Magify secures €1 million in funding

Magify, a company specializing in analytics and live operations, recently secured €1 million in funding. This investment was spearheaded by Steam Power Investments.

According to Pocket Gamer, the funds will be allocated towards enhancing the firm's products through AI and expanding its reach in international gaming markets.

Established in October 2023, Magify offers a variety of tools for game studios, such as data analytics, monetization capabilities, live operations settings, A/B testing, and user segmentation.

Evgeny Kurenkov, Magify's founder and CEO, stated, "Our goal is to provide equal chances for studios of different sizes to compete effectively, ultimately allowing more exceptional games to succeed." He continued, "With this investment, we will improve our platform to offer even more sophisticated analytics, user segmentation, and monetization features, which will boost our global market penetration and support a wider range of studios, from indie creators to large-scale developers."

Andrei Yarantsau, co-founder of Steam Power Investments, remarked, "Magify presents an external solution that not only meets but surpasses our expectations. We anticipate fruitful collaborations between our existing and prospective game development partners and Magify, enhancing efficiency greatly."

Previously, in June 2024, Magify received a confidential amount of funding from the Narwhal Accelerator, a venture initiated by industry experts from Xsolla and MyGames Venture Capital, as reported by Pocket Gamer.