New updates have been reported about Magic (PC:MAGIQ)
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Magic, a New York-based company specializing in AI-driven real-world experiences, has successfully raised $10 million in seed funding, spearheaded by venture capital firm Lerer Hippeau. The funding round also saw participation from Bling Capital, Floodgate, and strategic partners such as Major Food Group and VCR Group. This financial boost comes as Magic steps out of stealth mode, unveiling its flagship product, Loyalist, an innovative CRM platform designed to enhance personalized hospitality experiences across the service industry.
Loyalist integrates seamlessly with existing restaurant technologies, offering a comprehensive solution that combines reservations, point-of-sale systems, and social media into a unified CRM platform. This enables operators to deliver tailored guest experiences by leveraging data-driven insights, such as remembering customer preferences or sending personalized event invitations. Already adopted by notable establishments like Major Food Group and Momofuku, Loyalist facilitates tens of millions of guest interactions annually, representing over $2 billion in guest spending. With revenue growing tenfold in the past year, Magic plans to utilize the new funding to expand its team and develop additional AI-powered solutions for various hospitality sectors, including hotels and retail. CEO Maggie Tang highlights the company’s mission to transform generic service experiences into personalized interactions, emphasizing the potential of AI to enhance human connections in an increasingly digital world.