COMPANY INFO
Magic Software Enterprises Ltd is a global enterprise software company founded in 1983 by David Assia and Yaki Dunietz. It has over 2500 employees and operates in the software industry, providing application and integration platforms to businesses worldwide. The company is headquartered in Or Yehuda, Israel, and its website is https://www.magicsoftware.com/.
Magic is a global enterprise software company founded in 1983, specializing in business and productivity software solutions. Headquartered in Or Yehuda, Israel, Magic serves clients worldwide with application and integration platforms that help businesses streamline operations and embrace digital transformation. The company, with a workforce of over 2,500, is recognized for its innovative enterprise solutions in the software industry.
Magic has established a robust funding history, raising an impressive total of $466 million over 4 funding rounds, which include 1 Seed round, 2 Early-Stage rounds, and 1 Late-Stage round. These funding activities mark significant milestones in Magic's evolution, supporting its growth and expansion in AI-driven coding tools and infrastructure. The company's funding strategy has involved attracting top-tier venture capital partners such as Sequoia Capital and CapitalG, with funds directed toward enhancing AI capabilities, expanding into new markets, and building cutting-edge infrastructure on platforms like Google Cloud. Notable funding rounds have addressed needs ranging from initial product development to advanced scaling of Magic's solutions.
This recent venture round was aimed at further enhancing Magic's AI capabilities and expanding its market reach within the enterprise software space.
The largest funding round to date, this venture round was dedicated to the development and expansion of AI-driven coding tools, as well as the construction of supercomputers on Google Cloud to support advanced enterprise workloads.
Magic utilized Series B capital to fuel rapid growth, particularly for AI code generation, facilitating further product scaling, research, and development.
This round focused on expanding the core team and accelerating product development to bring advanced AI-driven features to market.
Seed funding was used to kickstart the initial development of Magic's innovative AI-driven coding tools, setting the foundation for future growth.
Former CEO of Google, Eric Schmidt’s participation injects significant strategic value and high-profile backing as Magic pursues ambitious expansion in AI and enterprise platforms.
CapitalG, the growth investment arm of Alphabet, has been a driving force behind Magic's major funding rounds, providing both capital and strategic guidance to fuel scaling and innovation.
A renowned venture capital firm, Sequoia has played a significant role in Magic's trajectory, supporting their expansion into new markets and enterprise partnerships.
Atlassian's investment aligns Magic with a global leader in team productivity software, offering industry know-how and market exposure.
Elad Gil, noted Silicon Valley investor and entrepreneur, contributes deep technical expertise and extensive networking to Magic's venture strategy.
As an expert in developer productivity and AI, Nat Friedman brings additional strength to Magic’s investor consortium, furthering AI- and code-focused innovation.
Entrepreneur and venture investor Daniel Gross provides strategic direction and capital for Magic’s growth and R&D activities.
Jane Street, a leading quantitative trading firm, offers both financial backing and strategic insight relevant to Magic’s AI and software ambitions.
The lead investor in the Series B round, NFDG Ventures supported Magic’s major push to accelerate AI code generation capabilities.
Flat Capital was the lead investor in the January 2025 venture round, fueling efforts to increase Magic's AI capabilities and market expansion.
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