Tokyo-based artificial intelligence software company LayerX has raised $100 million in a Series B funding round led by U.S. investor Technology Cross Ventures (TCV).
The round, completed on September 1, 2025, marks TCV’s first investment in a Japanese startup and lifts LayerX’s total funding to $192.2 million.
Founded in August 2018 by Yoshinori Fukushima, a University of Tokyo graduate and former creator of the news app Gunosy, LayerX develops AI-powered tools designed to automate back-office work for enterprises.
The company’s main product, Bakuraku Suite, is used by more than 15,000 companies and offers automation for expense management, invoice processing, corporate cards, compliance, attendance, and receivables.
LayerX has also launched Alterna, a retail digital securities platform built with Mitsui & Co., and Ai Workforce, a generative AI system aimed at streamlining workflows for large enterprises.
Its clients include major firms such as MUFG Bank and Mitsui.
The company’s revenue is projected to reach ¥10 billion ($68 million) by the end of 2025, making it one of the fastest Japanese SaaS firms to hit that milestone.
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The customer base has grown from 10,000 in February 2024 to 15,000 by April 2025, while employee numbers have nearly doubled from 220 in late 2023 to about 430 in July 2025.
LayerX has set a long-term target of ¥100 billion ($680 million) in annual recurring revenue by fiscal 2030, with about half expected from its AI agent business.
The company plans to expand its workforce to around 1,000 employees by 2028.
The company’s growth has been supported by strategic ties, including MUFG Bank’s acquisition of a 5 percent stake through its innovation arm.
MUFG has partnered with LayerX since May 2024 to co-develop expense management systems and aims to cut 200,000 hours of annual back-office work using its tools.
LayerX competes with domestic rivals such as Money Forward, freee, and Rakuraku Seisan, as well as global players like SAP Concur, Rippling, Brex, and Ramp.
Industry analysts say the company has distinguished itself with an AI-native user interface and a team that includes over a dozen former CTOs and a Kaggle Grandmaster.
The company has declined to disclose its latest valuation, but both the Series B amount and the size of its customer base rank among the largest for a Japanese startup at this stage.