Magic and Oktopost raises funds

Magic, a decentralized identity authentication platform, raised $27 million in a Series A round. Magic’s aims to build the infrastructure needed to replace password-based Authentication with decentralized identity management. Magic employs a decentralized approach based on key-based encryption.

Oktopost, a B2B social management platform, received a $20 million expansion financing round from Expedition Expansion Capital. The money will be used to accelerate the company’s development pipeline, boost customer happiness, boost marketing and sales, and seek strategic acquisitions.