Ema raises $77M as AI starts eating into enterprise software and services

Ema has raised $77 million to push its pitch that AI can do more than answer prompts or draft emails. The startup builds “AI employees” — systems that coordinate multiple AI agents to run business processes across HR, IT, and finance. The bet is simple and aggressive: move deeper into the work that enterprise software and IT services have long sold by the hour, seat, or project.

The Series B was led by Bengaluru-based Creaegis, with Accel, Section 32, and Prosus all increasing their stakes. Ema said the round was entirely primary equity, with no debt or secondary sales. It brings total funding to $140 million and, the company says, more than quadruples the valuation from its 2024 round, though Ema wouldn’t disclose the new number.

That valuation jump lands in a market where AI is starting to contest old enterprise spending. Startups, big AI labs, and established software vendors are all chasing the same budgets now. Ema’s founders think their advantage is not just model quality but the glue around it: integrations, domain knowledge, and orchestration that let multiple models work together across existing enterprise apps. The company says it can use more than 150 models, including frontier and open source ones.

Chatterjee, who founded Ema in 2023 with ex-Okta executive Souvik Sen, says the product first sits on top of a customer’s existing software, then gradually reduces reliance on some of those tools. In some cases, he says, customers may replace large SaaS applications entirely. Ema is already claiming traction: more than 50 active enterprise deals, over 1 million active enterprise users, and more than 5 million actions and queries handled. Customers include NTT DATA, Hitachi, ADP, PwC, Google, KPMG, Wipro, and Microsoft.

The company’s numbers suggest the market is listening. Ema says revenue has grown 50-fold in the past two years, while bookings have passed $150 million. More than 90% of customers have expanded beyond their first use case, and the net dollar retention rate is around 180%. Chatterjee also says gross margins are close to 80%, helped by less human support as deployments mature. The new money will mostly fund sales and marketing, while Ema expands beyond the U.S. and Europe into Asia-Pacific, South America, and parts of the Middle East.