LayerX secures $1bn funding to accelerate AI initiatives

Japanese AI startup LayerX has announced the completion of its Series B funding round, raising Y150bn ($1.01bn) to boost its operations.

The round was led by TCV, with participation from Mitsubishi UFJ Bank and Mitsubishi UFJ Innovation Partners, plus Coreline Ventures, JAFCO Group, Keyrock Capital Management, and JP Investment.

The company plans to use the capital to recruit engineers and other skilled professionals, as well as enhance sales operations.

In addition, the funds will be used to establish a competitive compensation structure that supports AI-centric work environments, and improve operational efficiency through AI integration, the company said.

TCV general partner Michael Kalfayan said: “LayerX is transforming how enterprises manage financial operations in Japan.

“Their AI-native platform not only drastically reduces manual overhead, but also delivers remarkable transparency, speed, and compliance for finance teams.”

LayerX's mission is to "digitise all economic activities".

The firm focuses on developing a range of complex business solutions, including AI SaaS, Fintech, and AI/LLM technologies. One of its key offerings, the AI SaaS "Bakuraku," is a cloud service designed to streamline back-office operations for businesses.

It is said to facilitate processes such as approvals, expense settlements, invoice management, and corporate card transactions through AI-driven automation.

This service has been adopted by approximately 15,000 companies, spanning from startups to large enterprises, said LayerX. It is set to expand into the human resources sector with attendance management services in 2024.

In the fintech arena, LayerX, in collaboration with Mitsui & Co. Digital Asset Management, provides "Altana," an asset management service for individuals that incorporates digital securities.

The company has launched 17 digital securities funds, with total investments in "Altana" surpassing Y2.5bn.

In the AI and LLM sector, LayerX is advancing its AI-generated AI platform "Ai Workforce," with implementations in major corporations such as Mitsui & Co. and Mitsubishi UFJ Bank.

Under its updated action guideline "Bet AI," which was revised in April, LayerX plans to accelerate the societal adoption of AI technologies.

"LayerX secures $1bn funding to accelerate AI initiatives" was originally created and published by Verdict, a GlobalData owned brand.

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