Josys, a Palo Alto, CA-based provider of a SaaS Management platform that simplifies how IT works, raised $100M in Venture Debt.
Backers were not disclosed.
The company intends to use the amount to expand operations and its business reach.
Josys provides a SaaS Management Platform for IT teams to get 360-degree control over their SaaS applications visualizing user access, analyzing utilization trends, and automating processes that will make IT operations run more efficiently.
The company is also announcing plans to make large-scale investments in product development in both its Silicon Valley and Bangalore office locations and expects to increase the speed of development tenfold over the next two years.
To ensure the successful implementation and deployment of SaaS Management best practices, Josys is opening a SaaS Operations Excellence Center to help customers fully realize the value of critical SaaS Management tasks such as shadow IT detection, security optimization, license rationalization, and employee lifecycle management. Its new 10,000 square foot Center is located in Kaihin-Makuhari, Chiba City, just outside of Tokyo and currently staffed by 30 SaaS operations analysts and technicians. With the aim of further developing and scaling its expertise to help customers strengthen their SaaS security posture and reduce IT overhead, the company plans to expand the team to 100 by the end of 2025.
Josys is also launching two new services this month to help customers improve the efficiency and effectiveness of their SaaS Management efforts.
The company is also announcing the general availability of its Multi-Tenant Portal, a SaaS Management module that allows centralized IT teams to manage the SaaS ecosystem and security posture of an entire group of companies. This solution is particularly useful for visualizing potentially weak security configurations of M&A targets and overseas subsidiaries, enabling real-time monitoring of shadow IT, privileged account status, and the detection of inactive employee accounts. With the Josys Multi-Tenant Portal, companies can respond swiftly to cross-company SaaS security risks and build a defense system that proactively identifies issues before they become problems.
FinSMEs
08/10/2024