Financial technology startup Emergent, a San Francisco-based and Bengaluru-rooted company, is on a money-moving mission. Just eight months after its creation, the company has already logged ARR revenue over the $100 million mark. Founded by Mukund Jha, the company has developed a platform that allows users to digitize operations traditionally managed through spreadsheets, email, or messaging apps. This democratization of software creation allows everyday users of technology to create highly specific tools that make their tasks easier and more efficient.
In January, Emergent raised $70 million in an extension of its Series A funding round, led by SoftBank Vision Fund 2 and Khosla Ventures. That large investment has now tripled the cargo logistics startup’s last valuation to a whopping $300 million. The influx of capital underscores the growing confidence investors have in Emergent’s business model and the demand for its services.
Emergent’s platform is unique in offering a mobile app for both iOS and Android devices. With this app, users can build powerful apps and automatically publish them to their own Apple App Store and Google Play Store. Engagement Since its launch, users have built more than 10,000 applications on the platform. This extraordinary campaign was instrumental in allowing Emergent to win a grand total of over 7 million applications developed nationwide.
The startup runs on a smart and varied revenue mix, including subscriptions, usage-based pricing, and deployment and hosting fees. Today, it serves over 6 million users in 190 countries. Among these, approximately 150,000 are paying customers. This 66% increase in revenue growth is noteworthy. Emergent has seen its ARR go from $50 million to $100 million in the last month!
Emergent’s core user demographic is small businesses, which make up almost 40% of its userbase. We’ve found that 7 in 10 users come in with little-to-no prior coding experience. This underscores the platform’s accessibility and its attraction to those who struggle with more conventional software development.
Emergent’s work is underscoring a deliberate move toward mobile application development. Close to 80% to 90% of new projects now focus on this thrilling hubbub! This transition is a response to an increasing demand for more mobile, innovative solutions in a fast-growing digital world.