Ema raised $77 million in a Series B funding round led by Indian investment firm Creaegis, with participation from existing investors Accel, Section 32, and Prosus. The round brought the company’s total funding to $140 million and increased its valuation more than fourfold compared with its last round in 2024, though it did not disclose the new valuation.
Ema confirmed that the funding consisted entirely of new equity, with no debt or secondary share transactions. The company plans to use most of the capital to strengthen its go-to-market operations, particularly sales and marketing, after focusing its early years on product development.
A Platform That Coordinates AI Agents
Ema was founded in 2023 by Surojit Chatterjee, a former executive at Google and Coinbase, and Souvik Sen, a former executive at Okta. The company describes its systems as “AI employees,” software that coordinates multiple agents to carry out multistep operations across existing enterprise applications, rather than completing only a single task.
Chatterjee said the platform begins by operating on top of an enterprise’s existing applications, then may help customers reduce their reliance on some software-as-a-service products and even replace them in some cases. The company believes some of these products could become a backend data layer as operations execution shifts to AI systems.
Expansion and Usage Indicators
Ema has more than 50 active enterprise deals and more than one million active enterprise users. It also said it has processed more than 5 million actions and queries. Its customer list includes NTT DATA, Hitachi, ADP, PwC, Google, KPMG, Wipro, and Microsoft.
The company said its revenue grew 50-fold over the past two years and that its revenue bookings exceeded $150 million. However, this figure includes the total value of multiyear contracts, including two- or three-year contracts, rather than annual recurring revenue. Ema did not disclose its current annual revenue run rate.
According to Chatterjee, more than 90% of customers expanded their use of the platform beyond the initial use case, while its net dollar retention rate was approximately 180%. The company also said its gross margins are approaching 80% and that its pricing is based on task completion and business outcomes, not on the number of users or model-token consumption.
What Is Changing in Practice?
Ema positions itself in a different layer from model labs, saying its platform uses more than 150 open-source and commercial models while focusing on specialized knowledge, systems integration, and end-to-end process coordination. According to the company, this approach could compete with some of the spending traditionally directed toward enterprise software and IT services companies.
However, these figures and promises come primarily from the company, and contract bookings do not equal realized revenue. Ema also has not identified which software products have actually been replaced or the scale of the resulting savings. Therefore, the significance of the round remains clearer in funding the expansion of the agent model within enterprises than in proving that these systems have already broadly replaced enterprise software.
The company is headquartered in Mountain View and has offices in Bengaluru, London, and Vancouver, working primarily with customers in the United States and Europe. Over the next year, it plans to expand into Asia-Pacific, South America, and parts of the Middle East.