The Japanese AI startup, LayerX, has recently announced the successful closure of its $100 million Series B funding round, led by the U.S.-based cross-border technology investment firm TCV. This significant influx of capital will accelerate LayerX's mission to further develop its enterprise back-office automation platform. Established in 2018, LayerX is dedicated to alleviating the back-office workload for enterprises through cutting-edge AI technology.

LayerX's flagship product, Bakuraku, already serves over 15,000 companies by offering automated expense process services, including expense management, invoice processing, and corporate card operations. With this new funding, the company anticipates achieving an annual recurring revenue of $68 million by fiscal year 2030. Furthermore, LayerX plans to expand its workforce to 1,000 employees by 2028, aiming to consolidate and grow its market share in the AI-driven back-office automation space.