+66%

est. 2Y upside i

HealthcareSeries A

Rank

#751

Sector

Healthcare AI Automation

Est. Liquidity

~3Y

Data Quality

Data: Medium

Expected 2-year common-stock upside is ~66% after assumed 20% dilution, driven by a 93% base case.

Last updated: August 3, 2026

Bull (20%)+200%

Bull: Category leadership in healthcare AI agents opens an IPO/acquisition window, allowing a 6.0x forward multiple on $16.6M projected ARR, a $99M exit. After 20% assumed dilution, common upside is ~+200%.

Base (55%)+93%

Base: Exit multiple reverts to the lower end of public comparables (4.0x), producing a $66M exit. After 20% dilution, common upside is ~+93%.

Bear (25%)-100%

Bear: Multiple compresses to 1.5x forward revenue, a $25M exit below the $41M liquidation preference; common stock is worth zero and returns -100%.

Est. time to liquidity~3.0 years

Preference Stack Risk

severe

Funding Intensity

13180%

$41M total funding vs $31.1M current valuation; preferred stack is $9.9M ahead of common at the current mark.

Dilution Risk

high

No financing since Jun 2022; with ~$41M raised and $10.4M revenue, a new round within 24 months is likely, implying 15-25% dilution.

Secondary Liquidity

none

No secondary market activity; the only mark is a 2025 M&A offer, not employee tradability.

Product Management — 3 roles

Sales — 2 roles

Marketing — 1 role

Operations — 1 role

Product Design — 1 role

View all 13 open roles at Magical →

Last updated: February 22, 2026

Questions to Ask at the Interview

Strategic questions based on Magical's data — designed to show you've done your homework.

  • 1

    “What is the current common-stock 409A price relative to the $31.1M M&A offer valuation, and what is the precise liquidation preference stack?”

  • 2

    “How does Magical plan to defend against UiPath and large AI labs entering healthcare workflow automation?”

  • 3

    “What percentage of the $10.4M ARR comes from the legacy text-expansion product versus the new agentic AI workflows, and what is net revenue retention?”

Community

Valuation Sentiment

Our model estimates +66% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.