About Magma
Magma is a company based in Escondido (United States) founded in 2020. It operates as a SaaS (Software-as-a-Service) and Freemium. Magma has raised $5 million across 1 funding round from investors including GFR Fund, 4Founders Capital and Supernode Global. Magma offers products and services including Magma Collaborative Drawing Platform. Magma operates in a competitive market with competitors including Pixilart, Sketchub, Thangs, ARTXP and FanBook, among others.
- Headquarter Escondido, United States
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Sectors
EducationMedia & Entertainment
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Phone
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$5 M (USD)
in 1 rounds
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Latest Funding Round
$5 M (USD), Seed
Dec 12, 2023
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Investors
GFR Fund
& 6 more
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Employee Count
Employee Count
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Products & Services of Magma
Magma offers a comprehensive portfolio of products and services, including Magma Collaborative Drawing Platform.
A platform for artists to draw collaboratively online.
Funding Insights of Magma
Magma has successfully raised a total of $5M through 1 strategic funding round. The most recent funding activity was a Seed round of $5 million completed in December 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $5.0M
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First Round
First Round
(12 Dec 2023)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Dec, 2023 | Amount | Seed - Magma | Valuation | GFR Fund |
Investors in Magma
Magma has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include GFR Fund, 4Founders Capital and Supernode Global.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage VR/AR startups are funded by GFR Fund.
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Venture capital investments are provided to tech startups.
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Venture capital investing with a focus on diversity and inclusion in the ecosystem.
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Investments & Acquisitions by Magma
Financial Statements - Magma
Magma Comparisons
Competitors of Magma
Magma operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Pixilart, Sketchub, Thangs, ARTXP and FanBook, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Online platform for pixel art creation, sharing, and community engagement.
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| domain | founded_year | HQ Location |
Provides a versatile platform for sharing programming creations and projects.
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| domain | founded_year | HQ Location |
Social platform for 3D model enthusiasts
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| domain | founded_year | HQ Location |
Provider of a collaboration platform for artists
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| domain | founded_year | HQ Location |
Operates a social networking platform for users to share and engage with fan art.
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Frequently Asked Questions about Magma
Magma was founded in 2020 and raised its 1st funding round 3 years after it was founded.
Magma is headquartered in Escondido, United States. It is registered at Escondido, California, United States.
Steve Steve Steve is the current CEO of Magma.
Magma is a funded company, having raised a total of $5M across 1 funding round to date. The company's 1st funding round was a Seed of $5M, raised on Dec 12, 2023.
A collaborative drawing platform is offered by Magma for digital artists, art communities, game developers, and creative teams. Artists can paint together on shared canvases, chat, and sketch online. Connections are facilitated through fan art events and community engagement. The platform serves various sectors including digital art and game development with solutions for real-time collaboration.
Magma offers Magma Collaborative Drawing Platform.
Magma has 7 investors. Key investors include GFR Fund, 4Founders Capital, Supernode Global, Gaingels, and Anorak Ventures.