Magic lands $27M Series A for its ‘plug and play’ passwordless tech

Magic, a San Francisco-based startup that builds “plug and play” passwordless authentication technology, has raised $27 million in Series A funding. The round, led by Northzone and with participation from Tiger Global, Volt Capital, Digital Currency Group and CoinFund, comes just over a year after Magic launched from stealth, rebranding from its previous name Formatic.  The company, like many others, is on a mission to end traditional password-based authentication.

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