Emergent raises $130 million as AI coding startup hits $1.5 billion valuation

Emergent raised $130 million in a Series C round at a $1.5 billion post-money valuation, a five-fold increase from its $300 million mark six months earlier. The financing brought the San Francisco and Bengaluru-based company’s total funding to $230 million and was led by Creaegis, with MNI Ventures-Claypond and Sentinel Global as co-leads and Khosla Ventures, SoftBank Vision Fund 2, Lightspeed and Y Combinator also taking part.

Mukund Jha, the company’s co-founder and chief executive, said Emergent had reached a $120 million annualized revenue run rate and surpassed 200,000 paying customers. In February, the company had more than 6 million users across 190 countries, about 150,000 paying customers and more than 7 million applications created on the platform.

Emergent is trying to win share in a crowded AI coding market that already includes Lovable, Replit and Cursor, while OpenAI and Anthropic have pushed deeper into coding tools. Jha said the company’s thesis is to build a production-grade application for serious builders, “basically getting an engineering team in a box,” rather than a prototype tool. The customer base includes trucking companies using it for shipment-tracking software, factories building ERP systems on it, construction businesses creating internal tools, and property managers using it for customer management.

About a third of revenue comes from North America, another third from Europe and 8% to 9% from India, with the rest spread across other markets.

Emergent was founded in June 2025 by Mukund Jha and his brother Madhav Jha. Mukund Jha was previously co-founder and CTO of Dunzo, while Madhav Jha holds a PhD in theoretical computer science from Penn State University and helped start Amazon’s SageMaker research team. Emergent launched an iOS and Android app in February and has also begun testing an enterprise offering with a small number of customers as it pushes further into security, compliance and governance.