Emergent reaches unicorn status with $130M Series C, $120M ARR

Growth from $50M to $120M in ARR

The funding milestone caps a remarkable acceleration for the company. Emergent reported about $50 million in annualized recurring revenue as of January 2026, but the company now boasts a $120 million annualized revenue run rate. That velocity caught investor attention.

Going from $50 million ARR to $120 million in a matter of months is the kind of growth curve that makes VCs reach for their checkbooks with both hands.

Path to unicorn: Series A through Series C

Emergent's fundraising trajectory moved fast. The company raised a $23 million Series A in September 2025 led by Lightspeed, valuing it at roughly $100 million. It followed up with a $70 million Series B in January 2026 led by SoftBank Vision Fund 2 and Khosla Ventures, which valued the company at $300 million post-money.

The Series C represents a 3.3x jump from the Series B valuation. Emergent now has more than 200,000 paying customers and claims more than five million users across 190-plus countries. The conversion rate, roughly 4% of total users becoming paying customers, suggests both significant reach and a scalable monetization engine.

Market position and founders

The company is headquartered across the San Francisco Bay Area and Bengaluru. The Jha twins previously worked at Dunzo, the Indian quick-commerce platform. Emergent competes directly with several well-funded players in the AI-assisted development space, including Lovable, Cursor, and Replit.

Emergent roughly $600 in average annual revenue per paying customer, which underscores a high-volume, accessible pricing model. The company was founded in 2024, meaning it reached unicorn status in under two years from launch.