When was Neural Magic founded?

Neural Magic was founded in 2018.

Where is Neural Magic located?

Neural Magic is headquartered in Cambridge, United States.

Who is the current CEO of Neural Magic?

Brian Stevens of Neural Magic. They are also an angel investors in 1 startup.

How many employees does Neural Magic have?

As of Aug 31, 2026, the latest employee count at Neural Magic is 15.

Is Neural Magic a funded company?

Neural Magic is a funded company, having raised a total of $50M across 3 funding rounds to date. The company's 1st funding round was a $***** Seed round.

When was the latest funding round of Neural Magic?

Neural Magic's latest funding was a $***** Series A round on Oct 05, 2021, with participation from 6 investors. Its primary sector is IT Services. In United States, the IT Services sector has seen $2.63B in funding in 2026 to date.

Where does Neural Magic rank among its competitors?

Neural Magic ranks 572nd amongst 82726 active competitors, of which 607 are funded. It stands 2nd in terms of total funding among its competitors. The most recent competitor to raise funding was Tset, which secured $13.8M in Jul, 2024.

Who are the top competitors of Neural Magic?

Neural Magic's top competitors include GirnarSOFT, Gigster and Unicorn. Among them, Tset secured the most recent funding round in July, 2024.

Neural Magic - 2026 Company Profile, Team, Funding & Competitors

Neural Magic is an acquired company based in Cambridge (United States), founded in 2018 by Alexander Matveev. It operates as a Provides software development services. Neural Magic has raised $50M in funding from New Enterprise Associates and Comcast Ventures. The company has 82726 active competitors, including 607 funded and 2276 that have exited. Its top competitors include companies like GirnarSOFT, Gigster and Unicorn.

Company Details

Website: neuralmagic.com
Social
Email ID: *****@neuralmagic.com

Key Metrics

Founded Year

2018

Location

Cambridge, United States

Stage

Acquired

Total Funding

$50M in 3 rounds

Latest Funding Round

Series A, Oct 05, 2021, $*****

Investors

New Enterprise Associates & 6 more

Ranked

572^nd among 82726 active competitors

Employee Count

15 as on Aug 31, 2026

Similar Companies

Incentro & 18117 more

Exit Details

Acquired by Red Hat (Nov 12, 2024)

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Neural Magic got acquired by Red Hat on Nov 12, 2024.

Click here to take a look at Neural Magic's acquisition in detail

Neural Magic has raised a total funding of $50M over 3 rounds. Its latest funding round was a Series A round on Oct 05, 2021 for $*****. 6 investors participated in its latest round. Neural Magic has 7 institutional investors.

Here is the list of recent funding rounds of Neural Magic:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Oct 05, 2021	5253683	Series A	5906963	9196841	4108348	7155854
Nov 07, 2019	4880741	Seed	2211068	4328399	Comcast Ventures	Pillar VC & 3 more

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View details of Neural Magic's funding rounds and investors

The founders of Neural Magic is Alexander Matveev.

Here are the details of Neural Magic's key team members:

Alexander Matveev: Founder of Neural Magic.
Brian Stevens: CEO of Neural Magic. They are also an angel investor in 1 startup.

View details of Neural Magic's Founder profiles and Board Members

Neural Magic's employee count trend

Neural Magic has 15 employees as of Aug 26. Here is Neural Magic's employee count trend over the years:

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Top competitors of Neural Magic include GirnarSOFT, Gigster and Unicorn. Here is the list of Top 10 competitors of Neural Magic, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	GirnarSOFT 2007, Jaipur (India), Series E	Provider of website, web & mobile application development, BI, and digital marketing services	$620M	Peak XV Partners, Hillhouse & 43 others	78/100
2nd	Gigster 2013, Austin (United States), Acquired	Provider of software development services	$32.5M	Redpoint Ventures, Felicis Ventures & 22 others	69/100
3rd	Unicorn 1990, Prague (Czech Republic), Acquired	Provider of software development services	$12M	iAngels, Israel Seed Partners & 4 others	66/100
4th	Hedgehog lab 2007, Newcastle Upon Tyne (United Kingdom), Series A	Provider of mobile application development and UX design services	$9.49M	Maven Capital Partners, BGF & 1 others	60/100
5th	Capital Numbers 2012, Kolkata (India), Public	Provider of application development and DevOps services	-	-	58/100
6th	Fixstars Corporation 2002, Tokyo (Japan), Public	Provider of software acceleration solutions and cloud services	-	Mirai Creation Fund, SMBC Venture Capital ... & 2 others	56/100
7th	FPT Software 1999, Hanoi (Vietnam), Unfunded	Provider of application development and UI/UX design services	-	-	55/100
8th	Incentro 1996, Utrecht (Netherlands), Unfunded	Developer of custom software platforms for business process automation optimization	-	-	55/100
9th	Sylogist 1993, Calgary (Canada), Public	Limited information available	-	-	55/100
10th	Tset 2017, Kuchl (Austria), Acquired	Provider of software development services	$13.8M	Carbon Removal Partners, Brose & 2 others	55/100
572nd	Neural Magic 2018, Cambridge (United States), Acquired	Provides software development services	$50M	Amdocs, Ridgeline & 5 others	39/100