Magentic raises $18M to expand AI agents for industrial procurement
Felicis led the Series A for the Oxford founders' digital workers, a year after Sequoia backed Magentic's $5.5M seed.
By RuntimeWire Staff · Published
Primary source: PR Newswire
Why it matters
Magentic is targeting one of enterprise AI's clearest business cases: finding and recovering procurement leakage. The harder task is earning permission for agents to act inside contracts, orders and invoices.
Robin Van Aeken and Odhran O'Donoghue announced an $18M Series A for Magentic on September 17th, giving the Oxford founders fresh capital to put AI agents inside the procurement systems of large manufacturers.…
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