk and Airbase. In the AI‑agent space, competitors such as Harvey are noted.

Strategic Partnerships and Clients

Strategic relationships with MUFG and Mitsubishi UFJ Financial Group have supported LayerX’s expansion. Notable customers using Bakuraku include Ippudo, IRIS Ohyama, the Imperial Hotel and Sekisui Chemical, while Ai Workforce counts Mitsui & Co. and MUFG Bank among its users.

Future Outlook

Fukushima envisions LayerX achieving $680 million in annual recurring revenue by fiscal 2030, with roughly half derived from its AI‑agent business. The company plans to increase its workforce to around 1,000 employees by 2028 and aims to outpace domestic SaaS growth benchmarks, targeting rapid scaling of its AI‑driven automation suite.

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