Emergent Raises $130 Million Series C at $1.5 Billion Valuation

Emergent raised $130 million in a Series C funding round at a $1.5 billion post-money valuation, TechCrunch reported. The round marks a five-fold increase in valuation over six months and brings the company's total funding to $230 million. Creaegis led the round.

New investors MNI Ventures-Claypond and Sentinel Global joined existing backers Khosla Ventures, SoftBank’s Vision Fund 2, Lightspeed, and Y Combinator. The company had raised a $70 million Series B at a $300 million valuation in January. Mukund Jha, co-founder and chief executive, said the startup has reached a $120 million annualized revenue run rate, up 70 percent in the last four months, and has more than 200,000 paying customers.

North American and European customers each account for about one-third of revenue, while India contributes 8 to 9 percent. Mukund Jha and his brother Madhav Jha, who serves as chief technology officer, founded Emergent in June of the previous year. The company targets entrepreneurs and small and medium-sized businesses with a platform that handles deployment, hosting, testing, and debugging.

Emergent has about 200 employees, most based in Bengaluru with a handful in San Francisco. It plans to add 30 to 40 people to the San Francisco office by the end of the year. The new capital will support product development, research on AI agent workflows, and expansion of go-to-market operations, including a possible Europe office.