American startup Ema has completed a Series B round of $77 million, increasing the total capital raised to $140 million. The round was led by Indian firm Creaegis, with existing investors Accel, Section 32, and Prosus also increasing their participation. According to the company, the new funding consists entirely of primary equity capital, without any debt or secondary transactions. Ema was founded in 2023 by former Google and Coinbase executive Surojit Chatterjee and former Okta executive Suvik Sen. The company is developing a system of so-called AI employees that coordinates the work of several specialized agents and connects them with corporate applications. This approach is designed not for executing a single isolated command but for completing an entire chain of operations in HR, finance, IT, and other departments. According to Ema's vision, the system initially complements the existing set of programs and can later reduce dependence on certain SaaS products in specific processes.
The startup focuses on orchestration and integration rather than developing its own universal model. According to the co-founder, the platform can utilize more than 150 different models, including commercial and open-source solutions. Meanwhile, Ema is focused on subject logic, connecting corporate systems, and sequential execution of multi-step processes. Currently, the company reports over 50 active corporate deals and more than 1 million users, with the total number of processed actions and requests exceeding 5 million. Clients include NTT DATA, Hitachi, ADP, PwC, Google, KPMG, Wipro, and Microsoft. Over two years, Ema claims that revenue has grown 50 times, and the order volume has exceeded $150 million. This amount reflects the value of multi-year contracts rather than annual recurring revenue. More than 90% of clients, according to the company, have expanded their use of the platform after initial implementation, with a revenue retention rate of about 180%.
Ema also views AI as a tool for automating some of the tasks traditionally performed by corporate software providers and IT consultants. The company claims that its systems can learn from the results of previous implementations, reducing the need for manual intervention over time. The gross margin, according to management, remains around 80%. The payment model differs from traditional subscription licenses or pricing based on the number of AI tokens: the cost is tied to completed tasks and achieved results. Ema plans to allocate the new capital primarily to sales and marketing, as previous development stages focused on product creation.
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