Magic provides developers with an SDK that lets them add password-free authentication—spanning WebAuthn hardware keys, Face ID, fingerprint scans and more—with only a few lines of code. Launched in April 2020 after rebranding from Formatic, the tool integrates with modern frameworks to eliminate the security risks inherent in traditional passwords. The company reports a 13 percent month-over-month rise in developer sign-ups and a 6 percent weekly increase in identities secured, and customers already include Decrypt and Fairmint. Thirty employees currently work for Magic on a fully remote basis, and management plans to at least double headcount across product, engineering, design, marketing, finance, people and operations. Fresh capital will also be used to extend the SDK to low-code applications and workflow automations. Long term, Magic aspires to serve as “the passport of the internet,” decentralizing the web’s identity layer.

Total raised

$83M

Funding rounds

3

Latest round

Series B

Latest activity

May 2023