LayerX uses AI to cut enterprise back-office workload, scores $100M in Series B | TechCrunch

"Aging demographics, labor shortages, the adoption of GenAI, and the 2023 implementation of e-invoicing are driving companies to automate finance, tax, procurement, and HR in Japan. Yet only 16% of digital transformations succeed, and that's only 4-11% in traditional industries. The main barriers? Weak leadership commitment, a rigid culture, and a lack of digital talent. LayerX offers an AI SaaS platform to help enterprises scale back-office automation."

"LayerX, a Japanese AI SaaS startup that enables businesses to cut back-office workload, has raised $100 million in a Series B round led by Technology Cross Ventures (TCV), marking the U.S. fund's first investment in a Japanese startup. The company declined to disclose its valuation, but said both the valuation and the size of the round are among the largest ever raised by a seven-year-old Japanese startup at the Series B stage."

"Other investors, including MUFG Bank, Mitsubishi UFJ Innovation Partners, JAFCO Group, Keyrock Capital, Coreline Venture, and JP Investment, also joined the Series B round, bringing the total raised to $192.2 million. The startup's key offerings include Bakuraku, a platform that automates corporate spending workflows, covering expense management, invoice processing, and corporate card operations - for more than 15,000 companies; Alterna, a retail digital securities investment platform developed in partnership with Mitsui & Co.; and Ai Workforce, a generative AI solution designed to streamline workflows"

Aging demographics, labor shortages, generative AI adoption, and the 2023 rollout of e-invoicing are accelerating automation of finance, tax, procurement, and HR across Japanese enterprises. Digital transformation success rates remain low—around 16% overall and 4–11% in traditional sectors—due to weak leadership commitment, rigid corporate culture, and a shortage of digital talent. LayerX provides an AI SaaS platform aimed at reducing back-office workload and scaling automation. The company raised $100 million in a Series B led by Technology Cross Ventures, with participation from major Japanese financial and venture investors, bringing total funding to $192.2 million. Key products include Bakuraku, Alterna, and Ai Workforce.

Read at TechCrunch