Emergent, the AI-powered software development platform founded by twin brothers Mukund and Madhav Jha, has closed a $130 million Series C round that officially pushes it into unicorn territory. The company now boasts a $120 million annualized revenue run rate and more than 200,000 paying customers.
Emergent’s platform lets users build, test, and deploy full-scale web and mobile applications using natural language descriptions.
From zero to unicorn in record time
The company was founded in 2024, raised a $23 million Series A in September 2025 led by Lightspeed, then followed up with a $70 million Series B in January 2026 led by SoftBank Vision Fund 2 and Khosla Ventures. That Series B valued the company at $300 million post-money, a 3x jump from its Series A valuation of roughly $100 million.
Revenue growth tells the same story. As of January 2026, the company reported about $50 million in annualized recurring revenue, with an internal target to surpass $100 million by April 2026. The latest figure of $120 million in annualized revenue suggests they exceeded that target. 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.
