Magic Labs

Magic Labs

Provides secure, passwordless authentication solutions

About Magic Labs

Simplify's Rating
Why Magic Labs is rated
B
Rated C on Competitive Edge
Rated A on Growth Potential
Rated B on Rating Differentiation

Industries

Consumer Software

Cybersecurity

Company Size

51-200

Company Stage

Early VC

Total Funding

$85M

Headquarters

San Francisco, California

Founded

2020

Overview

Magic Labs provides secure, passwordless authentication solutions for web and mobile applications. Their main product, Magic.link, allows users to log in to various applications using methods like magic links sent via email or SMS, eliminating the need for traditional passwords. This approach not only enhances security by reducing the risk of breaches associated with password systems but also improves user retention by simplifying the login process. Unlike many competitors, Magic Labs operates on a "wallet as a service" model, offering a subscription-based platform that includes features such as continuous risk monitoring and real-time service updates. The company's goal is to enhance user experience and security in the digital identity space, ensuring high availability and reliability of their services.

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Simplify's Take

What believers are saying

  • Integration with Kadena and Tezos enhances Magic Labs' blockchain ecosystem.
  • Newton positions Magic Labs as a leader in blockchain interoperability.
  • Partnership with Polygon Labs could increase adoption of Magic Labs' wallet solutions.

What critics are saying

  • Emerging wallet-as-a-service providers threaten Magic Labs' market share.
  • Rapid blockchain evolution may outpace Magic Labs' current offerings.
  • Potential security vulnerabilities in cross-chain networks like Newton could harm reputation.

What makes Magic Labs unique

  • Magic Labs offers instant non-custodial wallet creation with email or social logins.
  • The company provides a plug-and-play kit for password-less authentication integration.
  • Magic Labs' Newton network enhances blockchain interoperability and cross-chain wallet connections.

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Funding

Total Funding

$85M

Above

Industry Average

Funded Over

3 Rounds

Early VC funding comparison data is currently unavailable. We're working to provide this information soon!
Early VC Funding Comparison
Coming Soon

Benefits

100% remote team

Flexible hours

Unlimited vacation

Health, dental, & vision coverage

Professional growth stipend

Home office stipend

Top-of-the-line equipment

401k

Growth & Insights and Company News

Headcount

6 month growth

-14%

1 year growth

-5%

2 year growth

0%
Decrypt
Mar 18th, 2025
What Is A Multi-Sig Wallet? A Beginner’S Guide

Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENEImagine managing a million-dollar investment fund stored in a cryptocurrency wallet. Everything runs smoothly until a single mistake—clicking a phishing link, visiting a malicious website, or falling victim to an undiscovered exploit—allows hackers to drain the wallet. Just like that, the assets are gone forever.This nightmare scenario has played out in several high-profile crypto thefts, including the Japan-based exchange Coincheck in 2018, the Ronin Network in 2022, and most recently, the Bybit exchange in February 2025. While the causes of these breaches varied—ranging from private key compromises to smart contract exploits—they all underscore the importance of multiple security layers in Web3.One of these protections is the so-called “multi-sig wallet,” which requires more than one person’s signature, via their private key, to authorize a crypto transaction.A cryptocurrency wallet lets users store, send, and receive crypto by managing their private and public keys. When making a transaction, the user, via the wallet, signs it with a private key, proving ownership before broadcasting it to the blockchain for validation

Coin News
Dec 11th, 2024
Magic Labs Expands Ecosystem with Kadena Integration

Magic Labs expands ecosystem with Kadena integration.

Bitcoinist
Nov 11th, 2024
Qubetics Poised to Hit $0.25: How It Compares to Polygon's Latest AggLayer Testnet and Cardano's Price Jump of 33%

Magic Labs, in partnership with Polygon Labs, has launched a private testnet for Newton, a chain unification network designed to streamline blockchain interoperability within Polygon's AggLayer.

LJSB
Nov 9th, 2024
PayPal-backed Magic Labs and Polygon launch a new cross-chain network aiming to bust 'blockchain silos'

Ethereum ETH +3.88%and Magic Labs, a blockchain onboarding startup, announced Thursday that they are launching a new cross-chain network called Newton.

FF News
Nov 8th, 2024
Magic Labs Unveils Newton, The First Chain Unification Network, Connecting Leading Wallet Solutions To The Agglayer

Magic Labs, the leading wallet infrastructure provider, and Polygon Labs, a software development company building the leading network of aggregated blockchains via the AggLayer, have announced a wallet solution and cross-chain smart wallet for the AggLayer through Newton, the first dedicated network for chain unification.Integrated with the AggLayer—a cross-chain settlement solution co-developed by Polygon Labs and its collaborators—Newton enables seamless state and liquidity sharing across multiple blockchains, like how HTML or HTTP introduced standards to create a seamless Internet experience. Magic Labs is known for its technically innovative wallet platform that leads the space in creating the best consumer-first crypto experiences with one-click email logins, including Polymarket, Immutable, Helium, WalletConnect, and many others.Building on the groundbreaking vision of Magic Labs, which invented wallet abstraction in 2018, Newton’s mission is to dismantle blockchain silos, unify liquidity across chains, and prioritize superior developer and user experiences. Built with Polygon CDK, Newton enables developers to build a unified experience across wallet types and chains. Newton gives developers chain-abstracted smart wallets, free tooling, access to global liquidity, and cross-chain launches from a single command line. In short, developers are empowered to “Build once. Be everywhere.”“Chain unification is inevitable—like ACH or SWIFT for crypto,” said Sean Li, co-founder and CEO, Magic Labs

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Ecosystem Growth Lead

$175k - $200k/yr

New York, NY, USA

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Magic Labs is Hiring for 1 Jobs on Simplify!

Find jobs on Simplify and start your career today

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We update Magic Labs's jobs every few hours, so check again soon! Browse all jobs →