Magneto Raises $7 Million in Seed Round
Magneto, a Medellín, Colombia-based company specializing in AI-driven talent selection and mobility, raised $7 million in a seed round.
The investment was from Alive Ventures, Pashin, Impact Ventures PSM, and Latin Leap.
The company will use the funds to accelerate its growth trajectory, expand its client base to over 20,000 businesses across Colombia, Mexico, Peru, and the United States, and further enhance its cutting-edge technology platform.
Founded by Alejandro Arango and Pablo Arango, Magneto Global is a SaaS company specializing in harnessing artificial intelligence (AI) for the digital selection, evaluation, and mobility of human talent. Magneto's platform is designed to streamline talent processes for businesses across Latin America, allowing them to conduct real-time recruitment, evaluation, and selection of personnel while achieving significant cost savings and operational efficiencies. Magneto's clients include Starbucks, Coca-Cola, Sura, Nutresa, Grupo Éxito, and Alkosto, among others, with a portfolio of over 2,500 clients.
Funding Details
Company: Magneto Global SAS
Raised: $7.0M
Round: Seed Round
Funding Month: May 2024
Investors: Alive Ventures, Pashin, Impact Ventures PSM, Latin Leap
Company Website: https://www.magneto365.com/
Software Category: Talent Selection and Mobility