Magify has raised $1.1 million in funding for its enterprise intelligence and dwell operations (LiveOps) for sport studios.
The Cyprus-based firm’s mission is to democratize entry to high-level end-to-end enterprise intelligence and LiveOps, making them accessible to small and mid-size gaming studios on a pay-as-you-go foundation and fostering their development.
The cash from Steam Energy Investments shall be used to gas additional product growth, improve Magify’s AI performance, and broaden into new markets. This follows a current funding by Narwhal Accelerator in June.
Demand for data-driven selections
Many studios right this moment are overwhelmed with quite a lot of duties on high of sport growth itself, resembling administration, optimization, advertising and consumer engagement, the corporate stated.
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Usually, the studios depend on two sorts of instruments: analytics (product & efficiency) and LiveOps. Utilizing third-party providers creates information silos: it turns into extraordinarily tough to compile all the info right into a unified image, since totally different groups use totally different analytic instruments.
The choice is to develop personalized end-to-end sport efficiency instruments internally, nonetheless solely giant studios can afford to do that, and even these options will not be at all times environment friendly. Smaller groups can’t afford to construct such instruments from scratch as a consequence of excessive prices. The dearth of information can result in poor selections and monetary losses—a crucial subject in right this moment’s market.
Magify’s strategy
Magify addresses this problem by uniting end-to-end enterprise intelligence and LiveOps in a single platform for the primary time ever, on a pay-as-you-go mannequin. By means of its platform, Magify offers the chance to grasp the true potential of a specific sport, and accurately use the sources of the sport studio to maximise outcomes.
Magify comprises a sturdy set of instruments for product, advertising, and monetization analytics, in addition to consumer segmentation, distant monetization setup, LiveOps setup, A/B testing, in-app buy validation, state-of-the-art predictive fashions, and built-in grabbers to gather information from greater than thirty third-party APIs. For Magify’s shoppers, the toolset considerably improves monetary planning, will increase the common income per consumer, reduces UA prices and the time and value of product growth many instances over, tracks the effectiveness of efficiency advertising, and performs in-game characteristic testing.
Magify was based by Evgeniy Kurenkov, who beforehand constructed sport studio Epic Star Video games and cell app firm Rocket Science. The platform is being developed by Magify’s worldwide group of over 30 workers, primarily builders, information engineers, and configuration managers.
Evgeny Kurenkov, CEO of Magify, stated in an announcement, “We want studios of all sizes to have equal opportunities to compete because, ultimately, we want more great games to thrive and succeed. With this investment, we’ll enhance our platform to deliver even more advanced analytics, user segmentation, and monetization tools. This will accelerate our expansion into global markets, allowing us to support a broader spectrum of game studios, from indie developers to industry giants. We’re not just building a tool; we’re creating the backbone of the next generation of gaming.”
He stated Magify brings 10 instances to 30 instances value financial savings on creating in-house BI and LiveOps platforms. The corporate manages this by eliminating the necessity for a devoted group to create and preserve inside software program or combine siloed information from a broad vary of third-party providers. All information processed with Magify is displayed on handy dashboards and customized stories, making it straightforward for everybody on the group to see all of the related info.
Magify lets you obtain UA cohort forecasts from varied media sources and advertising campaigns, whereas the LiveOps options permit for exact and on the spot administration of assorted features of sport design, together with monetization and steadiness. Purchasers can remotely change the frequency of advert placement, the triggers for activation, and configure inside affords on the fly. Moreover, the safety and privateness of information are ensured by AWS infrastructure and encryption.
This imaginative and prescient gained the assist of Steam Energy Investments co-founders Andrei Yarantsau and Alexander Shilyaev. Each are specialists within the gaming business, beforehand holding the roles of CEO and COO, respectively, at informal video games studio Melsoft, which was acquired by Moon Energetic in 2020 throughout their tenure.
“Achieving success in gaming is hard, but maintaining it is even harder. The key to success lies in making informed decisions about your audience’s behavior,” stated Steam Energy Investments cofounder Andrei Yarantsau, in an announcement. “Over the decade of developing our own games, we made many attempts to find ready-made game analytics, but we always ended up creating custom backend solutions. In Magify, we finally found an external tool that not only meets our requirements but far exceeds them. We see great opportunities for cooperation between our current and future portfolio companies that develop games and Magify, which will help them reduce costs and maximize efficiency.”
