Magic

Magic Raises $320M Series C

AI coding startup developing tools to help software engineers write, review, debug and plan code changes with ultra-long context windows and Long-term Memory Network (LTM) technology

Key Highlights

• Funding Amount: $320M Series C
• Valuation: Undisclosed
• Headquarters: San Francisco, CA
• Founded: 2022
• Employees: 100-200
• Total Raised: $465M

About the Funding Round

Magic has successfully closed $320M Series C in funding, marking a significant milestone in the company's growth trajectory. This investment will enable the company to accelerate product development, expand market reach, and strengthen its position in the ai/ml sector.

Investor Syndicate

The round was backed by a prestigious group of investors:

• Eric Schmidt
• CapitalG
• Atlassian
• Sequoia
• Nat Friedman

This diverse group of investors brings not only capital but also strategic expertise and valuable networks that will help Magic achieve its ambitious goals.

Market Opportunity

The ai/ml market continues to experience rapid growth, driven by increasing demand for innovative solutions and digital transformation across industries. Magic's unique approach and proven technology position it well to capture significant market share in the coming years.

Company Background

Founded in 2022 and headquartered in San Francisco, CA, Magic has established itself as an innovative player in the ai/ml space. With 100-200 employees, the company has built a strong team focused on delivering exceptional value to customers.

Next Steps

With this new funding, Magic plans to:

• Accelerate product development and innovation
• Expand into new markets and geographies
• Grow the team across engineering, sales, and operations
• Strengthen partnerships with key industry players
• Scale infrastructure to support rapid growth

Industry Impact

This funding round represents a strong vote of confidence in Magic's vision and execution. The investment will help drive innovation in the ai/ml sector and create new opportunities for customers and partners.

For more information about Magic, visit their website or contact their press office.