Luxembourg cloud management start-up secures new funding
Summary
Emma, a solution for managing so-called multicloud environments, has successfully closed a $17 million (16.1 million) Series A funding round which is the latest in a series of investments in the Luxembourg start-up.Led by Smartfin, with participation from RTP Global and existing investors, the latest cash injection brings Emmas total funding to $23 million (21.9 million) following a $6 million Seed Round in March 2023.Founded in 2019, and launched in 2022, Emma says it is transforming how businesses optimise and scale their cloud infrastructure. The platform leverages AI-driven automation, real-time analytics, and comprehensive multicloud management capabilities to streamline operations, reduce costs and enhance agility.With the new funding, Emma plans to accelerate its product development, expand marketing and enhance customer care.As businesses grow, they need the freedom to scale across any provider without limitations, CEO Dmitry Panenkov said in a press release. This funding accelerates our mission to give companies the control and flexibility they need to optimise across all environments.As well as supporting new features, including AI and security boosts, Emma says it will establish a research and development centre at its Luxembourg headquarters to support product development and meet the increasing demands of its growing customer base.Emma works with clients across various industries, including gaming, fintech, healthcare, and retail. The new funding will also enable Emma to extend its reach into the US market, where demand for multicloud management solutions is on the rise, the company says.The platform allows client organisations to access cloud resources from any provider, in any environment, without constraints, with the goal of enhancing performance, lowering costs and unlocking the full potential of their cloud investments.