Candidature YC de Magnetic

Summer 2025Active

Magnetic a été sélectionné par Y Combinator dans le cadre du batch Summer 2025 en tant qu'entreprise B2B. Ci-dessous : ce que fait l'entreprise, qui l'a fondée, et sa candidature à YC, reconstruite question par question dans le vrai formulaire YC.

Batch YC: Summer 2025
Secteur d'activité: B2BProductivity
Taille de l'équipe: 10
Statut: Active
Lancé: 2025

Fondateurs

Thomas ShelleyFounder
Patrick FayFounder

Ce que fait Magnetic

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.

Candidature YC de Magnetic, reconstruite

Candidature Y Combinator

Magnetic, promotion Summer 2025. Les vraies questions de candidature, répondues à partir de données publiques.

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 réponses supplémentaires dans la candidature complète

se trouvent dans la version complète. Créez un compte gratuit pour l'ouvrir dans YC Insights, à côté de tous les autres batches YC.

Voir la candidature complète

Questions fréquemment posées

Est-ce la vraie candidature YC de Magnetic ?

Non. Y Combinator garde les candidatures soumises privées. Ceci est une reconstruction : les vraies questions du formulaire YC, répondues à partir des données publiques de Magnetic (notes de lancement, parcours des fondateurs, description du produit). Cela montre comment une entreprise comme Magnetic se présenterait à YC, pas le texte qu'ils ont soumis.

À quel batch YC Magnetic appartenait-il ?

Magnetic faisait partie du batch Summer 2025 de Y Combinator.

Qui a fondé Magnetic ?

Magnetic a été fondé par Thomas Shelley, Patrick Fay.

Que fait Magnetic ?

AI Tax Preparer for CPA firms

Comment lire la candidature complète reconstruite ?

Créez un compte Round Funded gratuit. La version complète de la candidature de Magnetic en 26 réponses, et de chaque autre promotion YC, se trouve dans YC Insights.