Magic, a provider of AI-driven solution for restaurants, has secured $10m in seed funding to develop additional products.
The financing round was spearheaded by venture capital company Lerer Hippeau.
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The round also included investments from Bling Capital, Floodgate and strategic investors such as the Major Food Group and the VCR Group – a hospitality company associated with Gary Vaynerchuk and David Rodolitz.
Magic will use the latest infusion to develop AI tools for hospitality verticals, encompassing hotels, retail, real estate and wellness.
It intends to deploy the new capital to grow its team.
Magic’s initial solution, Loyalist, consolidates guest information from reservations, point-of-sale systems, private event platforms and social media into a single, real-time customer relationship management.
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By GlobalDataThe platform records dining preferences and order histories and support marketing, review management and reporting.
Loyalist is already in use at establishments such as Major Food Group, Momofuku, Le Bernardin, COTE and the Dinex Group.
Magic founder and CEO Maggie Tang stated: “Every aspect of our digital lives has been personalised by AI, from how we shop to [how we] consume content, but when you walk into a restaurant, hotel, a retail store, the experiences still feel generic.
“The next chapter of AI will happen beyond the chat window – in the real world.”
Lerer Hippeau managing partner Ben Lerer stated: “Maggie’s been working in restaurant operations since she was a teenager, and brings a rare combination of product depth and hospitality intuition and taste.
“Now, she’s using AI to take the friction out of the work so the human side can shine. The tech is finally ready to make that promise real for one of the world’s biggest (and most analogue) industries.”
