About Magnet
Magnet is a Technology company based in Palo Alto (United States) founded in 2008. Enterprise mobile middleware and app store solutions are provided. Magnet has raised $67.61 million across 2 funding rounds from investors including HTC Corporation and Andreessen Horowitz. The company has 14 employees. Its focus areas include Enterprise Infrastructure, PaaS, BaaS and Integrated. Its legal entity is MAGNET SYSTEMS. Its competitors include WaveMaker, Prisma and MobileForce Software; 3 of its 3 listed competitors have raised funding.
Company details
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.
- Headquarters Palo Alto, United States
- Employees 14
- SectorsTechnology
- Website magnet.com
- Social LinkedIn
- Legal Name Magnet Systems
- Total Equity Funding$67.61M (USD)
in 2 rounds
- Latest Funding Round$47.17M (USD), Series B
Aug 2012
- InvestorsHTC Corporation
& 1 more
- Employee Count14
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.
- Total Funding $67.61M
- Total Rounds 2
- Last Round Series B — $47.17M
- First Round $20.44M
(Apr 2011)
- Investors Count 2
All 2 funding rounds of Magnet with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug 2012 | $47.17M | Series B | – | HTC Corporation | – |
| Apr 2011 | $20.44M | Series A | – | a16z | – |
2 investors in total: 2 institutional.
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.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital investments in technology sectors are handled by Andreessen Horowitz. | a16z.com | |||
Brand of VIVE, exodus, and 5G products | 1997 | htc.com | Taipei, Taiwan |
Investor details for Magnet
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
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Timeline of Magnet
3 dated milestones of Magnet across 4 years, from founding to its latest funding, stage changes and deals.
- Founded Magnet is founded.
- Funding First funding round of $20.4M.
- Funding Latest funding round, Series B, of $47.2M.
Competitors of Magnet
Magnet has 3 listed competitors in our database, 3 of them funded. They include WaveMaker, Prisma and MobileForce Software.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| wavemaker.com | 2003 | Mountain View, United States | $8.73M | Web and mobile applications are developed without coding via AI. | ||
| prisma.io | 2016 | San Francisco, United States | $56.5M | 6 | GraphQL-based backend platform is used to build scalable applications. | |
| mobileforcesoftware.com | 2005 | Sunnyvale, United States | $15.38M | 19 | Cloud-based CRM optimization and enterprise mobility solutions are delivered. |
Detailed competitors of Magnet
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
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Web traffic of Magnet
Websites that share an audience with Magnet (magnet.com).
Websites whose visitors overlap most with Magnet. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
frymulti.com | frymulti.com | 100% | – | ||
| instartlogic.com | 96% | View details | |||
| mashable.com | 92% | 14.9M | #5,924 | View details | |
| stackoverflow.com | 64% | 45.7M | #1,565 | View details | |
zhaobao-magnet.com | zhaobao-magnet.com | 58% | #6,801,833 | – | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 12 similar websites and full traffic analytics for Magnet
The complete similar-websites list, audience overlap and engagement analytics require an active premium plan.
- 12 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
Verified entity values are shown only after access is granted.
Top companies in PaaS & SaaS Platforms
3 companies that operate in the same segment as Magnet (PaaS & SaaS Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
A cloud-based database-as-a-service platform is provided for application development. | 2007 | New York, New York, United States | USD 311.32 M | USD 2.46 B | 8,070 | |
Cloud-based identity management solutions are provided for enterprises. | 2002 | Denver, Colorado, United States | USD 136.89 M | USD 36.94 M | 821 | |
Cloud-based software for continuous application development and deployment. | 2013 | San Francisco, California, United States | USD 212 M | 205 |
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Related news about 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. The company's 1st funding round was a Series A of $20.44M, raised on Apr 2011.
Magnet has 14 employees.
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 Prisma, WaveMaker and MobileForce Software.
Magnet has 2 investors. Key investors include HTC Corporation, and Andreessen Horowitz.
Magnet operates through Magnet Systems.