Magnet
Magnet is a non-profit Centre of Innovation at Toronto Metropolitan University that operates an AI-enabled workforce matching platform, labour market information dashboards, and regional convenings (Magnet Network Live, MNLSpotlight) to connect job seekers, employers, governments, and communities across Canada since 2014.
- Company typePrivate
- Founded2014
- HeadquartersToronto, Canada
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Magnet does
Magnet is a non-profit Centre of Innovation housed at Toronto Metropolitan University (TMU), founded in 2014 to address fragmentation in Canada's workforce development ecosystem. Its core products include customizable real-time Labour Market Information (LMI) Dashboards, the MagnetAI generative AI literacy initiative for SMEs (launched 2024), the Magnet Network Live flagship event series with regional MNLSpotlight convenings, the Student Work Placement Program (SWPP), and Community Hubs for localized service delivery. Technology infrastructure is provided by WhoPlusYou Inc., which hosts the platform's landing pages and matching capabilities, while AI is applied primarily to text-based skills matching and to MagnetAI's educational sessions rather than proprietary model development. Magnet serves job seekers (including newcomers, Indigenous workers, persons with disabilities, and mature workers), employers seeking talent, federal and provincial governments, industry associations, and community organizations across Canada. Its revenue model is structured around government-funded programs and institutional support via Toronto Metropolitan University, with Future Skills Centre and provincial partnerships as primary funding channels; pricing is not publicly disclosed, reflecting its non-profit, managed-services delivery model rather than commercial SaaS. Distribution occurs via direct digital platforms (poweredbymagnet.ca), regional MNLSpotlight events, community hubs, and enterprise/government partnerships.
Magnet firmographics
Firmographics- Name
- Magnet
- Legal name
- Magnet Network, Toronto Metropolitan University
- Website
- https://magnetnetwork.ca
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Magnet is a non-profit Centre of Innovation at Toronto Metropolitan University that operates an AI-enabled workforce matching platform, labour market information dashboards, and regional convenings (Magnet Network Live, MNLSpotlight) to connect job seekers, employers, governments, and communities across Canada since 2014.
- Ownership category
- akta.pro rank
Where Magnet is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Magnet business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Government-Funded Programs: As a Centre of Innovation at Toronto Metropolitan University, Magnet receives funding through government partnerships and initiatives like the Future Skills Centre to support workforce development programs across Canada.
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
Magnet product offering
Product offeringCore offering
Magnet is a Centre of Innovation at Toronto Metropolitan University that builds trusted partner networks and advances social innovation with tailored digital solutions for future-of-work challenges. It operates a labour market information technology platform with customizable real-time LMI dashboards, AI-powered tools including MagnetAI for generative AI adoption, and digital matching capabilities that connect job seekers with employers. The organization also delivers workforce development programs, the Student Work Placement Program, Community Hubs, training and consultation services, and convenes stakeholders through the Magnet Network Live event series.
Product overview
Magnet is a Centre of Innovation at Toronto Metropolitan University focused on workforce development and the future of work. The organization operates as a platform-plus-services model, combining its core MagnetAI generative AI initiative with LMI Dashboards for real-time labour market data, the Magnet Network Live event series for convening stakeholders, and the Student Work Placement Program for work-integrated learning. Services include Data & Technology Solutions, Community Hubs, and Incubation & Consultation, all supported by publications and thought leadership content. The platform connects job seekers, employers, and workforce development professionals nationwide since 2014.
Differentiator
Problem solved
Functional benefit
Brands
- MagnetAI: A generative AI solution designed to help businesses navigate the AI revolution and unlock the potential of transformative technology, supporting AI adoption in business communities across Canada.
- Magnet Network Live
- Community Hubs
Products and services
- MagnetAI Generative AI initiative supporting Canadian businesses in adopting AI technology through live engagement sessions and webinar bootcamps, helping SMEs navigate the generative AI revolution and unlock transformative potential.
- LMI Dashboards Customizable, real-time labour market information dashboards that provide timely and relevant LMI in easy-to-digest formats tailored for job seekers, employers, and economic developers, with live data updates as soon as upstream sources refresh.
- Magnet Network Live Flagship event series featuring the MNLShow and MNLSpotlight regional events (Atlantic Canada, Manitoba, Alberta) convening leaders, innovators, and changemakers to explore future-of-work challenges and solutions.
- Student Work Placement Program (SWPP) Work-integrated learning program connecting students with employers to support career prospects and affordability while addressing employer demand for student hiring.
- Data & Technology Solutions Labour market information services and technology solutions providing data-driven insights for workforce development and economic planning.
- Community Hubs Community-based access points connecting talent with opportunities across Canada through regional networks, with localized workforce development services, training, and support for underrepresented populations.
- Incubation, Training & Consultation Project incubation and workforce development consultation services supporting social innovation initiatives, including training programs reaching people in the flow of work.
- Mark Patterson Speaking Engagements Keynote speeches and presentations by CEO Mark Patterson on future-of-work topics, workforce development, and career strategies.
- Work in Manitoba Portal Regional workforce portal developed in partnership with Economic Development Winnipeg, Invest Manitoba, and the Manitoba government, using Magnet's LMI tools to help with recruitment and talent matching in Manitoba.
Quantifiable outcome
- Since 2014, Magnet has collaborated with partners nationwide to support workforce and economic development programs aimed at driving system-level change
- +1 more outcomes
Companies that use Magnet
Customer profileNamed customers7 records
Segments6 records
Ideal customer profiles4 records
Magnet technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature5 records
Magnet partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered flagship, core and regional.
- Dr. Cynthia Holmes / Ted Rogers School of ManagementflagshipDr. Cynthia Holmes, Dean of Canada's largest business school (Ted Rogers School of Management with 12,000+ students), has joined Magnet's Advisory Board to strengthen efforts to help workforce development leaders build strategies for adaptability and readiness amid rapid technological change.
- WhoPlusYou Inc.coreWhoPlusYou Inc. serves as Magnet's technology provider, hosting the platform's Landing Pages where individuals, employers, recruiters, and opportunity holders can sign up for accounts and get matched with jobs and opportunities. WhoPlusYou is identified as an intended third-party beneficiary of the membership agreement.
- Future Skills CentrecoreFuture Skills Centre supports Magnet's initiatives including MagnetAI to assist small and medium businesses navigate the generative AI revolution. The partnership enables delivery of workforce development programs across Canada.
- Toronto Metropolitan UniversitycoreMagnet is housed at Toronto Metropolitan University as a Centre of Innovation. Affiliated with the Ted Rogers School of Management, Canada's largest business school with over 12,000 students. TMU provides academic infrastructure and institutional backing.
- Economic Development WinnipegcoreJoint initiative on the Work in Manitoba portal, combining LMI tools with Magnet's platform to help with recruitment processes. The partnership supports workforce planning and talent matching in Manitoba.
- Government Solutions PartnerscorePartnerships with federal and provincial government departments to deliver workforce development programs, support immigration and settlement, and advance economic development initiatives across Canada.
- Industry Collaboration PartnerscoreCollaborations with industry associations, sector councils, and businesses on workforce development initiatives including skills training, AI adoption support, and sector-specific workforce strategies.
- NL Workforce Innovation CentreregionalCollaboration on workforce innovation initiatives in Newfoundland and Labrador, supporting local coalitions that bring together industry, labour, education, and government.
- Nunacor Development CorporationregionalIndigenous development corporation building models that blend Indigenous, local, and immigrant talent to address labour gaps across multiple sectors in Labrador. Represents innovative approach to inclusive workforce development.
- Manitoba GovernmentcoreCollaboration with Manitoba's economic development strategy including workforce development initiatives, labour market analysis, and regional workforce planning across the province.
- Community PartnerscorePartnerships with community organizations, settlement agencies, Indigenous governments, and local economic development corporations to deliver workforce services to underrepresented populations across Canada.
- Technology and Integration PartnerscoreTechnology partners providing integrations and interoperability for Magnet's platform, including AI capabilities, data analytics, and skills matching tools to enhance workforce development services.
- Hospitality Newfoundland and LabradorregionalAdvancing innovative workforce solutions including proactive workforce action plans, micro credential development, and pilot projects designed for seasonal and rural environments in the tourism sector.
- CERICcoreCERIC leads panel discussions at Magnet Network Live events including 'The Career Code' and 'The Paradox of Talent Creation'. Collaboration elevates career development as a key pillar of future of work conversations.
- Advisory BoardflagshipMagnet's Advisory Board includes distinguished leaders such as Dr. Cynthia Holmes (Dean, Ted Rogers School of Management), Marketa Evans, and Paul Jenkins (former Deputy Governor of Bank of Canada), providing strategic guidance on workforce development.
Scale indicators3 records
Recent moves5 records
Expansion highlights5 records
Magnet competitors and assessment
Company assessmentEmerging players
- Eightfold AI: AI-driven talent intelligence and skills-matching platform used by global enterprises. Comparable to Magnet's AI-enabled skills matching and MagnetAI generative-AI work, but at enterprise scale and with deeper ML investment.
Broad incumbents
- iCIMS: Enterprise talent acquisition platform offering matching, candidate relationship management, and analytics. Competes in the same employer-side talent-matching category that Magnet's platform-plus-services model targets.
- Workopolis: Long-standing Canadian job board and recruitment platform. Targets the same employer and job-seeker segments Magnet serves, but as a commercial incumbent rather than a non-profit convener.
- Job Bank / Guichet-Emplois (Government of Canada): Federal government's official job-matching and labour market information portal. Overlaps directly with Magnet's job-matching and LMI offerings at a national scale, and is the primary public-sector reference point for the same user base.
- LinkedIn (Microsoft): Dominant global professional network with AI-driven job matching, skills insights, and LMI-style analytics. Competes for the same employer, job-seeker, and workforce-intelligence mindshare that Magnet targets, particularly among Canadian SMEs and government partners.
Direct peers
- Riipen: Canadian work-integrated learning platform connecting students with employers via project-based placements. Directly comparable to Magnet's Student Work Placement Program and Canadian higher-education workforce development mandate.
- Lightcast (formerly Burning Glass Technologies / Emsi): Global leader in labour market analytics, skills taxonomy, and workforce intelligence dashboards. Closest direct competitor to Magnet's LMI dashboard and skills-matching capability, though operating at much larger scale and commercial scope.
Others
- CERIC (Canadian Education and Research Institute for Counselling): Canadian non-profit advancing career development research and convening. Documented partner of Magnet (leads Magnet Network Live panels) and an adjacent peer in the career-development and future-of-work conversation space.
- Future Skills Centre / Future Skills Council: Canadian government-funded organization supporting future-of-work research, pilots, and programs. A core funder and program partner of Magnet, and a strategically related peer in shaping Canada's workforce development agenda.
Regional players
- MaRS Discovery District: Toronto-based innovation hub supporting startups, talent, and social innovation. Comparable as a Canadian social-innovation convener affiliated with academic/government partners, though broader in mandate than Magnet's workforce focus.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Magnet social profiles
Digital presenceMagnet financial estimates
Financial estimateRevenue estimate
Valuation estimate
Magnet leadership team
Management profileNumber of profiles
Profiles7 records
Magnet funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Magnet M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Magnet
What does Magnet do?
Magnet is a Centre of Innovation at Toronto Metropolitan University that builds trusted partner networks and advances social innovation with tailored digital solutions for future-of-work challenges. It operates a labour market information technology platform with customizable real-time LMI dashboards, AI-powered tools including MagnetAI for generative AI adoption, and digital matching capabilities that connect job seekers with employers. The organization also delivers workforce development programs, the Student Work Placement Program, Community Hubs, training and consultation services, and convenes stakeholders through the Magnet Network Live event series.
Is Magnet a public or private company?
Magnet is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Magnet founded?
Magnet was founded in 2014. It employs 11 to 50 people.
Where is Magnet based?
Magnet is headquartered in Toronto, Canada, in the North America region.
How does Magnet make money?
One revenue line is on record: government-Funded Programs.
Who are Magnet's main competitors?
Eightfold AI is listed as an emerging player. Broad incumbents are iCIMS, Workopolis, Job Bank / Guichet-Emplois (Government of Canada) and LinkedIn (Microsoft). Direct peers are Riipen and Lightcast (formerly Burning Glass Technologies / Emsi). Others are CERIC (Canadian Education and Research Institute for Counselling) and Future Skills Centre / Future Skills Council. MaRS Discovery District is listed as a regional player.
Does Magnet have an API?
No public API is recorded for Magnet.