Observed Signal · Sep 11, 2024 · Funding · Source: Tech.eu · Impact: 2/5 · Sentiment: Positive
Magify raises €1M for gaming analytics and LiveOps platform
Magify, a Cyprus-based Business Intelligence and LiveOps platform for game developers, has raised €1 million in funding from Steam Power Investments, a firm founded by former Melsoft executives Andrei Yarantsau and Alexander Shilyaev. The capital will support product development, enhance AI features, and fuel expansion into new markets. This round follows an earlier investment from Narwhal Accelerator in June. Magify provides a pay-as-you-go, end-to-end platform that combines business intelligence and LiveOps tools, allowing game studios to track marketing campaigns, run in-game tests, and manage monetization while cutting costs by 10x-30x versus building internal systems. Founded by Evgeniy Kurenkov, the platform targets studios of all sizes to improve user acquisition, retention, and monetization efficiency. The new investors see opportunities for cooperation with their portfolio companies.
Modest funding round for a niche gaming analytics and LiveOps platform, relevant to gaming marketing and user acquisition but not an industry-shifting event.
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Key Takeaways & Evidence Grounding
- Magify raised €1 million from Steam Power Investments.
- Steam Power Investments was founded by former Melsoft executives Andrei Yarantsau and Alexander Shilyaev.
- Magify received an earlier investment from Narwhal Accelerator in June.
- Magify offers a pay-as-you-go Business Intelligence and LiveOps platform for game studios.
- The funding will support product development, AI features, and global market expansion.
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