Luxembourg-based emma secures €16.3 million in funding to develop cloud management platform | EU-Startups

Cloud management platform emma has successfully closed a €16.3 million Series A funding round to further develop their platform, led by venture capital firm Smartfin with participation from RTP Global and existing investors.

This brings emma’s total funding to €22.1 million, following its €5.7 million Seed Round in March 2023.

Founded in 2019, emma provides a solution for managing multicloud environments, enabling businesses to streamline operations, optimise costs, and enhance agility. Its platform integrates AI-driven automation, real-time analytics, and multicloud management tools, offering organisations full visibility and control over their cloud infrastructure.

Emma aims to empowers businesses to optimise workloads, forecast usage, and improve resource allocation, ensuring financial predictability and operational efficiency.

CEO Dmitry Panenkov comments on emma’s mission: “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 new funding will accelerate emma’s product development, expand its go-to-market efforts, and strengthen customer success initiatives. Plans include launching AI accelerators, enhancing security, broadening cloud integrations, and advancing automation capabilities. The company also intends to establish a research and development centre at its Luxembourg headquarters to address the demands of its customer base.

“Emma is addressing one of the most critical challenges for modern enterprises: managing and optimising 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, added: “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 its official product release in 2022, emma has grown its client base across industries including gaming, fintech, healthcare, and retail. The Series A funding will also support emma’s expansion into the US market, addressing rising demand for multicloud management solutions globally.