About Neural Magic
Neural Magic is a Technology company based in Cambridge (United States) founded in 2018 by Alexander Matveev, and was acquired by Red Hat in November 2024. Software development services are provided to various clients. Neural Magic has raised $45 million across 2 funding rounds from investors including Red Hat, Amdocs and NEA. Its focus areas include Business Services, IT Services, Application Development and Software Development. Its competitors include Gigster, RedShelf and NXTsoft; 3 of its 3 listed competitors have raised funding.
Company details
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.
- Headquarters Cambridge, United States
- Founders Alexander Matveev
- Stage Acquired
- SectorsTechnology
- Email••••••••
- Website neuralmagic.com
- Social LinkedIn X YouTube
- Acquired by Red Hat (Nov 2024)
Apps and channels of Neural Magic
its YouTube channel Neural Magic has 3.24K subscribers and 30 videos.
Videos from Neural Magic
The most watched videos on Neural Magic's YouTube channel, Neural Magic (3.24K subscribers). Click a video to play it here.
More on Neural Magic.
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 $45M
- Total Rounds 2
- Last Round Series A — $30M
- First Round $15M
(Nov 2019)
- Investors Count 6
All 2 funding rounds of Neural Magic with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2021 | $30M | Series A | – | New Enterprise Associates | |
| Nov 2019 | $15M | Seed | – | Comcast Ventures |
7 investors in total: 7 institutional.
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.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital investments are offered to startups by NEA. | nea.com | Menlo Park, United States | ||
Venture capital investments in technology sectors are handled by Andreessen Horowitz. | a16z.com | |||
Comcast Ventures is focused on investing in technology startups. | comcastventures.com | San Francisco, United States | ||
Early-stage centric tech-focused VC firm investing in the US | pillar.vc | Boston, United States | ||
Patient, founder-friendly capital is provided by Ridgeline Ventures. | ridgelinevc.com | Boulder, United States | ||
Cloud-based OSS and BSS solutions are provided to communications providers. | 1982 | amdocs.com | Chesterfield, United States | |
OpenStack distribution and Kubernetes cluster management are facilitated across clouds. | 1993 | redhat.com | Raleigh, United States |
Investor details for Neural Magic
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
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People of Neural Magic
683 people are tracked at Neural Magic (261 in leadership, 422 in team).
| Name | Role | Group |
|---|---|---|
Alexander Matveev | Founder | Leadership |
Marco Bill | SVP & Chief Information Officer | Leadership |
Bill Chrystie | VP Finance, Red Hat | Leadership |
Sharon Peh | Program Manager [partner Strategy], Asia Pacific | Leadership |
Kelly C. | Principal Partner Marketing Manager | Leadership |
Randy Sheetz | ISV Partner Alliance Manager | Leadership |
Girish Nair | Client Director | Leadership |
Michael Ferris | SVP & Chief Strategy Officer | Leadership |
Jennifer Dudeck | SVP, Chief People Officer | Leadership |
Tracy Rankin | VP, OpenShift Engineering Global | Leadership |
Salina Alie | Director - Customer Success Delivery | Leadership |
Peter Beniaris | Sales Director, Linux Platform | Leadership |
Mario Vaz | Chief Financial Officer | Leadership |
Todd Goldrick | Senior Director Partner Ecosystem Sales - SLED | Leadership |
Ohad Anaf Levy | Senior Director, Ecosystem Engineering - Vertical Markets & Technology Segments | Leadership |
Dennis Gregorovic | Director | Leadership |
John Dvorak | Chief Technology Officer, Public Sector | Leadership |
Andreas Spanner | Chief Architect, Intelligent Edge, CTO Organisation & Global Engineering | Leadership |
Lin-Gang Jin | Director, Subscription Education And Awareness Under Customer Success | Leadership |
Itamar Heim | Vice President & Distinguished Engineer, Ecosystem Engineering | Leadership |
663 more people are available in the full profile.
Complete people profiles for Neural Magic
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Timeline of Neural Magic
4 dated milestones of Neural Magic across 6 years, from founding to its latest funding, stage changes and deals.
- Founded Neural Magic is founded.
- Funding First funding round of $15.0M.
- Funding Latest funding round, Series A, of $30.0M.
- Exit Acquired by Red Hat.
Competitors of Neural Magic
Neural Magic has 3 listed competitors in our database, 3 of them funded. They include Gigster, RedShelf and NXTsoft.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| gigster.com | 2013 | Austin, United States | $32.5M | 12 | Software development services are provided via an AI-powered platform. | |
| redshelf.com | 2012 | Chicago, United States | $82.53M | 107 | Platform offering digital textbooks for students | |
| nxtsoft.com | 2017 | Birmingham, United States | $4.83M | 79 | Computer software development services provider |
Detailed competitors of Neural Magic
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
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Web traffic of Neural Magic
Websites that share an audience with Neural Magic (neuralmagic.com).
Websites whose visitors overlap most with Neural Magic. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
bdtechtalks.com | bdtechtalks.com | 100% | #632,834 | – | |
| databasemart.com | 100% | 680.7K | #99,068 | View details | |
cyberbus.net | cyberbus.net | 100% | #2,759,245 | – | |
| zilliz.com | 100% | 193.2K | #207,957 | View details | |
adasci.org | adasci.org | 60% | #786,826 | – | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 11 similar websites and full traffic analytics for Neural Magic
The complete similar-websites list, audience overlap and engagement analytics require an active premium plan.
- 11 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
Verified entity values are shown only after access is granted.
Top companies in IT Services & Operations
3 companies that operate in the same segment as Neural Magic (IT Services & Operations) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cloud orchestration solutions are provided for multi-cloud and device applications. | 1998 | Palo Alto, California, United States | USD 595.83 M | USD 812.05 M | 8,861 | |
A cloud-based platform for incident management software is provided. | 2009 | San Francisco, California, United States | USD 173.6 M | USD 492.55 M | 4,473 | |
Unified IT management is delivered through a cloud-based platform. | 2004 | Santa Clara, California, United States | USD 83.7 M | USD 13.28 B | 26,290 |
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Related news about 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. The company's 1st funding round was a Seed of $15M, raised on Nov 2019.
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 has 7 investors. Key investors include Red Hat, Amdocs, NEA, Andreessen Horowitz, and Comcast Ventures.
Yes. Neural Magic was acquired by Red Hat in November 2024.