LayerX Funding History & Investors
LayerX has raised $206M across 4 funding rounds, most recently a $101M Series B in September 2025.
Last LayerX funding round
$101M
Series B · Sep 2025
Cumulative funding LayerX raised
$206M
across 4 funding rounds
Key investors in LayerX
Jafco Group
ANRI
Keyrock Capital Management
Mitsubishi UFJ Capital
TCV
YJ Capital
Mitsui & Co
Dawn Capital
About LayerX
LayerX is a financial-management software company founded in 2018 and based in Japan. Guided by a mission to “digitize all economic activities,” this startup helps streamline and automate corporate expense management, payments, and related processes. In addition to developing BACLAC, an easy-to-use corporate expense management service that covers invoice processing, expense reimbursement, approval applications, and corporate cards, the company is also collaborating with Mitsui & Co. on the development of a FinTech business that leverages digital technology. The company serves business and institutional customers through products and services in the financial-management software market. Its commercial model is built primarily on recurring software subscriptions and contracted services, reflecting the way customers obtain and use its offering. JIC Venture Growth Investments classifies the business in its Middle to Growth portfolio and records June 2023 for the company. The company maintains its operating website at layerx.co.jp, while JIC VGI's portfolio materials preserve the public record of the investment relationship.
Founded
2018
HQ
TokyoWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
LayerX Funding History
LayerX has raised a total of $206M across 4 funding rounds.
LayerX's first fundraising round was a $28M undisclosed-stage round in May 2020. The most recent completed round was a $101M Series B in September 2025.
LayerX funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Sep 2025 | Series B | TCV (lead); MUFG Innovation Partners; Jafco Group; Coreline Ventures; Japan Post Investment; Keyrock Capital Management; MUFG Bank | $101M | LayerX is a Tokyo-based AI SaaS startup founded in 2018 by Yoshinori Fukushima, specializing in automating enterprise back-office workflows like finance, tax, procurement, and HR through its Bakuraku Suite platform. The company targets Japan's paper-heavy corporate environment, where digital transformations often fail, serving over 15,000 customers including Imperial Hotel, Sekisui Chemical, Ippudo, and IRIS Ohyama as of April 2025, up from 10,000 in February 2024. Headcount grew from 220 in October 2023 to 430 by July 2025. On September 1, 2025, LayerX raised $100 million in a Series B round led by TCV—its first Japanese investment—with participation from MUFG Bank, MUFG Innovation Partners, JAFCO Group, Keyrock Capital, Coreline Ventures, and Japan Post Investment, bringing total funding to $192.2 million. The valuation was not disclosed, but sources note it ranks among the largest for a seven-year-old Japanese startup at this stage, following a Series A in November 2023. Funds will scale operations, product development, market expansion, and AI capabilities. LayerX reported being on track to hit $68 million in revenue (¥10 billion) faster than any Japanese SaaS company, achieving the T2D3 growth benchmark in under five years from launch, beating the prior eight-year record. It aims for $680 million ARR by 2030, with half from AI agent business, amid a market growing at 16.97% CAGR through 2033. Competitors include Money Forward Cloud Keihi, freee domestically, and SAP Concur, Rippling globally; partnerships with MUFG Bank and Google Chrome Enterprise bolster its position. |
| Jun 2023 | Undisclosed stage | JIC | - | On June 13, 2023, JIC announced an equity investment in LayerX through JIC Venture Growth Fund No. 2. The investing entity was JIC Venture Growth Investments, the JIC group manager responsible for direct venture, growth and listed-startup transactions, so the investment is attributed to the JIC investment house. Guided by a mission to “digitize all economic activities,” this startup helps streamline and automate corporate expense management, payments, and related processes. In addition to developing BACLAC, an easy-to-use corporate expense management service that covers invoice processing, expense reimbursement, approval applications, and corporate cards, the company is also collaborating with Mitsui & Co. on the development of a FinTech business that leverages digital technology. JIC VGI described the policy and investment rationale as an effort to expand digital financial infrastructure, improve access to capital or investment products and strengthen Japan’s fintech ecosystem. The transaction established JIC's direct investment relationship with the company and placed it within JIC VGI's Middle to Growth portfolio. JIC VGI said its capital and operating support would help LayerX advance product development, commercialization, hiring, partnerships or market expansion in line with the company-specific plans described in the announcement. The official announcement identifies a share acquisition or subscription by the JIC-managed vehicle, giving the fund an equity position tied to the company's stated development and commercialization plan. |
| Feb 2023 | Series A | ANRI; DIMENSION; Mitsubishi Estate; JIC Venture Growth Investments; Jafco Group; First Light Capital; Mitsubishi UFJ Capital; Keyrock Capital Management; GMO VenturePartners; All Star SAAS Fund; Dawn Capital; Mitsui & Co | $77M | - |
| May 2020 | Undisclosed stage | ANRI; Jafco Group; YJ Capital | $28M | LayerX is a Tokyo-based AI SaaS startup founded in 2018 that provides back-office automation solutions for enterprises. The company's flagship product, Bakuraku, automates corporate expense management, invoice processing, and corporate card operations. In May 2020, LayerX raised $27.8 million in seed funding led by JAFCO, with participation from ANRI and YJ Capital. The company has since grown significantly, serving more than 15,000 companies with its Bakuraku Suite and launching additional products including AI Workforce, a generative AI solution for enterprise data workflows, and Alterna, a retail digital securities platform developed with Mitsui & Co. LayerX went on to secure a Series A round in November 2023 and a $100 million Series B round in September 2025 led by TCV, bringing total funding to $192.2 million. |
Who has invested in LayerX?
19 investors have backed LayerX across its funding rounds, including Jafco Group, ANRI, Keyrock Capital Management, Mitsubishi UFJ Capital, TCV and YJ Capital.
Lead investors include TCV.
LayerX Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Tokyo | 3 | Participant | May 2020 | |
| Tokyo | 2 | Participant | May 2020 | |
 Hong Kong | 2 | Participant | Feb 2023 | |
| Tokyo | 1 | Participant | Feb 2023 | |
| Tokyo | 1 | Participant | Sep 2025 | |
| Japan | 1 | Participant | Feb 2023 | |
| Tokyo | 1 | Participant | Feb 2023 | |
 Seoul | 1 | Participant | Sep 2025 | |
| Tokyo | 1 | Participant | Jun 2023 | |
 San Francisco, CA | 1 | Lead | Sep 2025 | |
| Tokyo | 1 | Participant | Feb 2023 | |
| Tokyo | 1 | Participant | Sep 2025 | |
| Tokyo | 1 | Participant | Feb 2023 | |
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Start Free TrialCommon questions about LayerX
| When was LayerX founded? | LayerX was founded in 2018. |
| Where is LayerX headquartered? | LayerX is headquartered in Tokyo, Japan. |
| Is LayerX publicly listed? | No, LayerX is a private, VC-backed company. |
| How much funding has LayerX raised? | LayerX has raised $206M across 4 funding rounds. |
| What was LayerX's last funding round? | LayerX's last funding round was a $101M Series B in September 2025, led by TCV. |
| Who are LayerX's investors? | LayerX's investors include Jafco Group, ANRI, Keyrock Capital Management, DIMENSION, MUFG Innovation Partners, Mitsubishi Estate, JIC Venture Growth Investments, Coreline Ventures, JIC, TCV and 9 others. |
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