Ema has raised $77 million in Series B funding as the enterprise AI startup expands software that uses teams of AI agents to automate work across HR, IT and finance. The round brings its total funding to $140 million and values the company at more than four times its previous 2024 valuation, although Ema did not disclose the new figure.
Creaegis led the round, while existing investors Accel, Section 32 and Prosus increased their stakes. Ema told TechCrunch that the financing consisted entirely of primary equity, with no debt or secondary transactions.
Ema Expands Its AI Employee Model
Founded in 2023 by former Google and Coinbase executive Surojit Chatterjee and former Okta executive Souvik Sen, Ema develops what it calls “AI employees.” These systems coordinate multiple AI agents to complete multi-step business processes across applications that companies already use.
In its Series B announcement, Ema said its technology now supports more than 1 million enterprise users and has completed more than 5 million actions and queries. Its customers include NTT DATA, Hitachi, ADP, PwC, Google, KPMG, Wipro and Microsoft.
Ema can use more than 150 frontier and open-source models while handling the integrations and domain-specific workflows needed to automate business processes. Chatterjee said improvements from major AI model developers benefit Ema rather than directly competing with its products.
The startup says revenue has increased 50-fold over the past two years, while revenue bookings have passed $150 million. That bookings figure includes the total value of multiyear agreements, including two- and three-year contracts, rather than annual recurring revenue.
More than 90% of customers have expanded beyond their original use case, according to Chatterjee. Ema’s net dollar retention rate is around 180%, meaning existing customers are spending substantially more with the company over time.
New Funding Will Support International Expansion
Ema is also targeting work traditionally performed by IT services companies, including software implementation, integration and consulting. Chatterjee said the company maintains gross margins close to 80% as its systems require less human support over time.
Rather than charging customers by software seats or AI token usage, Ema ties pricing to completed tasks and business outcomes. The company says this model allows customers to pay according to the work its systems perform.
Much of the new capital will fund sales and marketing after Ema spent its first years concentrating mainly on product development. The Mountain View-based company now has nearly 200 employees, with additional offices in Bengaluru, London and Vancouver.
Ema has primarily served customers in the U.S. and Europe so far. Over the next year, it plans to expand further across Asia-Pacific, South America and parts of the Middle East.
Featured image credits: Magnific.com
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