📝 General magic raises $7.2M

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General Magic is taking aim at the insurance industry’s notorious hold times with an agentic AI platform that enables customers to file claims and verify coverage through dynamic text messaging. Formerly known as OpenSesame, the startup announced a $7.2 million seed round on Tuesday, led by Radical Ventures—with backing from a16z Speedrun and OpenAI’s Larry James Erwin—to scale a "reasoning layer" that interacts with the rigid legacy systems of Fortune 500 insurers. By automating high-friction touchpoints across the full insurance lifecycle, from pre-quote eligibility to complex claims coordination, General Magic claims it can slash corporate call volumes by 30% and recover over 250 hours of productivity per month. Despite the significant capital injection, the six-person team plans to maintain a lean operational structure while expanding its go-to-market efforts to prove that the path to becoming "AI-native" lies in bridging the gap between old data and new intelligence rather than rebuilding entire infrastructures from scratch.

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