Magnit (formerly PRO Unlimited) Strengths, Domain Expertise, and Key Differentiators
Magnit Global’s core strengths lie in its vendor-neutral Managed Service Provider (MSP) and Vendor Management System (VMS) solutions, which empower organizations to manage their contingent workforce effectively. The company’s Wand platform serves as a centralized hub for overseeing temporary workers, independent contractors, statements of work-based engagements, and self-sourced contractors within a cloud-based environment. This platform ensures seamless integration with major ERP/HRMS systems and third-party tools, streamlining workforce management processes. The recent launch of the AI-powered IWM Platform further amplifies Magnit’s strengths, integrating data, sourcing, and intelligence to optimize talent strategies. This platform enables organizations to reduce hiring timelines, optimize spending, and ensure compliance with global labor regulations. Magnit’s commitment to data security, evidenced by over 10 data security certificates, and its participation in the UN Global Compact highlight its dedication to ethical and sustainable business practices. Additionally, Magnit’s recognition in Staffing Industry Analysts’ (SIA) “Managed Service Program (MSP) Global Landscape and Differentiators” report for two consecutive years underscores its industry-leading capabilities.
Magnit (formerly PRO Unlimited) Recent Developments
Magnit Global has made significant strides in enhancing its workforce management solutions. In September 2024, the company launched its AI-powered Integrated Workforce Management (IWM) Platform, a transformative solution that integrates capabilities from recent acquisitions and introduces Maggi, a generative AI companion designed to optimize talent strategies and deliver rapid business outcomes. This platform enables organizations to accelerate hiring processes, optimize contingent workforce spending, and ensure compliance with global labor regulations. The launch reinforces Magnit’s 30-year legacy of innovation, positioning it as a frontrunner in leveraging technology to address modern workforce challenges.
Magnit (formerly PRO Unlimited) Mergers and Acquisitions (M&A) Activities
Magnit's acquisition of Geometric Results in March 2022 marked the integration of an independent outsourced workforce management expert previously owned by funds managed by Bain Capital Private Equity Europe. This strategic move enhances the value of PRO's Integrated Workforce Management (IWM) platform by incorporating Geometric Results' proven Managed Services Program (MSP) capabilities into its comprehensive portfolio, which already includes robust offerings in Software as a Service (SaaS), Talent Intelligence, and Professional Services solutions.
Magnit finalized the acquisition of Workforce Logiq from the private equity firm Carlisle in October 2021.
Magnit successfully acquired WillHire in September 2021, a company based in Austin, Texas, known for its direct-sourcing solutions and talent pool management.
In February 2021, Magnit announced the continued expansion of its global footprint in EMEA with the acquisition of Brainnet Group. Brainnet Group is a purely vendor-neutral Managed Services Provider (MSP) in the Netherlands, providing companies with significant cost savings, process optimization, and high-quality talent across their contingent workforce management programs.
Magnit completed the acquisition of PeopleTicker in January 2021. PeopleTicker, headquartered in Delray Beach, Florida, is recognized for offering data on pay rates, markups, and bill rates for contingent workers. The company's coverage extends to 17 industries across 160 countries.
Magnit (formerly PRO Unlimited) Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Magnit (formerly PRO Unlimited) applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Magnit (formerly PRO Unlimited) and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Magnit VMS customers.
Magnit (formerly PRO Unlimited) Overview
2365 Iron Point Road, Ste 270
Folsom, CA, 95630, United States
1 800-291-1099
https://www.magnitglobal.com/
Ownership: - EQT Private Equity
Number of Employees: 4300
Functional Markets: HCM,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction and Real Estate, CPG, Distribution, Education, Government, Healthcare, Insurance, Leisure and Hospitality, Life Sciences, Manufacturing, Media, Oil Gas Chemicals, Professional Services, Retail, Transportation, Utility,
Magnit (formerly PRO Unlimited) Key Enterprise and Cloud Applications
Magnit VMS
Magnit (formerly PRO Unlimited) Revenues, $M:
| Type/Year | 2023 | 2024 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Magnit (formerly PRO Unlimited) Revenue Breakdown By Type, $M:
Magnit (formerly PRO Unlimited) Enterprise Applications Revenues By Functional Markets, $M:
Magnit (formerly PRO Unlimited) Enterprise Applications Revenues By Verticals, $M:
Magnit (formerly PRO Unlimited) Revenues By Region, $M
| Region | % of Total Revenues | 2024 Total Revenues, $M | 2024 Enterprise Applications Revenues, $M | 2024 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Magnit (formerly PRO Unlimited) Direct vs Indirect sales
| Type | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Magnit (formerly PRO Unlimited) Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Magnit (formerly PRO Unlimited) Customers
No. of Magnit (formerly PRO Unlimited) Customers: 600
No. of Magnit (formerly PRO Unlimited) Enterprise Applications Customers: x
No. of Magnit (formerly PRO Unlimited) Cloud Customers: x
No. of Magnit (formerly PRO Unlimited) Cloud Subscribers: x
Magnit Global serves a diverse and expansive client base, with over 600 companies across 124 countries relying on its workforce management solutions. Its customers include industry leaders such as: Care UK, Novartis, Ceridian, ServiceNow, ConnectiveRX, CenterWell Home Health, Toyota, Durham County Council. These clients span multiple sectors, including healthcare, technology, automotive, and public services, demonstrating Magnit’s versatility and scalability. The company’s ability to tailor its solutions to the unique needs of both small and large enterprises has solidified its reputation as a trusted partner in the contingent workforce management market. Magnit’s global reach and industry-specific expertise enable it to address the diverse workforce challenges faced by its clients.
Magnit (formerly PRO Unlimited) Market Opportunities, M&A and Geo Expansions
Magnit Global is well-positioned to capitalize on several growth opportunities in the contingent workforce management market. The appointment of Teresa Carroll as CEO in May 2023 brings a wealth of experience and strategic vision, particularly in navigating complex workforce challenges during economic uncertainty. Her leadership is expected to drive innovation and expand Magnit’s market presence.
The launch of the DirectSource PRO platform in March 2021, powered by AI through an exclusive partnership with Eightfold AI, has enhanced Magnit’s ability to source top talent from private pools efficiently. This platform streamlines the sourcing process by identifying candidates based on criteria such as diversity, location, and skill requirements, offering a competitive edge in talent acquisition.
Furthermore, Magnit’s collaboration with Tundra in March 2023 to develop a scalable direct-sourcing solution strengthens its ecosystem, enabling organizations to attract and nurture talent more effectively. This partnership aligns with the growing demand for flexible and scalable workforce solutions, positioning Magnit to capture additional market share in the evolving labor market.
Magnit (formerly PRO Unlimited) Risks and Challenges
Despite its advancements, Magnit Global faces challenges in its transformation journey. The company’s goal of transitioning into a software-only enterprise requires significant investment in technology and innovation to ensure its solutions remain competitive. This shift involves re-platforming and modernizing its technology stack, which could strain resources and require careful execution to avoid disruptions. Additionally, Magnit must navigate the complexities of the global labor market, including regulatory changes, economic fluctuations, and talent shortages. The company’s “Summer/Fall 2024 U.S. Labor Market Report” highlighted a surge in demand for professionals skilled in enterprise architecture and compliance frameworks, outpacing supply, which could impact its ability to meet client needs. These external factors pose risks to Magnit’s operations and growth trajectory, necessitating proactive risk management strategies.
Magnit (formerly PRO Unlimited) Ecosystem, Partners, Resellers and SI
Magnit Global has cultivated a robust ecosystem through strategic partnerships that enhance its service offerings and market reach. In March 2023, the company collaborated with Tundra, a provider specializing in direct source curation, to develop a scalable direct-sourcing solution. This partnership empowers organizations to leverage their brand strength to attract and manage talent more efficiently, addressing the growing demand for flexible workforce solutions.
<./br> In February 2022, Magnit partnered with Ceridian, a leading human capital management (HCM) technology provider, to integrate Dayforce Wallet into its Worker Experience solution. This integration allows contingent workers to access their earned pay on demand, improving financial flexibility and satisfaction at no cost to the employer or worker. These partnerships underscore Magnit’s commitment to creating a comprehensive and interconnected ecosystem that enhances the value of its IWM platform.
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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