Emergent Raises $130 Million at $1.5 Billion Valuation

Emergent raised $130 million in a Series C funding round at a $1.5 billion post-money valuation. The round was led by private equity firm Creaegis, with MNI Ventures-Claypond and Sentinel Global as co-lead investors. Existing backers Khosla Ventures, SoftBank’s Vision Fund 2, Lightspeed, and Y Combinator also participated.

The financing brings Emergent’s total capital raised to $230 million. The company had previously closed a $70 million Series B round at a $300 million valuation in January. Emergent was founded in June 2025 by Mukund Jha and his brother Madhav Jha.

Mukund Jha, co-founder and chief executive, said the company has reached an annual run-rate revenue of $120 million, up 70 percent in the last four months. He added that Emergent now has more than 200,000 paying customers and that small and medium-sized businesses account for nearly 70 percent of revenue, up from around 20 percent at launch.

North American customers generate about a third of revenue and European customers another third, with India contributing 8 to 9 percent, Jha said.

More than 12 million applications have been built on the platform by users in 190 countries. Jha stated that around 10 percent of free users convert to paying customers. The company employs about 200 people, most based in Bengaluru, and plans to add 30 to 40 staff in its San Francisco office by the end of the year while considering an office in Europe.

Emergent intends to use the new capital to accelerate product development, improve application success rates, and expand go-to-market operations. Jha said the company is also working to support more complex applications that incorporate local and open-source models.