LUXEMBOURG, Nov. 25, 2024 (GLOBE NEWSWIRE) -- emma, the innovative cloud management platform transforming how businesses optimize and scale their cloud infrastructure, is today announcing the successful closure of its $17 million Series A funding round. This follows its $6 million Seed Round in March 2023, bringing total funding to $23 million within two years.
The Series A round was led by Smartfin, a leading European venture capital firm, with participation from RTP Global and existing investors. The capital will fuel the expansion of emma’s product development, accelerate go-to-market efforts, and enhance customer success initiatives to meet the growing demand for efficient agnostic cloud management solutions.
Founded in 2019, emma enables organizations to streamline cloud operations, reduce costs, and improve agility through its intuitive platform. The platform combines advanced AI-driven automation, real-time analytics, and comprehensive multicloud management capabilities, allowing teams to gain full visibility and control over their cloud environments. By simplifying complex cloud ecosystems, emma helps businesses optimize workloads, forecast usage, and manage multicloud strategies, enabling more effective resource allocation and financial predictability.
Highlighting emma’s vision for the future of cloud operations, CEO, Dmitry Panenkov commented, “At emma, we’re shaping the future of cloud operations. As businesses grow, they need the freedom to scale across any provider without limitations. We're building the standards to make cloud-agnostic operations a reality. This funding accelerates our mission to give companies the control and flexibility they need to optimize across all environments.”
The Series A round will allow emma to continue its rapid innovation and bring new features to the platform, including AI accelerators, enhanced security, broader cloud integrations, and more robust automation capabilities. Additionally, the company intends to establish a research and development center at its headquarters in Luxembourg to support product development and address the increasing demands of its growing customer base.
“emma is addressing one of the most critical challenges for modern enterprises: managing and optimizing complex multi-cloud environments," added Harry Haeck, Partner at Smartfin. "By combining automation, cost visibility, and actionable insights into a single platform, emma offers a unique approach to cloud management, enabling businesses to focus on innovation instead of infrastructure. At Smartfin, we are proud to partner with a transformative company that is leading the way in smarter, more agile cloud strategies for enterprises worldwide.”
Jelmer de Jong, CTO at RTP Global, says: "More businesses are turning to multicloud solutions than ever before as they reassess what is best for their workload. emma's holistic platform empowers customers to create a cloud environment that best reflects their needs, allowing them to work with any provider and environment without compromise. We see the impact the company is making in the market through the platform’s continued growth since Seed funding and look forward to maintaining our relationship as emma continues to enhance its offering even further."
After the official product release in 2022, emma has grown its client base across multiple industries, including gaming, fintech, healthcare, and retail, helping organizations of all sizes optimize and enhance the performance of their cloud infrastructure. The new funding will also enable emma to expand its reach into the US market as demand for multicloud management solutions continues to rise.
For more information about emma, visit emma.ms.
About emma:
emma is an end-to-end platform for cloud management, combining a cloud-agnostic approach with comprehensive AI-powered capabilities that empower organizations to access cloud resources by any provider, in any environment without constraints. With emma, organizations can seamlessly navigate between different cloud providers and environments, enhancing performance, optimizing costs and unlocking the full potential of their cloud investments.
About Smartfin:
Smartfin is a European venture and growth capital investor, managing over €600 million in assets and investing in early and growth stage B2B technology companies. Smartfin has an open-ended investment philosophy and invests throughout Europe and the United Kingdom. Smartfin’s team combines a successful venture capital and private equity investment track-record with extensive operational experience in setting up, building, and managing leading international technology companies which differentiates us as an experienced and entrepreneurial, truly hands-on and value-added partner to our portfolio companies. For more info, please visit www.smartfinvc.com.
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