Magma Art Collaboration Platform Closes $5M Seed Round Led by GFR Fund with Participation from International Game Publisher Bandai Namco Entertainment
Expansion to Art Platform Used by Professional Studios To Reduce Costs and Time by Creating and Collaborating on One Digital Canvas
AUSTIN, Texas, Dec. 12, 2023 /PRNewswire/ -- Magma, a collaborative browser-based art creation and project management platform with more than 2 million users across 100+ countries, has closed a Seed Round of funding. The $5M raise was led by Silicon Valley-based GFR Fund, with contributions from Bandai Namco Entertainment 021 Fund, 4founders, Supernode Global, Gaingels, Anorak Ventures, Acequia Capital and leading industry angels. With the funding, innovative new features will be introduced to Magma's all-in-one art platform that allows art teams to easily exchange ideas on one canvas, and improve output and workflows. The Round is also being used to expand the international team including key hires in operations, business development, and sales. Oli Strong has recently joined as the company's CSO/COO and Heather Shelton was hired as the Commercial Director.
Magma is a cloud-based art collaboration platform that facilitates global creative teamwork. With Magma, teams and stakeholders can connect and collaborate from anywhere, at any time, and on any device. It is the only professional art collaboration and management tool that offers integrated version control, in-app video chat, and generative AI. As a centralized repository for project data, digital artwork, and creative ideas, Magma's live collaborative canvas is ideal for idea development, character design, concept art, storyboarding, art reviews, onboarding and training, brainstorming, and other creative endeavors. Users enjoy complete control over the whole creative process and can leverage in-canvas tools and a management dashboard for streamlined feedback, including rapid preview, edits, storage, and easy access to all team artwork.
"Leading this Seed Round reflects our confidence in Magma as a key player in the creative and collaborative technology ecosystem," said Teppei Tsutsui, General Partner of GFR Fund. "Magma has shown tremendous success already, with its impressive user engagement numbers, and has a leading reputation in the industry. We have been impressed with what the team has achieved to date and are excited to see them execute their vision. We are also optimistic for the way that AI might shape the creation process and expect Magma to influence how it can be carefully adopted."
Launched by 3 founders with start-up backgrounds and supported by an international team, Magma has seen tremendous growth with 20+ million artworks created and 4+ million visits per month. Magma is trusted by industry leaders in animation studios, game development, art studios, leading creative higher education institutions, and more. Magma's partners include Pitch Dev Studios, Virtuos, Wooga, Wacom, Seneca College, and North Carolina State University. Artists have reported remarkable benefits using Magma including:
- 25% reduction in project delivery time
- 32% less time spent in meetings
- 40% fewer revisions per cycle
- 72% increase in employee satisfaction
These benefits not only improve the quality of output and the time it takes to achieve them, but also provide dramatic cost savings.
"As artists and technologists ourselves, we put a lot of emphasis on listening to our community. We have the agility and infrastructure to build and adapt quickly to meet the needs of our users, to become the de facto cloud-based artist collaboration platform," said Damian Kaczmarek, co-founder and CEO of Magma. "Closing this important round of funding will help us get there - not just financially, but through partnership with our targeted investors across various industries. We are fortunate to collaborate with these exceptional partners and are grateful for their support."
Magma offers a range of pricing solutions for artists, including free offerings, collaborative professional packages, and turn-key enterprise programs. Pricing can be found here.
About Magma:
Launched in 2020, Magma is a collaborative canvas built from the ground up for artists. Created by artists for artists, Magma provides real-time creation, collaboration, communication, brainstorming, and sharing, all within a virtual canvas. The platform hosts artists in over 100 countries, with more than 2 million users contributing to the creation of over 20 million artworks. For more information, visit www.magma.com.
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