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

Ema, a startup that uses teams of AI agents to automate corporate processes in HR, IT, and finance, has raised $77 million in funding, bringing its total funding to $140 million. The company is competing in a growing market where AI is beginning to take spending traditionally directed toward enterprise software and IT services. Ema's technology coordinates multiple AI agents to handle multi-step business processes across a company's existing applications, with the potential to eventually reduce or replace reliance on traditional software products. The startup has gained significant traction with over 50 active enterprise deals, over 1 million active enterprise users, revenue that has grown 50-fold over two years, and a net dollar retention rate of around 180 percent.