About Magnit
Magnit is a Technology company based in Southfield (United States) founded in 2014, and was acquired by PRO Unlimited in March 2022. Cloud-based HRMS suite platform is provided for human resources management. It operates on a SaaS (Software-as-a-Service) and Managed Services model in Technology and Business Services sectors. Its chief executive, as recorded, is Michael Wachholz. 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 and Contingent Workforce Solutions. Its competitors include Workday, Kronos and SuccessFactors; 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, outcome-driven platform. Solutions provided include Managed Service Provider (MSP), Employer of Record (EOR), Vendor Management System (VMS), and Direct Sourcing. Operations span across 130 countries with 20 corporate locations globally. Expertise is applied in sectors like technology, healthcare, and retail, delivering workforce agility for over 30 years. Comprehensive services are designed to enhance talent acquisition, diversity, equity, and inclusion while ensuring compliance and cost efficiency.
- Headquarters Southfield, United States
- Stage Acquired
- SectorsTechnologyBusiness Services
- Email••••••••
- Phone•••• ••••
- Website grimsp.com
- Social LinkedIn X Facebook Instagram YouTube
- Acquired by PRO Unlimited (Mar 2022)
- Legal Name Magnit
- Investors
- Acquired byPRO Unlimited
(Mar 2022)
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 journeys.
Services for hiring contingent talent efficiently and compliantly.
A visionary platform for managing contingent workforce needs.
Leverages brand to attract pre-vetted contingent talent.
Apps and channels of Magnit
its YouTube channel Magnit has 128 subscribers.
Investors in Magnit
Magnit has secured backing from 1 investor. Prominent investors backing the company include Magnit.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Magnit is recognized as a leader in contingent workforce management. | prounlimited.com | Folsom, United States |
Investor details for Magnit
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- Complete investor list
- Round participation
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Verified entity values are shown only after access is granted.
People of Magnit
1 people are tracked at Magnit (1 in leadership).
| Name | Role | Group |
|---|---|---|
Michael Wachholz | CEO | Leadership |
Complete people profiles for Magnit
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
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Timeline of Magnit
2 dated milestones of Magnit across 8 years, from founding to its latest funding, stage changes and deals.
- Founded Magnit is founded.
- Exit Acquired by PRO Unlimited.
Competitors of Magnit
Magnit has 3 listed competitors in our database, 3 of them funded. They include Workday, Kronos and SuccessFactors.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| workday.com | 2005 | Pleasanton, United States | $352.3M | 11,805 | Cloud-based HR and financial software is delivered to enterprises. | |
| kronos.com | 1977 | Lowell, United States | $855M | 86 | HCM software solutions for enterprise workforce management are provided. | |
| successfactors.com | 2001 | San Francisco, United States | $79.84M | 18,910 | Cloud-based human capital management software is delivered globally. |
Detailed competitors of Magnit
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- Full competitor set
- Operating metrics
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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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Frequently Asked Questions about Magnit
Magnit was founded in 2014.
Magnit is headquartered in Southfield, United States. It is registered at Southfield, Michigan, United States.
Michael Wachholz is the CEO of Magnit, as recorded in our data.
Magnit is established as a trusted partner in contingent workforce management, offering an AI-powered, outcome-driven platform. Solutions provided include Managed Service Provider (MSP), Employer of Record (EOR), Vendor Management System (VMS), and Direct Sourcing. Operations span across 130 countries with 20 corporate locations globally. Expertise is applied in sectors like technology, healthcare, and retail, delivering workforce agility for over 30 years. Comprehensive services are designed to enhance talent acquisition, diversity, equity, and inclusion while ensuring compliance and cost efficiency.
Magnit's top competitors include Workday, SuccessFactors and Kronos.
Magnit offers Magnit Platform, Managed Service Provider (MSP), Employer of Record (EOR), Vendor Management System (VMS), and Direct Sourcing.
Magnit has 1 investor. Key investors include Magnit.
Magnit operates through Magnit.
Yes. Magnit was acquired by PRO Unlimited in March 2022.