Series A · Enterprise software
Magentic raises $18m Series A to expand procurement agents
Felicis led the financing, with returning investors Sequoia Capital and The Westly Group.
Magentic will use the capital to extend its AI agents across procurement and supply-chain work and develop their ability to solve complex optimisation problems.
Its digital workers act within manufacturers’ existing systems, including email and Microsoft Teams, across tasks such as supplier selection, orders and invoice processing. The London and New York company launched in July 2025 and says its customers include three of the world’s ten largest beverage companies.
Use of funds
Accelerate the AI-agent roadmap
Extend coverage across procurement and supply-chain workflows
Deepen research on complex optimization problems in procurement and supply chains
Funding history
Series A · This round$18M