About Magnit
Magnit is a company based in Folsom (United States) founded in 1991. It operates as a SaaS (Software-as-a-Service) and Managed Services. The company has 1,507 employees as of April 07, 2024. Magnit offers products and services including Magnit Platform, Managed Service Provider (MSP), Employer of Record (EOR), Vendor Management System (VMS), and Direct Sourcing. Magnit operates in a competitive market with competitors including Legion, WorkJam, Harri, Work Market and Eden Workplace, among others.
- Headquarter Folsom, United States
- Employees 1507 as on 07 Apr, 2024
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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 Magnit
- Date of Incorporation 15 Mar, 2012
- Jurisdiction Bangaluru, Karnataka, India
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Annual Revenue
$69.67 M (USD)45.16as on Mar 31, 2023
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Net Profit
$1.08 M (USD)1256.02as on Mar 31, 2023
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EBITDA
$1.82 M (USD)1512.84as on Mar 31, 2023
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Latest Funding Round
$900 M (USD), Debt – Conventional
Dec 21, 2021
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Investors
Not available
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Employee Count
1507
as on Apr 07, 2024
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Products & Services of Magnit
Magnit offers a comprehensive portfolio of products and services, including Magnit Platform, Managed Service Provider (MSP), Employer of Record (EOR), Vendor Management System (VMS), and Direct Sourcing.
An AI-powered platform for workforce management solutions.
Support for navigating contingent workforce management journey.
Services for hiring contingent talent efficiently and compliantly.
Platform for visionary management of contingent workforce.
Solution to attract pre-vetted talent using brand.
People of Magnit
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Funding Insights of Magnit
Investments & Acquisitions by Magnit
Investment portfolio details for Magnit
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Financial Statements - Magnit
Detailed financials for Magnit
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Magnit Comparisons
Peer comparison for Magnit
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Competitors of Magnit
Magnit 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 Legion, WorkJam, Harri, Work Market and Eden Workplace, among others.
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Workforce management solutions are provided through intelligent automation technology.
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Hourly workforce schedules and communications are managed via software.
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Recruitment and workforce management are offered for hospitality.
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Freelance management, payments, and reporting are facilitated by AI software.
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SaaS-based workplace management software for offices is delivered.
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Cloud-based HCM software is provided for enterprise HR processes.
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Detailed competitors of Magnit
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Latest news on Magnit
Complete news archive for Magnit
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Frequently Asked Questions about Magnit
Magnit was founded in 1991 and raised its 1st funding round 30 years after it was founded.
Magnit is headquartered in Folsom, United States. It is registered at Folsom, California, United States.
Andy Schultz is the current CEO of Magnit.
As of Apr 07, 2024, the latest employee count at Magnit is 1,507.
Annual revenue of Magnit is $69.67M as on Mar 31, 2023.
Magnit is established as a trusted partner in contingent workforce management, offering an AI-powered integrated platform for over 30 years. Solutions provided include Managed Service Provider (MSP), Employer of Record (EOR), Vendor Management System (VMS), and Direct Sourcing. The company operates across 130 countries with 20 corporate locations, serving over 600 global brands. Focus is placed on workforce agility, diversity, equity, and inclusion, alongside total talent intelligence and shift-based workforce management. Strategic advisory services are also offered to enhance workforce strategies across various sectors.
Magnit offers Magnit Platform, Managed Service Provider (MSP), Employer of Record (EOR), Vendor Management System (VMS), and Direct Sourcing.