Ema, a startup that uses teams of AI agents to automate company work, has raised $77 million in a Series B funding round. The company announced the deal on September 23, 2026.
The round was led by Bengaluru-based venture firm Creaegis. Existing investors Accel, Section 32, and Prosus also increased their stakes.
The new money brings Ema's total funding to $140 million. The company said its valuation has more than quadrupled since its last round in 2024, but it did not share the exact figure.
The round was made up entirely of primary equity. There was no debt and no secondary sale of shares, the company told TechCrunch.
What Ema Does
Ema was founded in 2023 by Surojit Chatterjee, a former Google and Coinbase executive, and Souvik Sen, a former Okta executive. Both founders are based in the Bay Area.
The company sells what it calls "AI employees." These are systems that coordinate several AI agents to carry out multi-step tasks in HR, IT, and finance.
The systems work across a company's existing apps instead of handling one task at a time. Chatterjee said Ema first "wraps" around those apps, and some customers later cut back on them or replace them.
"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," Chatterjee said.
Large AI firms have also moved into this market. Anthropic has expanded efforts to bring Claude into core business work, and OpenAI has built teams of engineers who work directly with customers.
Chatterjee said he does not see these labs as direct rivals. Ema's software can draw on more than 150 AI models, and he said progress in frontier models "is actually very beneficial to us."
Customers and Revenue Growth
Ema said it has more than 50 active enterprise deals and over 1 million active enterprise users. Its systems have handled more than 5 million actions and queries.
Customers include NTT DATA, Hitachi, ADP, PwC, Google, KPMG, Wipro, and Microsoft.
The company said revenue has grown 50-fold over the past two years. Revenue bookings have passed $150 million, a figure that includes the full value of multiyear contracts. Chatterjee declined to share the annual revenue run rate.
More than 90% of customers have expanded beyond their first use case, according to Chatterjee. He said the net dollar retention rate is about 180%.
Ema said its gross margins are close to 80%. It does not charge by software seats or AI tokens used, but by completed tasks and business outcomes.
Chatterjee said some IT services firms are working with Ema as they rethink their own business models.
Most of the new money will go toward sales and marketing. The Mountain View-based company has nearly 200 employees, with offices in Bengaluru, London, and Vancouver.
Ema has mainly served customers in the U.S. and Europe. Over the next year, it plans to expand into Asia-Pacific, South America, and parts of the Middle East.
