Emergent turns unicorn in $130 million round

AI startup Emergent raised $130 million in a funding round led by Creaegis, valuing the company at $1.5 billion and making it a unicorn.

Emergent enables users without coding skills to build web and mobile applications using autonomous AI agents.

The company plans to use the capital for product development and global expansion.

Emergent crossed $100 million in annual recurring revenue in February and has 11 million users who built over 12 million applications.

Small businesses account for half of Emergent's commercial user base, with North America and Europe each contributing about a third of revenue.