Saas Service Provider Josys Raises $32 Million in its Series B Round

Josys, a Software-as-a-Service (SaaS) and device management platform that helps businesses reduce IT operation costs and improve security systems announced a $93 million Series B funding round on Sept 5. Global Brain and Globis Capital Partners led the latest round of funding, bringing the company's total funding to $125 million, according to a statement.

Businesses face cybersecurity risks, shadow IT issues, and device management challenges as they shift to remote work. To address these issues, Josys was founded in 2021, at the height of the Covid-19 pandemic.

Its solution assists businesses in automating and optimizing the management of their software applications and devices. The company raised $32 million in its Series A round in September 2022. Josys has proliferated since then, gaining over 300 customers and tenfolding revenue.

"In the aftermath of the pandemic, we are witnessing increased complexities in IT operations around the world as businesses struggle to modernize their operations and catch up with the technological and human shifts that have transformed how and where work is done." "As businesses shifted to remote work and adopted numerous SaaS solutions, the challenge of maintaining a "single source of truth" for IT operations became daunting," said Yasukane Matsumoto, CEO of Josys.