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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Sectors
Technology
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Email
***********
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Phone
*********
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Website
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Social
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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.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $30.0M
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First Round
First Round
(07 Nov 2019)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2021 | Amount | Series A - Neural Magic | Valuation | New Enterprise Associates | |
| Nov, 2019 | Amount | Seed - Neural Magic | Valuation | Comcast Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital investments are offered to startups by NEA.
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Founded Year | Domain | Location | |
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Venture capital investments in technology sectors are handled by Andreessen Horowitz.
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Founded Year | Domain | Location | |
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Comcast Ventures is focused on investing in technology startups.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Neural Magic
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Neural Magic
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Neural Magic Comparisons
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. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
IT services suite solutions are provided globally by AlmavivA.
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| domain | founded_year | HQ Location |
Mobile application development and UX design services are provided.
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| domain | founded_year | HQ Location |
Embedded computing platforms are developed for industrial applications.
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| domain | founded_year | HQ Location |
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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| domain | founded_year | HQ Location |
Platform offering digital textbooks for students
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Neural Magic
Frequently Asked Questions about Neural Magic
When was Neural Magic founded?
Neural Magic was founded in 2018 and raised its 1st funding round 1 year after it was founded.
Where is Neural Magic located?
Neural Magic is headquartered in Cambridge, United States. It is registered at Cambridge, Massachusetts, United States.
Is Neural Magic a funded company?
Neural Magic is a funded company, having raised a total of $45M across 2 funding rounds to date. The company's 1st funding round was a Seed of $15M, raised on Nov 07, 2019.
What does Neural Magic do?
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.
Who are the top competitors of Neural Magic?
Neural Magic's top competitors include RedShelf, Unicorn and Hedgehog lab.
Who are Neural Magic's investors?
Neural Magic has 7 investors. Key investors include Red Hat, Amdocs, NEA, Andreessen Horowitz, and Comcast Ventures.
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