About Magnet 360
Magnet 360 is a company based in Minneapolis (United States) founded in 2008 was acquired by Mindtree in January 2016.. Magnet 360 has raised $5.73 million across 3 funding rounds from investors including Mindtree, StarTec Investments and Salesforce Ventures. The company has 169 employees as of December 31, 2022. Magnet 360 has completed 1 acquisition, including Reside.
- Headquarter Minneapolis, United States
- Employees 169 as on 31 Dec, 2022
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Funding Insights of Magnet 360
Magnet 360 has successfully raised a total of $5.73M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $1.6 million completed in March 2013. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series A — $1.6M
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First Round
First Round
(01 Jun 2008)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Mar, 2013 | Amount | Series A - Magnet 360 | Valuation | StarTec Investments , Salesforce Ventures |
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| Apr, 2009 | Amount | Series A - Magnet 360 | Valuation |
investors |
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| Jun, 2008 | Amount | Series A - Magnet 360 | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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Investors in Magnet 360
Magnet 360 has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include Mindtree, StarTec Investments and Salesforce Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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A private venture capital firm based in Minneapolis, USA.
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Founded Year | Domain | Location | |
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Early-stage tech startups are funded by corporate-backed Salesforce Ventures.
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Founded Year | Domain | Location | |
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Outsourcing solutions in IT, engineering, and consulting are delivered.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Magnet 360
Magnet 360 has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Reside. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Cloud computing, integration development, and IT consulting services are provided.
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2001 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Magnet 360
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Magnet 360 Comparisons
Competitors of Magnet 360
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Magnet 360
Frequently Asked Questions about Magnet 360
When was Magnet 360 founded?
Magnet 360 was founded in 2008.
Where is Magnet 360 located?
Magnet 360 is headquartered in Minneapolis, United States. It is registered at Minneapolis, Minnesota, United States.
Is Magnet 360 a funded company?
Magnet 360 is a funded company, having raised a total of $5.73M across 3 funding rounds to date. The company's 1st funding round was a Series A of $3M, raised on Jun 01, 2008.
How many employees does Magnet 360 have?
As of Dec 31, 2022, the latest employee count at Magnet 360 is 169.
What does Magnet 360 do?
Magnet 360 was founded in 2008 and is headquartered in Minneapolis, United States. Operations focus on the Salesforce ecosystem, where consulting and implementation services are delivered for CRM, branded sites, communities, social campaign management, and marketing automation. Work is conducted with major global companies. Revenue exceeded 25 million USD in 2015-16, supported by investments from Salesforce Ventures, Gage Group, and StarTec Investments.
How many acquisitions has Magnet 360 made?
Magnet 360 has made 1 acquisition, including Reside.
Who are Magnet 360's investors?
Magnet 360 has 3 investors. Key investors include Mindtree, StarTec Investments, and Salesforce Ventures.