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 can be used to gasoline additional product improvement, improve Magify’s AI performance, and develop into new markets. This follows a current funding by Narwhal Accelerator in June.
Demand for data-driven selections
Many studios at the moment are overwhelmed with quite a lot of duties on high of recreation improvement itself, equivalent to administration, optimization, advertising and marketing 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 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 aren’t at all times environment friendly. Smaller groups can’t afford to construct such instruments from scratch attributable to excessive prices. The shortage of knowledge can result in poor selections and monetary losses—a important concern in at the moment’s market.
Magify’s method
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 gives the chance to grasp the actual potential of a specific recreation, and appropriately use the assets of the sport studio to maximise outcomes.
Magify comprises a strong set of instruments for product, advertising and marketing, 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 information 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 marketing, and performs in-game characteristic 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 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 price 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 information from a broad vary of third-party companies. All information processed with Magify is displayed on handy dashboards and customized studies, making it simple for everybody on the workforce to see all of the related info.
Magify means that you can obtain UA cohort forecasts from varied media sources and advertising and marketing campaigns, whereas the LiveOps options enable for exact and instantaneous administration of assorted elements of recreation design, together with monetization and steadiness. Purchasers can remotely change the frequency of advert placement, the triggers for activation, and configure inside 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 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.”
