Balancy Secures $700,000 in Latest Funding Round

Balancy, a gaming software company, has successfully raised $700,000 in its latest funding round, led by seasoned veterans of the mobile gaming industry. According to a report by Pocket Gamer, the newly acquired funds will be allocated towards enhancing Balancy's software-as-a-service platform, thereby improving its capability to support small and medium-sized studios in managing and monetizing live service games. Key investors include Max Kamenkov, CEO of SplitMetrics, Radostin Petrov, founder of Zariba Group and Casualino, Sergei Kovalenko, CEO of Venison and Braavo Capital, and Seth Sivak, former vice president of development at World of Warcraft. Founded in 2022 by Pavel Ignatov, Andrei Apanasik, and Julia Iljuk, the company's founding team boasts a combined 30 years of experience in the industry. "Our goal is to equip promising smaller and medium-sized studios with the tools necessary to thrive in a highly competitive market, particularly during a time when the cost per install is at an all-time high," stated Balancy CEO Ignatov. "With the support of our investors, we are poised to achieve our ambitious roadmap objectives, which include developing innovative machine learning and artificial intelligence-based monetization solutions and expanding our technology to accommodate various game engines beyond Unity."