Magify has raised $1.1 million in funding for its enterprise intelligence and reside operations (LiveOps) for recreation studios.
The Cyprus-based firm’s mission is to democratize entry to high-level end-to-end enterprise intelligence and LiveOps, making them obtainable to small and mid-size gaming studios on a pay-as-you-go foundation and fostering their progress.
The cash from Steam Energy Investments can 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 choices
Many studios in the present day are overwhelmed with quite a lot of duties on prime of recreation growth itself, comparable to administration, optimization, advertising and marketing and consumer engagement, the corporate stated.
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Usually, the studios depend on two varieties of instruments: analytics (product & efficiency) and LiveOps. Utilizing third-party providers creates knowledge silos: it turns into extraordinarily tough to compile all the information right into a unified image, since totally different groups use totally different analytic instruments.
The choice is to develop personalized end-to-end recreation efficiency instruments internally, nevertheless solely giant studios can afford to do that, and even these options are usually not all the time environment friendly. Smaller groups can’t afford to construct such instruments from scratch as a consequence of excessive prices. The shortage of knowledge can result in poor choices and monetary losses—a vital situation in in the present day’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 its platform, Magify offers the chance to grasp the actual potential of a selected recreation, and accurately use the sources of the sport studio to maximise outcomes.
Magify comprises a sturdy set of instruments for product, advertising and marketing, 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 knowledge 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 occasions over, tracks the effectiveness of efficiency advertising and marketing, and performs in-game function testing.
Magify was based by Evgeniy Kurenkov, who beforehand constructed recreation studio Epic Star Video games and cellular app firm Rocket Science. The platform is being developed by Magify’s worldwide group of over 30 staff, primarily builders, knowledge 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 occasions to 30 occasions price 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 inner software program or combine siloed knowledge from a broad vary of third-party providers. All knowledge processed with Magify is displayed on handy dashboards and customized experiences, making it straightforward for everybody on the group to see all of the related data.
Magify means that you can obtain UA cohort forecasts from varied media sources and advertising and marketing campaigns, whereas the LiveOps options permit for exact and on the spot administration of assorted points of recreation design, together with monetization and stability. Purchasers can remotely change the frequency of advert placement, the triggers for activation, and configure inner presents on the fly. Moreover, the safety and privateness of knowledge 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 consultants 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.”
