Coding & software agents · San Francisco, US · founded 2022
Magic: who founded it, who funds it
Magic is a San Francisco AI coding lab founded in 2022 by Eric Steinberger and Sebastian De Ro, who came from Meta. What it is building: ultra-long-context models for software engineering. It has raised $320M in disclosed rounds, most recently a Series C of $320M at a $1.5B valuation in August 2024, led by Eric Schmidt and Jane Street. It has not released anything outsiders can use yet.
- Founders
- Eric Steinberger (ex-Meta), Sebastian De Ro
- Founders from
- ex-Meta
- Location
- San Francisco, US (North America)
- Valuation
- $1.5B set by the last priced round
- Raised
- $320M disclosed
- Investors
- Eric Schmidt lead, Jane Street lead, Sequoia, Atlassian, CapitalG
- What ships
- Research only
Rounds
| Date | Round | Amount | Valuation | Lead | Source |
|---|---|---|---|---|---|
| Aug 29, 2024 | Series C | $320M | $1.5B | Eric Schmidt, Jane Street | neolabs.fyi |
Sources
- neolabs.fyi neolabs.fyi
News
- Aug 29, 2024
Investors who back other labs here
- Sequoia also: Safe Superintelligence, Reflection AI, Skild AI, Physical Intelligence
- Eric Schmidt also: Reflection AI, Periodic Labs
- Jane Street also: Thinking Machines Lab