Signalbase · Jul 2026
Secondary funding roundup confirming the seed round and describing Magnetic as an AI-powered accounting automation company.
Company research
Public company, workplace, funding, and market signals
Updated Jul 29, 2026
Overview
Magnetic is a San Francisco-based AI tax-prep company for CPA firms. It scans messy client documents, reasons over them with an agentic workflow, and enters work directly into existing tax software, with U.S.-based EA/CPA review before delivery. No official GitHub, X, or engineering blog surfaced in the reviewed public sources.
Primary product
Agentic AI 1040 prep platform for CPA firms
Founded
2024
Headquarters
San Francisco, California, United States
Team size
1-10
Work style
Flexible
Industry
Software Development
Sub-industry
AI tax preparation software
Offices
444 8th Street, San Francisco, CA 94103
1160 Mission Street, San Francisco, CA
Business model
B2B SaaS
Managed service
Sales-led software
Funding
People & investors
Work & culture
Small, senior team of tax preparers and AI engineers; accuracy-first, human-plus-AI, and focused on turning detailed review into higher-level review rather than replacing tax professionals.
Work style
Flexible
Visa sponsorship
Limited
Compensation
Public job postings advertise $150K-$250K salary with 0.50%-2.00% equity for Senior Fullstack Software Engineer, $150K-$220K with 1.00%-2.50% equity for Head of Operations, and $90K-$300K with 0.25%-1.00% equity for Founding Account Executive. A tax-expert posting also says 'competitive salary and meaningful equity.'
Benefits
Competitive salary
Meaningful equity
Flexible work setup (remote ok)
Ground-floor role
Direct impact on product and process
Product & market
Pricing
Sales-led custom pricing via demo/contact sales
Differentiators
- —Human-plus-AI workflow
- —U.S.-based EA/CPA review
- —Direct entry into existing tax software
- —Handles messy and complex returns
- —Accuracy guarantee
- —U.S.-only data handling
- —No training on customer data
- —Audit trail on agent actions
- —5-minute setup
Technology
VLMs
OCR
proprietary vision model
computer-use protocol
Microsoft Azure Data Cloud
AES-256 encryption
multi-factor authentication
least-privilege access controls
Apple hardware
legacy tax software integrations
UltraTax
Drake
ProConnect
Lacerte
ProSeries
CCH Axcess
Customers
CPA firms
tax preparation firms
Cornbelt Financial
dozens of firms
leading firms
Competitors
manual tax data entry workflows
expensive outsourcing services
legacy tax software requiring manual entry
incumbent OCR/scanning tools
Scale & contact
Estimated revenue
Hundreds of thousands USD ARR
Latest news
The Accounting VC · Jun 2026
Industry roundup that notes Magnetic's launch, its $5.2M seed round, and the named investors from the raise.
Accounting Today · Jun 2026
Covers the launch of Magnetic's AI tax agent, its accuracy guarantee, U.S.-based EA/CPA review model, and the three-day turnaround claim.
Magnetic LinkedIn · Jun 2026
Official funding announcement for the $5.2M raise; includes named investors and claims of 77% customer time savings.
Jobs and careers at Magnetic
0 jobs at Magnetic
No open positions
Check back later for new openings