The Pulse
Ema Raises $77M to Put AI Agents Against Enterprise Software
Ema has raised $77 million in a Series B led by Creaegis to expand AI agents across corporate HR, IT and finance workflows. The Mountain View startup says its total funding has reached $140 million as it prepares to enter markets across Asi
AI.info Team ·
“Many of our customers are already on the way to replace [large SaaS applications] completely, removing dependency on them, because they are mostly becoming like a database,” Ema co-founder and CEO Surojit Chatterjee told TechCrunch.
His claim frames the bet behind Ema’s $77 million Series B, announced September 23, 2026. The Mountain View startup sells teams of AI agents that carry out multi-step work across HR, IT and finance systems, and now plans to use the financing to expand its sales operation and enter new international markets.
Bengaluru-based venture firm Creaegis led the round. Existing investors Accel, Section 32 and Prosus increased their stakes. Ema said the financing was entirely primary equity, with no debt or secondary transactions, taking its total funding to $140 million.
Creaegis Backs Ema’s “AI Employee” Model
Ema was founded in 2023 by Chatterjee, a former Google and Coinbase executive, and Souvik Sen, a former Okta executive. Its product, which Ema calls an “AI employee,” coordinates multiple agents instead of handling one isolated task at a time.
The system works across a company’s existing applications. Ema positions itself as an orchestration layer that can draw on more than 150 frontier and open-source models while supplying the integrations, domain knowledge and process control needed to complete business workflows from start to finish.
That approach places Ema between the large software systems companies already buy and the AI model providers competing to supply the underlying intelligence. Chatterjee told TechCrunch that Ema initially wraps around existing applications, but he expects some customers eventually to reduce their dependence on those products or replace them.
More Than 50 Enterprise Deals, One Million Users
Ema says it has more than 50 active enterprise deals, over 1 million active enterprise users and 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 also reports that revenue has grown 50-fold over the past two years and that revenue bookings have passed $150 million. Chatterjee clarified that the bookings figure represents the total value of multiyear contracts, including two- and three-year agreements, rather than annual recurring revenue. He declined to disclose Ema’s current annualized revenue run rate.
More than 90% of Ema’s customers have expanded beyond their initial use case, according to the company. Chatterjee said some customers now deploy Ema across dozens of workflows, while net dollar retention stands at about 180%, indicating that existing customers are spending more over time.
Ema Targets Software Seats and Services Work
Ema’s pitch extends beyond replacing individual software tasks. The company is also targeting implementation, integration and consulting work traditionally performed by IT services providers around enterprise applications.
“A lot of the services companies are working with us,” Chatterjee said. “They are also dramatically changing or disrupting their own business models because they understand the human-forward model may not be the best model going forward.”
Ema says it has maintained gross margins close to 80%. The company does not charge by software seat or AI-token consumption; instead, Chatterjee said pricing is tied to completed tasks and business outcomes. That model shifts the commercial question from how many employees use a system to how much work the system completes.
Frontier Model Progress Is Part of Ema’s Plan
Anthropic and OpenAI are also pushing further into enterprise work. Anthropic has expanded efforts to bring Claude into financial and legal operations, while OpenAI has built teams of forward-deployed engineers to help customers put AI systems into production.
Chatterjee does not view those companies as direct competitors. Ema can use more than 150 models, he said, allowing the startup to focus on workflow integrations and business-process execution rather than developing a single general-purpose model.
“Progress in frontier models is actually very beneficial to us,” Chatterjee stated.
Sales Expansion Comes Before Geographic Reach
Ema spent its first two years concentrating primarily on product development. Much of the new capital will now go toward sales and marketing, as the company seeks to turn early enterprise deployments into a larger commercial operation.
The startup has nearly 200 employees and offices in Bengaluru, London and Vancouver. Its customer base has so far been concentrated in the United States and Europe, but Ema plans to expand over the next year into Asia-Pacific, South America and parts of the Middle East.
The company’s immediate test is whether its agents can move from isolated deployments into the systems that govern daily corporate work. Ema’s new funding gives it $77 million to pursue that expansion, while its latest valuation remains undisclosed.