About Magnet
Magnet is a company based in Palo Alto (United States) founded in 2008. Magnet has raised $67.61 million across 2 funding rounds from investors including HTC Corporation and Andreessen Horowitz. The company has 14 employees as of December 31, 2022. Magnet operates in a competitive market with competitors including WaveMaker, Prisma, MobileForce Software, NovoPayment and Xano, among others.
- Headquarter Palo Alto, United States
- Employees 14 as on 31 Dec, 2022
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Sectors
Technology
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Phone
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Website
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Social
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- Legal Name Magnet Systems
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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Total Equity Funding
$67.61 M (USD)
in 2 rounds
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Latest Funding Round
$47.17 M (USD), Series B
Aug 28, 2012
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Investors
HTC Corporation
& 1 more
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Employee Count
14
as on Dec 31, 2022
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Funding Insights of Magnet
Magnet has successfully raised a total of $67.61M across 2 strategic funding rounds. The most recent funding activity was a Series B round of $47.17 million completed in August 2012. 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.
Investors in Magnet
Magnet has secured backing from 2 investors, including institutional and venture fund investors. Prominent investors backing the company include HTC Corporation and Andreessen Horowitz.
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Venture capital investments in technology sectors are handled by Andreessen Horowitz.
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Brand of VIVE, exodus, and 5G products
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Investor details for Magnet
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Investments & Acquisitions by Magnet
Investment portfolio details for Magnet
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Financial Statements - Magnet
Detailed financials for Magnet
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Magnet Comparisons
Peer comparison for Magnet
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Competitors of Magnet
Magnet operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as WaveMaker, Prisma, MobileForce Software, NovoPayment and Xano, among others.
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Web and mobile applications are developed without coding via AI.
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GraphQL-based backend platform is used to build scalable applications.
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Cloud-based CRM optimization and enterprise mobility solutions are delivered.
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Open banking APIs are offered to banks and businesses.
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Cloud-based backend development platform for applications is offered.
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Provider of a data platform for IoT applications
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Detailed competitors of Magnet
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Latest news on Magnet
Complete news archive for Magnet
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Frequently Asked Questions about Magnet
Magnet was founded in 2008 and raised its 1st funding round 3 years after it was founded.
Magnet is headquartered in Palo Alto, United States. It is registered at Palo Alto, California, United States.
Magnet is a funded company, having raised a total of $67.61M across 2 funding rounds to date.
As of Dec 31, 2022, the latest employee count at Magnet is 14.
Magnet Systems was founded in 2008 in Palo Alto, United States, within the mobile technology sector. Scalable middleware is developed and deployed by the company to support enterprise-grade mobile applications, enabling workflows for development, management, and deployment. An internal AppStore is also maintained for enterprise use. Operations focus on reducing disruption in mobilization efforts across organizations.
Magnet's top competitors include Microshare, Prisma and WaveMaker.
Magnet has 2 investors. Key investors include HTC Corporation, and Andreessen Horowitz.