Magical forces $35 million to move data between web pages

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Some analysts believe that the market for robotic process automation, which uses AI to automate certain software tasks, is moving towards consolidation. A recent study by Forrester report predicts that this segment will begin to level off as early as 2023 as companies shift to broader automation solutions. There is evidence to support this. UiPath, one of the largest RPA vendors, saw its market cap drop from $35M to $15M in a year. And a number of smaller players, including Signavio, Intellibotas well as Service trace were taken over by incumbent technology firms.

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Headwinds can keep most RPA entrepreneurs from moving forward, but not Harpol Sambhi. He is a co-founder Magican RPA startup designed to move data between websites and web applications with a few keystrokes.

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“Before Magical, I started a company called Career, an HR startup that was acquired by LinkedIn in 2015. Like all founders, I had many hats including sales, recruiting and customer support,” Sambhi told TechCrunch in an email interview. “I found myself bombarded with repetitive tasks such as copying and pasting candidate or prospect information into spreadsheets and databases, writing the same informational message over and over again. When I landed on LinkedIn, I noticed that my peers are also doing the same, whether it’s recruiting, customer support, or corporate development. This gave rise to the idea of ​​Magical.”

Magic

With Magical, users can exchange templates and automations through “magic packs”.

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Together with co-founders Rosie Chopra, Zach Pipmeyer and Prashant Vishwanathan, Sambhi launched Magical in 2020. The company initially focused on messaging, but eventually expanded its focus to transferring data between websites, databases, tables, and forms.

Bye sambhi positions Magical as an RPA platform, it is more like a text expander. Entering a custom abbreviation (e.g. “@name”, “@email”) prompts Magical to insert snippets of text (e.g. “Alex”, “[email protected]”) such as words, emoticons, phrases, paragraphs, blocks of code, or templates. The software, currently only supported by Chrome, detects and “remembers” elements on web pages, allowing the exchange of shortcuts (so-called “magic packs”). with other users and teams.

When asked about data storage, Sambhi said that Magical stores the metadata, but not the underlying data that the platform moves. Keystrokes do not leave the user’s computer.

Label data is stored on our servers in encrypted form. We store labels and label text on our servers in real time and do general backups daily (backups are kept for 14 days),” Sambhi said. “All communication with our servers is encrypted (over HTTPS). Our label database is encrypted and the label text has an extra layer of encryption for even more security and privacy.”

Text expanders are hardly new. But Magical’s cloud- and browser-centric approach has caught the attention of investors like Coatue Management, which led the startup’s $35 million Series A funding round. The round that ended today, bringing Magical’s total raised to $41 million (up from a previously unknown $6 million seed round), also included Greylock, Bain, Lightspeed Capital, SV Angels and Blank Ventures.

Magic

Image Credits: Magic

Sambhi claims that more than 300,000 users and more than 10,000 companies use Magical, including teams from Disney, Facebook, Salesforce and Uber. At the moment, Magical does not charge any fees for its services. But the goal is to introduce paid plans with premium features in the future.

“We view our main competitors as heartbreaking tasks that every knowledge worker performs every day – like typing the same message over and over or copying and pasting data in tabs. We see so many knowledge workers still relying on these outdated manual methods,” Sambhi said. “Leaders value Magical because we improve the performance of the teams they lead. [They] also love us because they can ensure the consistency of information between the spread of the various software as a service tools used and the fact that all teams work with the same information and are on the same page.

Magical plans to use some of the money from Series A to expand its platform beyond Chrome and increase its workforce from 18 to 35 by the end of the year. Support for more desktop and mobile browsers is in development.

Our product will get smarter and more useful over time as we better understand how people do their jobs and what they think about repetition, workflow, and task order. The more we know about what these tasks look like, the smarter we will become,” Sambhi said. “Our next product milestone will enable teams to collaborate and share their automations so that entire departments can maximize time savings.”


Credit: techcrunch.com /

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