About Neural Magic
Neural Magic is a company based in Cambridge (United States) founded in 2018 by Alexander Matveev was acquired by Red Hat in November 2024. Neural Magic has raised $45 million across 2 funding rounds from investors including Red Hat, Amdocs and NEA. Neural Magic operates in a competitive market with competitors including AlmavivA, Hedgehog lab, Kontron, Unicorn and Gigster, among others.
- Headquarter Cambridge, United States
- Founders Alexander Matveev
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Technology
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People of Neural Magic
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Sales and Marketing
156 people
Software Development Team
151 people
Leadership Team
139 people
Finance and Accounting
25 people
Senior Team
23 people
Human Resources and Administration
16 people
Strategic Team
16 people
Partner Team
16 people
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Funding Insights of Neural Magic
Neural Magic has successfully raised a total of $45M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $30 million completed in October 2021. 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.
Investors in Neural Magic
Neural Magic has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include Red Hat, Amdocs and NEA.
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Venture capital investments are offered to startups by NEA.
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Venture capital investments in technology sectors are handled by Andreessen Horowitz.
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Comcast Ventures is focused on investing in technology startups.
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Investor details for Neural Magic
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Investments & Acquisitions by Neural Magic
Investment portfolio details for Neural Magic
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Financial Statements - Neural Magic
Detailed financials for Neural Magic
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Neural Magic Comparisons
Peer comparison for Neural Magic
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Competitors of Neural Magic
Neural Magic 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 AlmavivA, Hedgehog lab, Kontron, Unicorn and Gigster, among others.
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IT services suite solutions are provided globally by AlmavivA.
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Mobile application development and UX design services are provided.
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Embedded computing platforms are developed for industrial applications.
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Software development services are provided by Unicorn in Prague.
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Software development services are provided via an AI-powered platform.
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Platform offering digital textbooks for students
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Detailed competitors of Neural Magic
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Latest news on Neural Magic
Complete news archive for Neural Magic
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Frequently Asked Questions about Neural Magic
Neural Magic was founded in 2018 and raised its 1st funding round 1 year after it was founded.
Neural Magic is headquartered in Cambridge, United States. It is registered at Cambridge, Massachusetts, United States.
Neural Magic is a funded company, having raised a total of $45M across 2 funding rounds to date.
Neural Magic was founded in 2018 by Alexander Matveev and is headquartered in Cambridge, United States. Software development services are delivered within the technology sector, with operations centered on custom solutions for clients. Focus is placed on efficient software creation and maintenance, supporting businesses across different industries from the companys U.S. base.
Neural Magic's top competitors include RedShelf, Unicorn and Hedgehog lab.
Neural Magic has 7 investors. Key investors include Red Hat, Amdocs, NEA, Andreessen Horowitz, and Comcast Ventures.