Magic.dev
AI-coding startup focused on extremely long-context models (claimed 100M tokens) and a frontier coding agent. Raised $320M Series B from Eric Schmidt, CapitalG, Atlassian Aug 2024. Lower public-product surface than peers — mostly known for the model claims and the funding round. As of 2026-10 magic.dev lists no released product; it describes the company as building frontier code models to automate software engineering and research.
Active · Verified 2026-10-29 · fresh as of 2026-10-29 · 20 cited facts, 0 with a third-party source · 1 recorded change · Suggest a correction
At a glance
- Tier
- T2
- Section
- Agent IDEs & coding harnesses
- Latest release
- not applicable — not OSS fix
- License
- not applicable — not OSS fix
- GitHub
- not applicable — no GitHub repo fix
- Pricing
- searched not found fix
- Funding
- $768M total raised (company-stated, 2026) from Nat Friedman, Daniel Gross, CapitalG, Elad Gil, Sequoia, Jane Street, Eric Schmidt and others vendor fix
- Freshness
- 2026-10-29 fix
- Layer
- agent-infra repo fix
- Licensing
- commercial vendor fix
When to use
Optimised for: ultra-long-context (100M-token) coding agent
Anti-fit: private beta — limited access; product surface is mostly model-based, not IDE-based
Pros & cons
Pros
Most-funded startup in the category outside Cognition/Anysphere; ultra-long-context model claim is uniquely positioned.
Cons
Largely unreleased product through 2025; product surface is opaque vs the public-launched competition.
Claims & capabilities
Eric Schmidt-backed; $465M total raised at ~$1.6B val (Aug 2024); claims 100M-token context window (LTM-2-Mini).
Technical surface
- API surface
- searched not found
- Backend storage
- searched not found
- Deployment
- Cloud (private beta)
- Embedding model
- not applicable — not a memory product
- Multi-tenancy
- searched not found
- MCP
- searched not found
- A2A
- searched not found
- OpenTelemetry
- searched not found
Alternatives to Magic.dev → live options ranked by shared design, licence, hosting and MCP support
Similar systems
Other agent ides & coding harnesses in the catalog, ranked by inbound references.
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- Cursor (IDE) T1
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- OpenAI Codex CLI T1
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- Opencode (SST) T2
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- Bedrock AgentCore (AWS) T2
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- GitHub Copilot (Agent Mode) T1
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Sources (19 cited facts, 0 third-party)
Each fact links to the page it came from; the badge says who published it (how to read sources).
- What it is Coding-agent startup; ultra-long-context model + agent vendor
- What it does & what's distinct AI-coding startup focused on extremely long-context models (claimed 100M tokens) and a f… vendor
- Claims / benefits Eric Schmidt-backed; $465M total raised at ~$1.6B val (Aug 2024); claims 100M-token cont… vendor
- Modalities text vendor
- Created 2022 vendor
- Mindshare 5+ HN threads on funding rounds; quieter on product vendor
- Funding $768M total raised (company-stated, 2026) from Nat Friedman, Daniel Gross, CapitalG, Ela… vendor
- Customers / scale private beta; few publicly named customers vendor
- Deployment Cloud (private beta) vendor
- HQ US (San Francisco) vendor
- Founders / pedigree Eric Steinberger (CEO), Sebastian De Ro vendor
- Anti-fit private beta — limited access; product surface is mostly model-based, not IDE-based vendor
- Optimised for ultra-long-context (100M-token) coding agent vendor
- Adjacent infrastructure Magic-internal model (LTM-2-Mini) vendor
- Pros Most-funded startup in the category outside Cognition/Anysphere; ultra-long-context mode… vendor
- Cons Largely unreleased product through 2025; product surface is opaque vs the public-launche… vendor
- Project & sources magic.dev; TechCrunch Aug 2024 funding coverage vendor
- licensing-bucket commercial vendor
- taxonomy-three-layer-rollup agent-infra repo
What changed
Changes to this record's lifecycle, licence, release, pricing and hosting facts, from the catalog's git history. Subscribe (Atom)