Magic

Private

San Francisco-based foundation model lab focused on frontier code generation and long-context reasoning. Trains Magic LTM-2-mini (100M token context) and Magic Sigma foundation models. Enterprise customers include Alphabet, Meta, and Salesforce for internal developer tooling. Backed by Alphabet, Nvidia, and CapitalG. Founded 2022.

Founders Eric Steinberger

CEO Eric Steinberger

Company

Founded

2022

Headquarters

San Francisco, United States

Financials

Total Funding

$643M

Sectors

Artificial Intelligence Developer Tools

magic.dev

Funding History

3 rounds

Series C Aug 12, 2026

$300M

Alphabet Ventures (CapitalG) (Lead) NVIDIA Eric Schmidt Atlassian Elad Gil Nat Friedman Daniel Gross General Catalyst Sequoia Capital

Series B Aug 29, 2024

$320M

Eric Schmidt (Lead) NVIDIA Alphabet Ventures (CapitalG) Atlassian Elad Gil Nat Friedman Daniel Gross

Series A Jun 15, 2023

$23M

Alphabet Ventures (CapitalG) (Lead) Nat Friedman Daniel Gross Elad Gil

Funding data is compiled from multiple independent sources including company announcements, press coverage, and regulatory filings. While we strive for accuracy, amounts and dates may reflect reported figures at time of announcement.