Key facts
- Ema has raised $77 million in a Series B funding round.
- The funding round was led by venture firm Creaegis.
- Ema's total funding now stands at $140 million.
- The startup deploys "AI employees" that coordinate multiple AI agents to automate business processes.
- Ema has over 50 active enterprise deals and more than 1 million active enterprise users.
- Ema's net dollar retention rate is around 180%.
Ema, a startup that utilizes teams of AI agents to automate corporate processes across human resources, information technology, and finance, has secured $77 million in a Series B funding round. The investment, led by Bengaluru-based venture firm Creaegis with participation from existing investors Accel, Section 32, and Prosus, brings Ema's total funding to $140 million and significantly increases its valuation.
The funding comes at a time when artificial intelligence is increasingly competing for enterprise software and IT services spending. Ema's technology, referred to as "AI employees," coordinates multiple AI agents to execute multi-step business processes within a company's existing applications, aiming to reduce reliance on traditional software-as-a-service (SaaS) products.
Co-founder Surojit Chatterjee believes that Ema's approach can eventually lead companies to replace some of their existing SaaS applications, which he described as becoming "mostly like a database." He also noted that progress in frontier AI models is beneficial to Ema's strategy, as the startup can leverage over 150 models, including open-source options, while focusing on domain knowledge, integrations, and orchestration for end-to-end process automation.
Ema reports having over 50 active enterprise deals and more than 1 million active enterprise users, with over 5 million actions and queries handled. Its customer base includes NTT DATA, Hitachi, ADP, PwC, Google, KPMG, Wipro, and Microsoft. The company has experienced substantial revenue growth, with bookings surpassing $150 million, and a net dollar retention rate of approximately 180%, indicating significant expansion of services to existing clients.
Beyond software, Ema's AI is also positioned to take over implementation, integration, and consulting work traditionally performed by IT services firms. The startup maintains gross margins of nearly 80%, attributed to its AI systems' ability to learn and require less human support over time. Ema's pricing model is based on task completion and business outcomes rather than software seats or AI token consumption.
The new capital will primarily fuel Ema's go-to-market operations, including sales and marketing. The company, headquartered in Mountain View with offices in Bengaluru, London, and Vancouver, plans to expand into new markets in Asia-Pacific, South America, and the Middle East within the next year.