LayerX, a Japanese AI Software as a Service (SaaS) startup, is pioneering a new approach for enterprises to shift their back-office workloads. Yoshinori Fukushima, a serial entrepreneur with a machine learning background from the University of Tokyo, started LayerX in 2018. Since then, the company has quickly locked down an impressive foothold in the enterprise solutions market. The San Jose-based company this week released news that it had closed a $100 million Series B funding round to great fanfare. This round was led by Technology Cross Ventures (TCV) and is their first direct investment into a Japanese startup.
The creation of LayerX was born out of Fukushima’s advancement into the digital transformation space and blockchain projects. Working with large enterprises initially, the startup’s main drive is to fully automate corporate spending workflows starting with their flagship product Bakuraku. This platform includes core areas like spend management, invoice automation, and corporate card management. Remarkably, Bakuraku has already gained more than 15,000 companies, so it has proven its value bolstering efficiency and freeing up time on back-office overhead.
LayerX hasn’t given up zeroing in on Bakuraku. They are the ones behind Alterna, a retail digital securities investment platform developed in collaboration with Mitsui & Co. Another important solution in this suite is Ai Workforce, a generative AI solution built to optimize workflows and harness enterprise data. This suite of services addresses significant bottlenecks in Japan’s enterprise workflows, particularly the reliance on paper-based invoice processing, which Fukushima identified as a critical issue needing resolution.
LayerX’s rapid growth trajectory is remarkable. By the end of July 2025, that number had almost doubled to about 430. LayerX is on track to exceed $68 million in annual recurring revenue. This milestone would propel it to become the fastest-growing SaaS company in the history of Japan. The fledgling startup has ambitious targets. It aims for about $680 million (¥100 billion) in annual recurring revenue by fiscal year 2030.
For his part, Fukushima noted with pride the progress the company has made to date. He noted, “We passed 10,000 customers in February 2024 and reached 15,000 by April 2025, with more enterprise clients coming on board.” Such a rapid customer acquisition speaks to the overwhelming demand for LayerX’s innovative solutions.
LayerX intends to continue to grow its staff. In line with its growth strategy, the startup expects to increase its employee count to around 1,000 employees by 2028. The company has consistently completed major milestones under the original schedule as well. “The growth benchmark known as T2D3 was achieved ahead of schedule, and we expect to surpass the previous domestic record, which took eight years from product launch, in under five years,” said Fukushima.
LayerX’s products are deep and wide, covering every aspect of business management and enabling businesses to effortlessly manage their entire operations. According to Fukushima, they provide “expense management, invoice processing, corporate cards, workflows, e-ledger compliance, attendance, and receivables—all in one solution.” This extensive, all-in-one approach is paving the way for LayerX to become the #1 player in the Japanese SaaS market.
The new capital will accelerate LayerX’s innovation and development of cutting-edge industry products. Further, it will allow the company to reach further across the country of Japan and eventually, beyond. Companies of all shapes and sizes are always seeking smart, collaborative answers to manage increasing workloads and project intricacies. LayerX’s AI-driven approach is well-positioned to deliver significant value to address these needs.