Magify Secures €1 Million in Funding

Magify, a specialist in analytics and live operations, has successfully raised €1 million in funding, with Steam Power Investments taking the lead. According to reports by Pocket Gamer, the investment will primarily focus on advancing product development, with a particular emphasis on integrating AI and broadening its reach across the global gaming industry. Established in October 2023, Magify offers a suite of services to game studios, including data analytics, monetization strategies, live ops configuration, A/B testing, and user segmentation. Evgeny Kurenkov, founder and CEO of Magify, expressed the company's vision, stating, "Our goal is to provide equal opportunities for studios of all sizes to compete, ultimately fostering an environment where more exceptional games can flourish and succeed." He continued, "This investment will enable us to enhance our platform, delivering more sophisticated analytics, user segmentation, and monetization tools, which in turn will accelerate our global expansion. This move will allow us to support a wider range of game studios, from independent developers to major industry players." Andrei Yarantsau, co-founder of Steam Power Investments, noted, "In Magify, we've found a tool that not only meets but exceeds our expectations. We foresee significant opportunities for collaboration between Magify and our current and future portfolio companies involved in game development, which can help them optimize efficiency and reduce costs." Prior to this, in June 2024, Magify received an undisclosed amount of funding from Narwhal Accelerator, an initiative founded by veterans from Xsolla and MyGames Venture Capital.