Emergent raises USD $70m to fuel AI software surge

Emergent has raised USD $70 million in Series B funding from Khosla Ventures and SoftBank Vision Fund 2, taking its total funding to USD $100 million within seven months of launch.

The company said Prosus, Lightspeed, Together and Y Combinator also participated in the round. Emergent also cited recent backing from Google's AI Futures Fund.

Emergent markets itself as an AI software creation platform. It targets individuals and small businesses that want to create full-stack web and mobile applications.

The company said more than 5 million users are building and shipping products on the platform across more than 190 countries. It also said its annual recurring revenue rose from USD $100,000 to USD $50 million in seven months.

The announcement lands as Australian developers and businesses show growing interest in AI-assisted coding tools and new forms of software development. Universities, bootcamps and accelerators in Australia have started to incorporate AI-augmented programming approaches into training and curricula, according to industry participants.

Product focus

Emergent said its product uses autonomous AI agents that can design, build, test and scale software across the development lifecycle. The company described it as working like a development team.

The platform also includes billing integrations, including Stripe, according to the company. Emergent said this makes applications ready for paid use once they ship.

Emergent framed the product around lowering the cost and complexity of building software. It also positioned the platform as a way for people without formal technical backgrounds to turn ideas into software products.

Emergent's funding round also highlights how investors continue to back AI developer tooling, despite a crowded market of code assistants, low-code platforms and newer "vibe coding" products. Venture firms have looked for signs of revenue durability and retention among developers and small businesses as they assess which tools become embedded in workflows.

Investor backing

Khosla Ventures and SoftBank Vision Fund 2 have both made high-profile bets on AI infrastructure and applications. Their participation signals continued appetite for companies that claim to compress the time required to ship software.

Emergent said the Series B came three months after it raised USD $23 million in Series A funding. It previously raised a USD $7 million seed round.

That pace of fundraising has become more common among fast-growing AI startups that show rapid user growth, usage frequency, and early revenue conversion. Investors have also shown a willingness to fund companies that argue they can expand beyond developer audiences into non-technical users, including small businesses and solo operators.

"Software creation is undergoing a structural shift," said Mukund Jha, Co-Founder and CEO, Emergent. "It used to be that only people with technical training or capital got to turn ideas into real products. Emergent flips that model. We are seeing millions of people build and ship real businesses, workflows, and products in days. As a result, many are generating new sources of income. By helping everyday people build and monetize their ideas, Emergent is stepping in to power the most crucial segment of the economy - small businesses and entrepreneurs."

Khosla Ventures pointed to the addressable market beyond traditional software teams. "Emergent is growing at a pace we rarely see because it is tapping into a segment that has never been served," said Vinod Khosla. "When barriers to software creation fall this quickly, behavior changes across industries, not just within the technology sector. Emergent is early in shaping how software gets created and monetized over the next decade, not just the next product cycle, and its users are quick to share their success."

SoftBank Vision Fund 2 said it views the category as tied to broader entrepreneurship trends. "Emergent is harnessing AI to unlock a massive wave of entrepreneurship by removing the technical and capital barriers that have historically limited who can build software," said Sarthak Misra. "We are excited to partner with Mukund, Madhav, and the Emergent team on a shared vision to help entrepreneurs worldwide turn ideas into businesses."

Market expansion

Emergent said it will use the new capital for team growth, product development and expansion into new markets. It did not specify which geographies it plans to prioritise or whether it intends to establish a larger presence in Australia.

Australian technology companies and startups have increasingly trialled AI coding products as they look for productivity gains, faster prototyping cycles and reduced reliance on scarce engineering talent. Developer communities have also debated the trade-offs of AI-generated code, including maintainability, security, and the risk of over-reliance on automated output.

Emergent's growth metrics, if sustained, could add pressure to incumbents across code generation, web app builders and low-code tooling. It also adds another well-funded player to a segment where pricing, reliability and ease of deployment have started to matter as much as raw generation quality.

The company said demand for AI-powered software creation among entrepreneurs and small businesses continues to scale.