Magify, a Cyprus-based tech company, has recently secured €1 million in funding to further develop its innovative Business Intelligence and LiveOps platform aimed at game developers. The investment, provided by Steam Power Investments, follows an earlier funding round from Narwhal Accelerator in June. This newly acquired capital will be pivotal in advancing Magify’s product features, expanding its AI capabilities, and penetrating new markets. With these developments, Magify seeks to meet the growing demands for data-driven decision-making tools in the competitive realm of mobile gaming.
Industry Trends Driving Demand
Data-Driven Decision-Making in Mobile Gaming
The mobile gaming industry has seen a significant shift towards data-driven decision-making, with game studios heavily relying on analytics to optimize their user acquisition, retention, and monetization strategies. As game design and marketing become increasingly elaborate, standalone analytics platforms have emerged as essential tools for capturing and analyzing user behavior. These platforms enable game developers to make well-informed decisions that can enhance gameplay experiences and boost revenue streams. However, many existing solutions only address specific elements of game management, such as marketing or in-game engagement, leaving critical gaps that need to be filled for a holistic approach.
Magify addresses these gaps by offering a unified platform that integrates both Business Intelligence and LiveOps tools, thus providing a comprehensive solution for game developers. This integrated approach allows studios to manage various aspects of game development and marketing in a seamless manner. As a result, game developers can focus on creating engaging content while relying on accurate, data-driven insights to steer their projects toward success. This shift towards comprehensive analytics is a direct response to the complex and ever-evolving nature of the mobile gaming landscape, where quick, informed decisions are a key differentiator between success and failure.
Efficiency and Scalability Needs
In the fiercely competitive world of mobile gaming, game studios are constantly seeking ways to improve operational efficiency while reducing costs. Building in-house systems for analytics and LiveOps can be both expensive and time-consuming, often requiring specialized skills and resources that smaller studios may not possess. This is where external solutions like Magify’s platform come into play. By offering a comprehensive, out-of-the-box solution, Magify enables studios to streamline their processes, cut down on overhead costs, and focus their efforts on innovation and creativity.
Magify’s platform is designed to be scalable, making it suitable for game studios of all sizes, from indie developers to industry giants. The scalability of the platform ensures that as a studio grows and its needs evolve, Magify can continue to support its operations without requiring significant additional investment. This flexibility is particularly beneficial for smaller studios that need to be agile and responsive to changes in the market. By providing a cost-effective and efficient solution, Magify empowers these studios to compete on a level playing field with larger, more established companies.
Magify’s Comprehensive Solution
Integrating Business Intelligence and LiveOps
Unlike other analytics platforms that address only particular segments of game management, Magify stands out by offering a comprehensive solution that integrates Business Intelligence and LiveOps tools. This unified approach allows game studios to make informed decisions based on holistic data insights. The integration of these two critical components provides a seamless experience for game developers, from tracking marketing campaigns and running in-game tests to managing monetization strategies. This all-in-one platform ensures that studios have access to all the tools they need to optimize their games and maximize their success.
The benefits of integrating Business Intelligence and LiveOps are manifold. By combining these tools, Magify enables studios to not only analyze data but also act on it in real-time. For example, a studio can use Business Intelligence to identify the most effective marketing channels for acquiring new users, while LiveOps tools can be used to engage and retain these users through targeted in-game events and promotions. This holistic approach ensures that all aspects of the game lifecycle are addressed, from initial user acquisition to long-term retention and monetization, ultimately leading to better financial outcomes and more sustainable growth.
User-Friendly Dashboard for All Team Members
A standout feature of Magify’s platform is its user-friendly dashboard, designed to present vital data in an accessible manner to everyone on the team, from executives to game designers. The dashboard’s intuitive design ensures that critical information is readily available and easy to understand, enabling all team members to make data-driven decisions that contribute to the studio’s success. By democratizing access to important analytics, Magify fosters a more collaborative and efficient work environment, where every team member can leverage data insights to enhance their contributions.
This accessibility is particularly important in the fast-paced world of game development, where quick, informed decisions can make a significant difference in the success of a game. With Magify’s dashboard, team members can quickly identify trends, track performance metrics, and adjust strategies in real-time. This level of insight and responsiveness is crucial for staying ahead of the competition and ensuring that games meet the high expectations of today’s players. By making data accessible to all team members, Magify helps studios create a more cohesive and effective workflow, ultimately leading to better game performance and greater success in the market.
Leadership and Vision
Founder Evgeniy Kurenkov’s Background
Magify is led by founder Evgeniy Kurenkov, who previously established the game studio Epic Star Games. Kurenkov’s extensive experience in game development provides him with unique insights into the industry’s challenges and needs. His vision for Magify is to level the playing field for game developers, enabling both indie developers and industry giants to compete effectively. Drawing from his background, Kurenkov understands the importance of having robust analytics tools that can provide comprehensive insights and drive informed decision-making. This vision is at the core of Magify’s mission to empower game studios with the tools they need to succeed.
Kurenkov’s experience in the gaming industry has also shaped his understanding of the specific pain points that developers face. From managing user acquisition and retention to optimizing monetization strategies, he recognizes the critical role that data plays in addressing these challenges. Under his leadership, Magify has been developed to address these needs comprehensively, offering a solution that goes beyond traditional analytics platforms. Kurenkov’s hands-on experience and deep industry knowledge have been instrumental in shaping Magify’s innovative approach to game development analytics.
Support from Industry Veterans
The investment from Steam Power Investments, whose co-founders Andrei Yarantsau and Alexander Shilyaev bring years of experience, underscores the platform’s potential to revolutionize game development analytics. Yarantsau and Shilyaev, former CEO and COO of casual games studio Melsoft, recognize the importance of data-driven decision-making and are confident in Magify’s ability to meet these needs. Their expertise in the gaming industry and their experience in leading successful game studios add significant value to Magify’s growth and development, providing both strategic guidance and financial support.
Yarantsau emphasizes the importance of making informed decisions based on audience behavior, noting that Magify meets and exceeds the requirements that many game developers have sought in analytics tools. He acknowledges the challenges of finding ready-made game analytics and expresses confidence in Magify’s potential to reduce costs and maximize efficiency for game developers. This endorsement from seasoned industry veterans not only validates Magify’s approach but also provides a strong foundation for its continued success and expansion in the competitive gaming market.
Strategic Goals and Future Development
Enhancing AI Capabilities
One of the primary goals for the newly secured funding is to enhance Magify’s AI capabilities. By integrating advanced AI features, Magify aims to offer more predictive and prescriptive insights, allowing game studios to anticipate user behavior and optimize their strategies proactively. This focus on AI will help studios stay ahead in the competitive gaming market by providing actionable insights that can drive decision-making and improve overall game performance. The incorporation of AI technology is expected to elevate Magify’s platform, making it even more valuable for game developers seeking to gain a competitive edge.
The development of AI capabilities will also enable Magify to offer more customized and tailored solutions for game studios. For instance, predictive analytics can help studios identify potential churn risks and take preemptive actions to retain players. Similarly, prescriptive analytics can provide recommendations for optimizing game features and monetization strategies based on real-time data. By leveraging AI, Magify can deliver deeper insights and more precise recommendations, ultimately helping game studios to maximize their revenue and enhance player engagement. This strategic focus on AI underscores Magify’s commitment to innovation and its vision of providing cutting-edge tools for the gaming industry.
Expanding into New Markets
Magify is also focused on expanding into new markets, aiming to bring its platform to a broader range of game studios around the world. The additional funding will facilitate this expansion, enabling the company to introduce its platform to diverse gaming communities and foster innovation across different regions. By reaching new markets, Magify hopes to support a wider array of game developers, from indie studios to large-scale enterprises, helping them to leverage data-driven insights for improved game development and marketing strategies. This global expansion is a key part of Magify’s strategic plan to position itself as a leading provider of analytics tools in the gaming industry.
The expansion into new markets also presents opportunities for Magify to establish partnerships and collaborations with key players in the gaming ecosystem. By building a strong presence in various regions, Magify can tap into local expertise and insights, further enhancing its platform to meet the specific needs of different markets. This global reach will not only boost Magify’s growth but also contribute to the overall advancement of the gaming industry by promoting the adoption of data-driven practices. With a focus on international expansion, Magify is poised to become a pivotal player in the global gaming market, driving innovation and excellence in game development.
Comprehensive Features for Game Studios
Tracking Marketing Campaigns
Magify’s platform includes robust tools for tracking marketing campaigns, enabling game studios to monitor the effectiveness of their marketing efforts in real-time. These tools allow studios to track key performance indicators, such as user acquisition costs, conversion rates, and engagement metrics, providing valuable insights into the success of their marketing strategies. By understanding which campaigns yield the best results, game developers can allocate their budgets more efficiently and maximize their return on investment. This level of insight is crucial for optimizing marketing efforts and ensuring that resources are directed towards the most impactful initiatives.
The ability to track marketing campaigns in real-time also allows game studios to make quick adjustments based on performance data. For example, if a particular campaign is underperforming, studios can promptly modify their approach or reallocate resources to more successful campaigns. This agility is essential in the fast-paced gaming industry, where market dynamics can change rapidly, and staying ahead of trends is vital for success. Magify’s marketing tracking tools provide the data and flexibility that game studios need to remain competitive and responsive to emerging opportunities.
Running In-Game Tests
Another key feature of Magify’s platform is its ability to run in-game tests, allowing studios to experiment with various game mechanics, features, and monetization strategies to see what resonates best with their audience. These tests provide valuable data that can be used to refine the gaming experience and boost player engagement. By running controlled experiments within the game, developers can gather insights on player preferences and behaviors, enabling them to make informed decisions about future updates and improvements. This iterative approach to game development helps studios create more engaging and successful games.
In-game tests also play a crucial role in optimizing monetization strategies. By experimenting with different pricing models, in-game purchases, and ad placements, studios can identify the most effective ways to generate revenue while maintaining a positive player experience. This data-driven approach ensures that monetization efforts are aligned with player expectations and preferences, ultimately leading to higher revenue and player satisfaction. Magify’s platform makes it easy for studios to design and implement in-game tests, providing the tools and insights needed to drive continuous improvement and innovation in game development.
Managing Monetization Strategies
Magify, a tech company based in Cyprus, recently raised €1 million to enhance its cutting-edge Business Intelligence and LiveOps platform, specifically designed for game developers. This funding boost, secured from Steam Power Investments, follows an earlier round of investment from Narwhal Accelerator in June. The new funds will be crucial for improving Magify’s platform features, broadening its AI capabilities, and expanding into new markets. Magify’s ultimate goal is to cater to the rising need for data-driven decision-making tools in the fiercely competitive mobile gaming industry. With the additional resources, they plan to address market needs by improving real-time analytics, optimizing user engagement, and offering more personalized gaming experiences. Furthermore, Magify aims to scale its operations to assist more game development studios in gaining a competitive edge through insightful data analysis. As the gaming industry grows, the demand for comprehensive LiveOps and Business Intelligence solutions rises, and Magify is strategically positioned to meet this demand with its innovative platform.
