X Mile Raises ¥3.17 Billion Series C Led by Vertex Growth for Non-Desk Industry Digitalization
X Mile, a Japanese company focused on talent matching and digitalization for non-desk industries such as logistics, construction and manufacturing, has raised ¥3.17 billion in a Series C round led by Vertex Growth. The company said the round brings its cumulative funding to ¥6.96 billion.
- X Mile raised ¥3.17 billion in a Series C round led by Vertex Growth, bringing cumulative funding to ¥6.96 billion
- The company serves non-desk industries with 1.2 million registered job seekers and over 30,000 companies using its HR platform
- Annual recurring revenue is growing more than 90% year over year, with about 70% of large logistics operators with 1,000+ vehicles as customers
Who is investing
Vertex Growth led the round, with participation from ALPHA, SMBC Nikko Securities, SOMPO Growth Partners, University of Tokyo Edge Capital (UTEC), SMBC Venture Capital, Minerva Growth Partners, Japan Post Capital and JPS Growth Investment. The mix of corporate venture arms and university-affiliated funds reflects growing investor interest in vertical software for traditionally offline sectors.
Three business pillars
X Mile operates three business areas. Its HR platform provides talent matching services tailored to non-desk industries, with cumulative registered job seekers reaching 1.2 million and more than 30,000 workplaces onboarded. Its DX and AI platform develops and deploys industry-specific vertical AI, working with large corporate groups including NX Group, Seino Holdings, Japan Post Group and Sompo Japan to push digitalization and AI adoption. Its management support platform handles business succession and M&A advisory.
According to the company, annual recurring revenue is growing more than 90% year over year, and adoption among large logistics operators with 1,000 or more vehicles stands at more than 70%.
What the funds will be used for
The new capital will go toward enhancing existing products, hiring engineers, sales and customer success staff, accelerating investment in new areas such as vertical AI and FinTech, and advancing its M&A strategy. The company said it plans to use both equity and debt flexibly as it pursues business expansion.
Why Japan’s non-desk industries matter
Non-desk workers in logistics, construction and manufacturing make up a large share of Japan’s workforce, and these sectors are under growing pressure to digitalize amid structural labor shortages. X Mile’s focus on vertical platforms for these industries, rather than general-purpose HR software, is part of a broader push by Japanese startups to bring digital tools to sectors that have historically relied on manual processes.
Company background
X Mile was founded in 2019. In its previous Series B round, the company raised about ¥1.8 billion, bringing cumulative funding at that time to ¥2.68 billion. The company’s investor base now spans corporate venture arms, securities firms, insurers and a university-affiliated fund, reflecting broad institutional interest in the vertical software opportunity.
Source: The Bridge
Cover image generated by AI for illustrative purposes only.
