Startup Trends: The 5 top funded startups of Q3 2024
Five firms from various industries — Groq, Arsenal Bio, Magic, Crible, and Devoted Health — ranked among the highest in fundraising in the third quarter of 2024.
magic.devEnterprise Software / Data IntelligenceFounded: 2022Funding to Date: $466.22MM
Magic is a technology company which offers frontier-scale AI models for code generation and automation to developers and enterprises. This company was founded by Eric Steinberger and Sebastian De Ro in 2022 and is headquartered in San Francisco, CA. Magic’s platform combines large-scale pre-training, domain-specific reinforcement learning, and ultra-long context models to automate AI research and code creation. The company aims to accelerate advancements in artificial general intelligence (AGI) by providing powerful tools designed to help organizations build more efficient AI-driven systems.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
08/29/2024 | Series C | $320.75MM | $xx.xx | $1.5B | CapitalG, Atlassian Ventures, Elad Gil, Jane Street Capital, Nat Friedman, Daniel Gross, Sequoia Capital, Eric Schmidt | |
Price per Share
$xx.xx
Shares Outstanding
4,556,103
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
CapitalG, Atlassian Ventures, Elad Gil, Jane Street Capital, Nat Friedman, Daniel Gross, Sequoia Capital, Eric Schmidt
|
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02/12/2024 | Series B | $117.33MM | $xx.xx | $565.77MM | NFDG Ventures, CapitalG, Elad Gil | |
Price per Share
$xx.xx
Shares Outstanding
3,517,659
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
NFDG Ventures, CapitalG, Elad Gil
|
||||||
02/06/2023 | Series A | $23MM | $xx.xx | $120.81MM | CapitalG, Nat Friedman, Elad Gil, Amplify Partners, Noam Brown, Mehdi Ghissassi, Bryan Pellegrino, Arthur Breitman, 10x Founders, William Tunstall-Pedoe, Adam Hafer & Fredrik Hjelm, Klaudius Kalcher & Roland Boubela, Xavier Sarras, Florian Huber, Daniel Dippold | |
Price per Share
$xx.xx
Shares Outstanding
2,001,039
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
CapitalG, Nat Friedman, Elad Gil, Amplify Partners, Noam Brown, Mehdi Ghissassi, Bryan Pellegrino, Arthur Breitman, 10x Founders, William Tunstall-Pedoe, Adam Hafer & Fredrik Hjelm, Klaudius Kalcher & Roland Boubela, Xavier Sarras, Florian Huber, Daniel Dippold
|
||||||
06/30/2022 | Series A-6 | $240,592 | $xx.xx | $42.03MM | Undisclosed Investors | |
Price per Share
$xx.xx
Shares Outstanding
32,976
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Undisclosed Investors
|
||||||
06/30/2022 | Series A-5 | $501,245 | $xx.xx | $42.03MM | Undisclosed Investors | |
Price per Share
$xx.xx
Shares Outstanding
74,947
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Undisclosed Investors
|
||||||
06/30/2022 | Series A-4 | $1.54MM | $xx.xx | $42.03MM | Undisclosed Investors | |
Price per Share
$xx.xx
Shares Outstanding
253,096
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Undisclosed Investors
|
||||||
06/30/2022 | Series A-3 | $1MM | $xx.xx | $42.03MM | Undisclosed Investors | |
Price per Share
$xx.xx
Shares Outstanding
183,207
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Undisclosed Investors
|
||||||
06/30/2022 | Series A-2 | $751,881 | $xx.xx | $42.03MM | Undisclosed Investors | |
Price per Share
$xx.xx
Shares Outstanding
154,581
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Undisclosed Investors
|
||||||
06/30/2022 | Seires A-1 | $1.1MM | $xx.xx | $42.03MM | Undisclosed Investors | |
Price per Share
$xx.xx
Shares Outstanding
453,438
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Undisclosed Investors
|
Five firms from various industries — Groq, Arsenal Bio, Magic, Crible, and Devoted Health — ranked among the highest in fundraising in the third quarter of 2024.