Emma Technologies, a cloud management platform that helps enterprise businesses optimize and scale their cloud infrastructure, said today it has raised $17 million in early financing to expand the company’s product development and fuel growth.

The Series A funding round was led by Smartfin, a European venture capital firm, with participation from RTP Global and existing investors. This investment follows a $6 million seed round from March 2023, bringing the total raised by the company to over $23 million.

The name of the company, Emma stands for Enterprise Multicloud Management Application, which describes the platform that the company provides. A cloud-agnostic approach that uses artificial intelligence to assist businesses in deploying applications on any cloud infrastructure using a single user-friendly back end.

The company says its solution is completely cloud-native and works across numerous on-premises, private, hybrid and public cloud providers, including Amazon Web Services, Google Cloud Platform and more. The objective of the service is to provide a single intuitive interface with actionable methods to improve operational efficiency for business users.

Using AI-driven insights, the company’s platform delivers real-time cost optimization to help keep budgets in check, even across multicloud environments. This includes dashboards that display usage rates, workload distribution, cost controls and automation mechanics. The company also supplies tools for integrated software development development and operations teams, known as DevOps, to provide automated workflows in secure cloud environments.

“We help bigger organizations to streamline the way they interact with different cloud service providers and the way they manage the different cloud environments and the applications,” Emma Technologies Chief Executive Dmitry Panenkov said on theCUBE, SiliconANGLE Media’s livestreaming studio, at the recent KubeCon EU 2024. “We help them to deploy, manage, analyze the workloads and properly reduce their cloud costs and what they do in the clouds as well.”

Emma helps enterprise businesses decide how to deploy workloads and how they scale based on set criteria. For example, a user can optimize for cost, speed or reliability. Since the system is cloud-agnostic and multicloud, it can shift workloads across multiple clouds making it possible to pick and choose between many cloud environments and opt to pick the best place to run workloads according to customer needs.

The company said it would use the additional funding to continue innovating on its current products, including introducing accelerated AI systems into its platform, enhanced security, more cloud integrations and a larger number of automation capabilities. The company also said it intends to expand research and development efforts at its Luxembourg headquarters to support product development in response to increasing demands from its growing customer base.

Since officially launching its product in 2022, Emma said its client base has grown to include multiple industries such as gaming, fintech, healthcare and retail. The company added that the funding would allow it to expand regionally into United States markets as demand for multicloud management solutions continues to increase.

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