AI Unicorn Emergent Raises $130 Million for GCC Expansion

Emergent, an AI software creation platform, has raised $130 million in a Series C funding round at a $1.5 billion valuation, as the company prepares to expand across the Gulf Cooperation Council (GCC).

The round was led by Creaegis, with Claypond and Sentinel Global serving as co-leads. Existing investors including Khosla Ventures, SoftBank Vision Fund 2, Lightspeed, and Y Combinator also participated.

Emergent's platform enables users to build full-stack web and mobile applications using autonomous AI agents rather than traditional coding. The company said around 70% of its users have no previous programming experience, with the platform designed to help businesses create software including customer relationship management (CRM) systems, enterprise resource planning (ERP) platforms, marketplaces and mobile applications.

According to the company, the latest financing values Emergent at $1.5 billion, representing a fivefold increase in valuation over the past four months and making it a unicorn roughly one year after its public launch.

The company plans to use the funding to expand into strategic growth markets, including the GCC, where governments and businesses continue investing in digital transformation and artificial intelligence. Emergent said the expansion will focus on helping organisations build digital products, automate operations and develop custom business applications more efficiently.