About Magnit
Magnit is a Technology company based in Folsom (United States) founded in 1991. Cloud-based vendor management for contingent workforce is provided. It operates on a SaaS (Software-as-a-Service) and Managed Services model. The company has 1,507 employees. Its chief executive, as recorded, is Andy Schultz. Its website magnitglobal.com draws about 238 thousand monthly visits. Its Indian entity Magnit Global India Private Limited reported revenue of ₹674 Cr. Magnit offers products and services including Magnit Platform, Managed Service Provider (MSP), Employer of Record (EOR), Vendor Management System (VMS), and Direct Sourcing. Its focus areas include Workforce Management, Contingent Workforce Solutions, Services and Human Resources. Its competitors include Legion, Harri and Work Market; 3 of its 3 listed competitors have raised funding.
Company details
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.
- Indian entity revenue₹674 Cr
FY 2025 · +4% YoY
- Indian entity net profit₹11.61 Cr
FY 2025 · 2% margin
- Indian entity EBITDA₹26.72 Cr
FY 2025 · 4% margin
- Latest Funding Round$900M (USD), Debt – Conventional
Dec 2021
- Employee Count1,507
Associated legal entities of Magnit
Magnit operates through Magnit Global India Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Magnit Global India Private Limited CIN U93000KA2012FTC063052 | Active | 15 Mar 2012 | Bangalore, Karnataka | ₹674 Cr | 1,507 | 4 | View details |
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.
Apps and channels of Magnit
Magnit publishes 1 mobile app with over 50K+ downloads; its YouTube channel Magnit has 128 subscribers and 30 videos.
Videos from Magnit
The most watched videos on Magnit's YouTube channel, Magnit (128 subscribers). Click a video to play it here.
More on Magnit.
Funding Insights of Magnit
- Total Rounds 2
- Last Round Debt – Conventional — $900M
- First Round $1.16B
(Nov 2021)
All 2 funding rounds of Magnit 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 |
|---|---|---|---|---|---|
| Dec 2021 | $900M | Debt – Conventional | – | – | – |
| Nov 2021 | $1.16B | Debt – Conventional | – | – | – |
Board of directors of Magnit Global India Private Limited (Magnit)
Magnit Global India Private Limited is the primary company behind Magnit. The board of Magnit Global India Private Limited currently have 3 directors; the longest-serving is Bonnie Jane Rhing, appointed in 2023. 8 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Bonnie Jane Rhing DIN 10237133 | Director | 13 Jul 2023 | 3 yrs 3 mo | Magnit Global India Private Limited |
| Martin Schultz DIN 10394876 | Director | 21 Nov 2023 | 2 yrs 11 mo | Magnit Global India Private Limited |
| Jayesh N Kalvinkar DIN 08464045 | Director | 18 Mar 2024 | 2 yrs 7 mo | Magnit Global India Private Limited |
People of Magnit
555 people are tracked at Magnit (74 in leadership, 481 in team); the tracked headcount is 1,507.
| Name | Role | Group |
|---|---|---|
Andy Schultz | CEO | Leadership |
| CEO | Leadership | |
Christopher Dennis | Regional Director, Client Services UKI | Leadership |
Cole Challender | Sr. Director, Client Services | Leadership |
Robert Lucido | Senior Director | Leadership |
Elizabeth Patterson | Director, Global Provisional Support Services | Leadership |
Daniel Timpe | Director Client Services - Services Procurement | Leadership |
Christian Stoddard | Program Director | Leadership |
Johan Svensson | Director, Enterprise Accounts | Leadership |
Anant Raman | Director Of Engineering | Leadership |
Alan Gilchrest | Chief Digital And Technology Officer (cdto) | Leadership |
Frank Goedhart | VP Enterprise Applications | Leadership |
Sharon Leskowski McCarthy | Sr. Director, Technical Client Delivery | Leadership |
John Maciel | CFO | Leadership |
Mital Sanandia | Director, Compliance (rightsourcing) | Leadership |
Joshua Goldner | Vice President, Implementations & Client Solutions | Leadership |
Cathy Coles Fcca | VP Finance, Global Core Accounting | Leadership |
Allyson Lapierre | Director, Client Services | Leadership |
Andrew Zimmerman | Vice President Client Services | Leadership |
Dan Chindemi | Sales Regional Director | Leadership |
535 more people are available in the full profile.
Complete people profiles for Magnit
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Financials of Magnit
Figures of Magnit Global India Private Limited, the primary company behind Magnit, for FY 2025. Revenue was ₹674 Cr (+4% year on year). Net profit was ₹11.61 Cr (2% margin). EBITDA was ₹26.72 Cr (4% margin). Revenue has grown at a compounded annual rate of +19% over three years and +26% over five years.
- ₹674 CrRevenue · FY 2025 · +4% YoY
- ₹11.61 CrNet profit · 2% margin
- ₹26.72 CrEBITDA · 4% margin
- ₹20.22 CrPaid-up capital
- 1,507Employees (provident fund records)
- +19%Revenue CAGR, 3 years
- +26%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Magnit Global India Private Limited are on its company page.
Detailed financial statements for Magnit
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Magnit
3 dated milestones of Magnit across 30 years, from founding to its latest funding, stage changes and deals.
- Founded Magnit is founded.
- Funding First funding round of $1.2B.
- Funding Latest funding round, Debt – Conventional, of $900.0M.
Competitors of Magnit
Magnit has 3 listed competitors in our database, 3 of them funded. They include Legion, Harri and Work Market.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| legion.co | 2016 | San Francisco, United States | $182.5M | 107 | Workforce management solutions are provided through intelligent automation technology. | |
| harri.com | 2012 | New York, United States | $73M | 68 | Recruitment and workforce management are offered for hospitality. | |
| workmarket.com | 2010 | New York, United States | $66M | Freelance management, payments, and reporting are facilitated by AI software. |
Detailed competitors of Magnit
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
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Web traffic of Magnit
The website of Magnit (magnitglobal.com) receives about 237.6K visits a month and ranks #214,896 among all websites worldwide, #3,055 in Jobs and Employment.
- Monthly visits237.6K
▲ 25.7% vs previous month
- Unique visitors65.3K
per month
- Global rank#214,896
among all websites
- Category rank#3,055
Jobs and Career · Jobs and Employment
- Bounce rate48%
- Pages per visit3.5
- Average visit2 min 39 sec
- DevicesDesktop 74% · Mobile 26%
Websites whose visitors overlap most with Magnit. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
jobs.lever.co | jobs.lever.co | 100% | #4,880 | – | |
jobs.smartrecruiters.com | jobs.smartrecruiters.com | 100% | #4,275 | – | |
jobs.jobvite.com | jobs.jobvite.com | 97% | #19,210 | – | |
| indeed.com | 97% | 416.4M | #70 | View details | |
 amazon.jobs | amazon.jobs | 96% | #3,938 | – | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 40 similar websites and full traffic analytics for Magnit
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- 40 similar websites
- Audience overlap
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Top companies in HR & Workforce Technology
3 companies that operate in the same segment as Magnit (HR & Workforce Technology) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Anonymous employee reviews and job search platform are operated. | 2007 | San Francisco, California, United States | USD 201.5 M | 1,695 | ||
Cloud-based LMS platform for IT industry | 2004 | Farmington, Utah, United States | USD 235.41 M | USD 4.95 M | 1,774 | |
Employee health benefits are facilitated via a cloud-based platform. | 2007 | Plymouth Meeting, Pennsylvania, United States | USD 228.3 M |
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Related news about 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 CEO of Magnit, as recorded in our data.
Magnit has 1,507 employees.
The primary company behind Magnit, Magnit Global India Private Limited, reported revenue of ₹674 Cr for FY 2025, up 4% year on year.
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's top competitors include Legion, Harri and Work Market.
Magnit offers Magnit Platform, Managed Service Provider (MSP), Employer of Record (EOR), Vendor Management System (VMS), and Direct Sourcing.
Magnit operates through Magnit Global India Private Limited.
The legal entities of Magnit currently have 4 directors, including Bonnie Jane Rhing, Martin Schultz, Jayesh N Kalvinkar and others.
Yes. Magnit publishes Magnit VMS Mobile, with over 50,000 downloads.
The website of Magnit receives about 238 thousand visits a month and ranks #214,896 among all websites worldwide.