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 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 will probably be used to gasoline additional product improvement, improve Magify’s AI performance, and increase into new markets. This follows a current funding by Narwhal Accelerator in June.
Demand for data-driven selections
Many studios as we speak are overwhelmed with a wide range of duties on high of recreation improvement itself, akin to administration, optimization, advertising and person 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 companies creates knowledge silos: it turns into extraordinarily troublesome 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 recreation efficiency instruments internally, nevertheless 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 result of excessive prices. The dearth of knowledge can result in poor selections and monetary losses—a essential problem in as we speak’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. Via its platform, Magify supplies the chance to know the actual potential of a selected recreation, and appropriately use the assets of the sport studio to maximise outcomes.
Magify accommodates a sturdy set of instruments for product, advertising, and monetization analytics, in addition to person 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 person, reduces UA prices and the time and price of product improvement 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 cellular app firm Rocket Science. The platform is being developed by Magify’s worldwide workforce 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 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 workforce to create and keep inside software program or combine siloed knowledge from a broad vary of third-party companies. All knowledge processed with Magify is displayed on handy dashboards and customized experiences, making it straightforward for everybody on the workforce to see all of the related info.
Magify permits you to obtain UA cohort forecasts from varied media sources and advertising campaigns, whereas the LiveOps options enable for exact and immediate administration of varied facets of recreation design, together with monetization and steadiness. Shoppers 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 knowledge are ensured by AWS infrastructure and encryption.
This imaginative and prescient gained the help 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.
“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.”
