Japan’s enterprises are under pressure from aging demographics, labor shortages, and stricter compliance rules like the 2023 e-invoicing mandate. At the same time, companies are racing to adopt generative AI. Yet, only 16% of digital transformation projects succeed, and the rate is even lower just 4 -11% in traditional industries.
The reasons? Rigid corporate culture, weak leadership commitment, and a shortage of digital talent.
This is where LayerX steps in.
The $100M Series B Milestone
LayerX has secured a $100 million Series B round, led by U.S.-based TCV its first investment in a Japanese startup. Other investors include:
- MUFG Bank
- Mitsubishi UFJ Innovation Partners
- JAFCO Group
- Keyrock Capital
- Coreline Ventures
- JP Investment
The new funding brings LayerX’s total raised to $192.2 million. While the valuation wasn’t disclosed, the company said both the round size and valuation are among the largest ever for a Japanese startup at the Series B stage.
Inside LayerX’s Product Suite
LayerX delivers an AI SaaS platform designed to cut the workload of finance, tax, procurement, and HR teams. Its portfolio includes:
- Bakuraku: Automates corporate spending workflows, covering expense management, invoice processing, and corporate card operations. Already used by 15,000+ companies.
- Alterna: A digital securities investment platform built with Mitsui & Co.
- Ai Workforce: A generative AI solution that streamlines workflows and taps enterprise data.
The Founder’s Vision
LayerX was founded in 2018 by Yoshinori Fukushima, a University of Tokyo-trained machine learning researcher and serial entrepreneur. He previously launched Gunosy, a news app that later went public on the Tokyo Stock Exchange.
Fukushima shifted LayerX’s focus after identifying a bottleneck in Japanese enterprise workflows: paper-based invoice processing. This led to the creation of Bakuraku, an AI-native platform designed to replace manual, Excel-heavy processes.
Competition and Differentiation
In Japan, LayerX competes with Money Forward Cloud Keihi, freee, and Rakuraku Seisan. Globally, its rivals include SAP Concur, Rippling, Brex, Ramp, Spendesk, and Airbase. In AI-powered workflow automation, it also faces Harvey.
LayerX sets itself apart with:
- An AI-native user experience.
- Features like auto-entry and document splitting.
- Investments in AI agents and AI-enabled BPO.
- A strong technical team, including 12+ former CTOs and a Kaggle Grandmaster.
The Bakuraku Suite now covers everything from expense management and corporate cards to compliance, attendance, and receivables all in one platform.
Growth at Breakneck Speed
Since its Series A in November 2023, LayerX has posted rapid growth:
- Customer base grew from 10,000 in Feb 2024 to 15,000 by April 2025.
- Employee count nearly doubled from 220 (Oct 2023) to 430 (July 2025).
- On track to hit $68M (¥10B) ARR, achieving the T2D3 benchmark faster than any SaaS startup in Japan’s history.
The Road Ahead
Looking forward, LayerX has set bold targets:
- $680M (¥100B) ARR by FY2030, with half from its AI agent business.
- Growing its workforce to 1,000 employees by 2028.
Its client list already includes Mitsui & Co., MUFG Bank, Ippudo, IRIS Ohyama, Imperial Hotel, and Sekisui Chemical.
LayerX’s trajectory shows how AI-first platforms can finally crack Japan’s stubborn digital transformation challenges. With fresh funding, rapid adoption, and ambitious targets, LayerX is positioning itself not just as a back-office solution but as one of Japan’s next SaaS powerhouses.
Sources ( Techcrunch )
