Magnetic YC-Bewerbung

Summer 2025Active

Magnetic durchlief Y Combinator im Summer 2025-Batch als ein B2B-Unternehmen. Unten: Was das Unternehmen tut, wer es gegründet hat und seine Bewerbung bei YC, Frage für Frage im echten YC-Formular rekonstruiert.

YC-Batch: Summer 2025
Branche: B2BProductivity
Teamgröße: 10
Status: Active
Gestartet: 2025

Gründer

Thomas ShelleyFounder
Patrick FayFounder

Was Magnetic tut

Magnetic scans client documents - from handwritten charity notes to excel spreadsheet Schedule Cs to multi-state K-1s - and enters them into tax software automatically, saving hours of tedious data entry. The accounting profession is facing a massive talent shortage, as graduates choose different professions and the old guard begins to retire. As a result, CPA and tax preparation firms are awash in clientele, but unable to keep up. At many firms, phones go unanswered, clients are "fired", and websites are taken down, as the existing workforce tries to handle the grueling 80 hour+ weeks necessary to push through tax season to the April 15th deadline. We built this because a former colleague who owns her own tax firm asked us to automate her workload, and we quickly realized the massive opportunity. Thomas brings deep domain expertise as the former Head of Product at Keeper (YC W19), where he built tax engine automation systems and an OCR form scanning system that outperformed everything else on the market. At Keeper, he leveraged early access to OpenAI's LLMs (well before ChatGPT) to build systems that automated the entire tax filing process, allowing a tiny team of CPAs to process thousands of returns with near zero busy work. Patrick was the first engineer at FunCraft, shipping multiple mobile games with 1M+ downloads and building scalable shared codebases. We've worked together since 2017, including co-leading multiple teams at Zynga as PM & Tech Lead respectively. The opportunity is massive - there are 80M US personal tax returns filed via professionals annually, in a $2B outsourcing market where individual CPA firms currently pay $100k-$1M per year for inferior services. We're positioned to capture significant market share by offering better accuracy & document coverage, instant processing, and superior user experience. We've built this kind of software before, we've worked together for years (and even lived together), we've built products to $10M ARR before, and we have the grit to outwork anyone in this space.

Magnetics YC-Bewerbung, rekonstruiert

Y Combinator Bewerbung

Magnetic, Summer 2025 Batch. Die echten Fragen des Antrags, beantwortet aus öffentlichen Daten.

Founders2
Company7
Progress7
Idea4
Equity3
Curious2
Batch Preference1

Company

Company name

Magnetic

Describe what your company does in 50 characters or less.

AI Tax Preparer for CPA firms

What is your company going to make? Please describe your product and what it does or will do.

We built software that scans all kinds of tax client documents - from handwritten charity notes to complex multi-state K-1s - and automatically enters the data into tax software. This saves CPA firms hours of manual data entry during tax season.

Where do you live now, and where would the company be based after YC?

We live in San Francisco, CA, and plan to base the company here after YC.

Explain your decision regarding location.

San Francisco is where the team already lives and where we have relevant industry contacts. It's also a hub for AI and productivity startups.

21 weitere Antworten in der vollständigen Bewerbung

Founders, Progress, Idea, Equity, Curious, Batch Preference sind in der Vollversion. Erstelle ein kostenloses Konto, um es in YC Insights neben jedem anderen YC-Batch zu öffnen.

Vollständige Bewerbung anzeigen

Häufig gestellte Fragen

Ist das die echte YC-Bewerbung von Magnetic?

Nein. Y Combinator hält eingereichte Bewerbungen privat. Dies ist eine Rekonstruktion: die echten Fragen des YC-Formulars, beantwortet aus den öffentlichen Daten von Magnetic (Veröffentlichungsnotizen, Gründerhintergründe, Produktbeschreibung). Sie zeigt, wie sich ein Unternehmen wie Magnetic bei YC präsentieren würde, nicht den Text, den sie eingereicht haben.

In welchem YC-Batch war Magnetic?

Magnetic war Teil des Y Combinator Summer 2025-Batches.

Wer hat Magnetic gegründet?

Magnetic wurde von Thomas Shelley, Patrick Fay gegründet.

Was macht Magnetic?

AI Tax Preparer for CPA firms

Wie lese ich die vollständige, rekonstruierte Bewerbung?

Erstelle ein kostenloses Round Funded Konto. Die vollständige 26-Antwort-Version der Bewerbung von Magnetic, und jede andere YC-Kohorte, findest du in YC Insights.