About Magnit
Magnit is a company based in Southfield (United States) founded in 2014 was acquired by PRO Unlimited in March 2022. It operates as a SaaS (Software-as-a-Service) and Managed Services. 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 Workday, Kronos, SuccessFactors, Justworks and Sage Group, among others.
- Headquarter Southfield, United States
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Sectors
TechnologyBusiness Services
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Email
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Phone
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Website
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Social
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- Legal Name Magnit
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
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Employee Count
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Acquired by
PRO Unlimited
(Mar 29, 2022)
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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 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.
Funding Insights of Magnit
Detailed funding history for Magnit
Round names, dates, amounts, investors, and valuation history require an active premium plan.
- Round names and dates
- Funding amounts
- Participating investors
- Valuation history
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Investors in Magnit
Magnit has secured backing from 1 investor. Prominent investors backing the company include Magnit.
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Magnit is recognized as a leader in contingent workforce management.
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Investor details for Magnit
Investor domains, locations, round participation, and complete history require an active premium plan.
- Investor domains
- Investor locations
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- Participation history
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Investments & Acquisitions by Magnit
Investment portfolio details for Magnit
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- Portfolio identities
- Transaction dates
- Round details
- Investment values
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Financial Statements - Magnit
Detailed financials for Magnit
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- Historical revenue
- Profit trends
- Statement rows
- Financial ratios
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Magnit Comparisons
Peer comparison for Magnit
Named peer metrics, headcount, funding, location, and side-by-side benchmarks require an active premium plan.
- Named peers
- Headcount comparison
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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 Workday, Kronos, SuccessFactors, Justworks and Sage Group, among others.
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Cloud-based HR and financial software is delivered to enterprises.
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HCM software solutions for enterprise workforce management are provided.
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Cloud-based human capital management software is delivered globally.
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Benefits administration and payroll management are provided for businesses.
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Cloud-based accounting and payroll solutions for small and medium businesses
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Cloud-based payroll and HR solutions are provided for businesses.
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Detailed competitors of Magnit
Competitor domains, locations, full profiles, and operating metrics require an active premium plan.
- Domains and locations
- Full company profiles
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- Competitive positioning
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Latest news on Magnit
Complete news archive for Magnit
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- Full article archive
- Source and publication date
- Older coverage
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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 current CEO of Magnit.
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 Sage Group.
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.