1. Funding for IT Software Automation: Josys, a startup specializing in software-as-a-service (SaaS) solutions for automating corporate IT software application management, has secured $93 million in a Series B funding round. This round was led by existing investor Global Brain and new investor Globis Capital Partners, bringing Josys’ total funding to $125 million.
2. Impressive Growth: Over the past year, Josys has experienced significant growth, with its customer base expanding from 90 to over 300 small- to medium-sized enterprises. The company’s net revenue retention (NRR) rate exceeds 140%, and it has achieved profitability with a customer acquisition cost payback period of less than one year.
3. Comprehensive IT Device Lifecycle Management: Josys offers a comprehensive platform and IT outsourcing services that manage the entire lifecycle of IT devices, including procurement, configuration, shipping, repairs, and storage of laptops and mobile devices. This service is particularly valuable for companies operating across multiple countries.
4. Global Expansion: Since its Series A funding round in 2022, Josys has expanded its presence globally, operating in the United States and various Asian countries, including Singapore, India, the Philippines, Indonesia, Malaysia, Vietnam, Thailand, and South Korea. The company aims to provide its services in over 100 countries by 2025.
5. Utilization of Funds: The recently raised capital will be used to double Josys’ product and engineering team, enhance its distribution channels, and further develop its services. The company plans to increase its workforce from approximately 120 employees to around 240 by the end of the year.
6. Addressing Modernization Challenges: Josys aims to address the challenges faced by organizations worldwide in modernizing their operations and adapting to the changing landscape of work. The company envisions a “Better Systems, Better World” and seeks to revolutionize traditional IT operations for the hybrid work era by delivering a next-generation LifecycleOps platform for efficient and secure application and device management.