Magnetic Analysis
What is Magnetic?
Magnetic is an AI-powered tax preparation platform that automates the data entry process for tax professionals. It utilizes advanced optical character recognition (OCR) combined with AI to accurately extract data from various client documents. This technology significantly reduces the time spent on tax returns, allowing professionals to focus on client relationships and strategic tasks.
Location
San Francisco, United States
Employees
1-10
Industry
SaaS, FinTech, AI/ML
Total Money Raised
$500,000
Product Features & Capabilities
- AI-powered document scanning and data extraction
- Seamless integration with major tax software
- Built-in document organization and bookmarking
- High accuracy with over 94 document types
- Secure cloud file system for document management.
Other Considerations
Backed by Y Combinator; Achieves 99.8% accuracy in data extraction; Handles over 94 different document types.
