Magnetic
About Magnetic
Magnetic is building an AI tax preparer for CPA firms. It launched publicly in 2025 and has raised $5.2 million in funding from top investors; the team is based in San Francisco. Magnetic has ARR in the hundreds of thousands across many dozens of firms. The founders, Thomas (former Head of Product at Keeper, YC W19) and Patrick (the first engineer at FunCraft with experience at Zynga), have collaborated since 2017 and bring experience from Zynga and other tech companies; the founding story centers on a former colleague who owns a tax firm asking them to automate her workload. The mission is to automate tax preparation for CPA firms and improve workflow efficiency, and the company is positioned to capture significant market share in AI tax preparation by offering higher accuracy and better user experience.
Company at a glance
Culture & values
Founders have co-led multiple teams at Zynga as PM & Tech Lead and have worked together since 2017.
The company aims to automate CPA workloads to reduce tedious data entry and busy work.
The founders have demonstrated a willingness to experiment with cutting-edge AI technology, such as early access to OpenAI's LLMs.
