Magify has raised $1.1 million in funding for its enterprise intelligence and dwell 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 development.
The cash from Steam Energy Investments will likely be used to gas additional product growth, improve Magify’s AI performance, and develop into new markets. This follows a latest funding by Narwhal Accelerator in June.
Demand for data-driven selections
Many studios immediately are overwhelmed with a wide range of duties on prime of recreation growth itself, akin to administration, optimization, advertising and consumer engagement, the corporate mentioned.
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Usually, the studios depend on two forms of instruments: analytics (product & efficiency) and LiveOps. Utilizing third-party companies creates information silos: it turns into extraordinarily tough to compile all the information right into a unified image, since completely different groups use completely different analytic instruments.
The choice is to develop custom-made end-to-end recreation efficiency instruments internally, nonetheless solely massive studios can afford to do that, and even these options usually are not all the time environment friendly. Smaller groups can’t afford to construct such instruments from scratch attributable to excessive prices. The shortage of information can result in poor selections and monetary losses—a crucial situation in immediately’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 gives the chance to know the true potential of a selected recreation, and appropriately use the sources of the sport studio to maximise outcomes.
Magify comprises a strong 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 purchasers, the toolset considerably improves monetary planning, will increase the typical income per consumer, reduces UA prices and the time and price of product growth many instances over, tracks the effectiveness of efficiency advertising, and performs in-game function testing.
Magify was based by Evgeniy Kurenkov, who beforehand constructed recreation studio Epic Star Video games and cell app firm Rocket Science. The platform is being developed by Magify’s worldwide group of over 30 staff, primarily builders, information engineers, and configuration managers.
Evgeny Kurenkov, CEO of Magify, mentioned in a press release, “We wish studios of all sizes to have equal alternatives to compete as a result of, in the end, we would like extra nice video games to thrive and succeed. With this funding, we’ll improve our platform to ship much more superior analytics, consumer segmentation, and monetization instruments. It will speed up our growth into world markets, permitting us to assist a broader spectrum of recreation studios, from indie builders to trade giants. We’re not simply constructing a software; we’re creating the spine of the following technology of gaming.”
He mentioned 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 inner software program or combine siloed information from a broad vary of third-party companies. All information processed with Magify is displayed on handy dashboards and customized studies, making it straightforward for everybody on the group to see all of the related data.
Magify lets you obtain UA cohort forecasts from varied media sources and advertising campaigns, whereas the LiveOps options enable for exact and prompt administration of varied features of recreation design, together with monetization and stability. Shoppers can remotely change the frequency of advert placement, the triggers for activation, and configure inner provides 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 trade, beforehand holding the roles of CEO and COO, respectively, at informal video games studio Melsoft, which was acquired by Moon Lively in 2020 throughout their tenure.
“Attaining success in gaming is difficult, however sustaining it’s even tougher. The important thing to success lies in making knowledgeable selections about your viewers’s conduct,” mentioned Steam Energy Investments cofounder Andrei Yarantsau, in a press release. “Over the last decade of growing our personal video games, we made many makes an attempt to seek out ready-made recreation analytics, however we all the time ended up creating customized backend options. In Magify, we lastly discovered an exterior software that not solely meets our necessities however far exceeds them. We see nice alternatives for cooperation between our present and future portfolio firms that develop video games and Magify, which is able to assist them scale back prices and maximize effectivity.”
