Magentic raises $18m Series A to expand AI agents across procurement and supply chains
The funding will accelerate the company’s agent roadmap and deepen coverage of complex purchasing workflows for global manufacturers.
Agents for industrial purchasing work
Magentic places AI agents inside manufacturers’ existing systems to handle procurement work, from supplier sourcing and purchasing through supplier management and contract workflows. The agents are designed to execute multi-step tasks across direct and indirect spend while keeping activity within a company’s processes.
Magentic raised an $18m Series A led by Sequoia Capital, with Felicis Ventures and The Westly Group participating. The company plans to accelerate its AI-agent roadmap, extend coverage across procurement and supply-chain workflows, and deepen research on complex optimization problems in those operations.
The focus is operational work for global manufacturers: coordinating suppliers and purchases requires decisions across systems, categories and constraints. Magentic says enterprise customers are already using its agents, giving the company a deployed base as it expands beyond its initial workflows.
Use of funds
Accelerate the AI-agent roadmap
Extend coverage across procurement and supply-chain workflows
Deepen research on complex optimization problems in procurement and supply chains