About Magnit
Magnit is a company based in Folsom (United States). It operates as a SaaS (Software-as-a-Service), and Managed Services. Magnit has completed 5 acquisitions, including Brainnet, Magnit and PeopleTicker. Magnit offers products and services including Magnit Platform, Managed Service Provider (MSP), Employer of Record (EOR), Vendor Management System (VMS), and Direct Sourcing.
- Headquarter Folsom, United States
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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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Annual Revenue
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Net Profit
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Latest Funding Round
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Investors
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Employee Count
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Investments & Acquisitions
Brainnet
& 4 more
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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. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
An AI-powered platform for workforce management solutions.
Support for navigating contingent workforce management journey.
Services for hiring contingent talent efficiently worldwide.
Platform for visionary management of contingent workforce.
Leverages brand to attract pre-vetted contingent talent.
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Funding Insights of Magnit
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investments & Acquisitions by Magnit
Magnit has strategically engaged in corporate development activities, having acquired 5 companies. Notable acquisitions include Brainnet, Magnit and PeopleTicker. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Provider of talent management services
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2018 | ||||
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Cloud-based HRMS suite platform is provided for human resources management.
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2014 | ||||
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Integrated workforce management platform and solutions are provided.
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1999 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Magnit
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Magnit Comparisons
Competitors of Magnit
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Magnit
Where is Magnit located?
Magnit is headquartered in Folsom, United States. It is registered at Folsom, California, United States.
What does Magnit do?
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 healthcare, technology, and retail, focusing on workforce agility for over 30 years. Comprehensive services are delivered to enhance talent acquisition, diversity, equity, and inclusion.
What products or services does Magnit offer?
Magnit offers Magnit Platform, Managed Service Provider (MSP), Employer of Record (EOR), Vendor Management System (VMS), and Direct Sourcing.
How many acquisitions has Magnit made?
Magnit has made 5 acquisitions, including Brainnet, Magnit, and PeopleTicker.
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