Nicosia, Cyprus, June 20 2024 | Narwhal, a gaming industry initiative dedicated to supporting startup gaming and game tech companies, is excited to announce its investment in Magify, an innovative game tech company with an end-to-end Business Intelligence system platform for mobile game developers. Although the deal's financial details remain undisclosed, this partnership marks a significant milestone for both entities.
The investment aims to support Magify in scaling its business operations and successfully closing its current funding round. Narwhal's backing will enable Magify to enhance its development capabilities and bring cutting-edge gaming solutions to mobile game developers. Additionally, Narwhal plans to support Magify in solving HR, legal, and other business challenges while also leveraging its extensive network to share Magify's solutions with other friendly studios, fostering a collaborative ecosystem within the gaming industry.
The mobile gaming market is rapidly expanding, with increasing competition and evolving threats. Magify looks to solve this by helping developers enhance Lifetime Value and User Acquisition through advanced user segmentation and personalized monetization campaigns. These capabilities are crucial for maintaining a competitive edge in the dynamic mobile gaming landscape.
At its core, Magify is an end-to-end business intelligence system focusing on effective spending, an all-in-one application that will help mobile developers A/B test and pivot through performance analytics shown on an intuitive interface. Magify can seamlessly integrate into any existing project within a matter of days, helping game studios understand the potential of their game projects and speeding up the process of making the correct business decisions right away.
"In today’s market, with continuous post-IDFA challenges, UA for mobile games has become more expensive, and all studios are trying to find a solution to increase LTV and optimize marketing costs. We are excited to partner with Magify and support their journey towards becoming a leading solution for mobile game developers," said Grigory Bortnik, Co-founder of Narwhal. "Our investment reflects our confidence in their vision and our commitment to fostering innovation."
"We are thrilled to have Narwhal's support as we continue to grow and innovate," said Euguene Kurenkov, CEO of Magify. "This partnership will provide us with the resources and industry connections needed to reach new heights. For several years now, the mobile games market has had a high entry barrier for newly created studios, and we are on a mission to solve this problem. Previously, it was possible with a fairly high probability to release a game whose economics would be profitable without having internal tools for analytics, A/B tests, and live ops for operating games. Still, in modern realities, this approach simply does not work. When developed independently, such solutions are expensive and require much time and highly qualified specialists. Magify offers everyone a convenient all-in-one tool which is easy to set up and use. It provides much-needed functionality for game studios right out of the box, allowing them to concentrate their resources on the most important thing - releasing real game bestsellers."
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About Narwhal
Narwhal Accelerator is a gaming industry initiative supporting startup gaming and game tech companies across Europe, LATAM, and MENA regions. Led by industry professionals Dmitrii Filatov and Grigory Bortnik, Narwhal Accelerator aims to bridge the gap between visionary game developers and the resources they need to thrive, offering comprehensive support packages to foster innovation and growth. Applications are currently open on Narwhal.ax.
About Magify
Magify.com is an end-to-end BI system designed to enhance Lifetime Value (LTV) and, consequently, the User Acquisition (UA) volume through user segmentation of applications and personalized monetization campaigns. For more information, visit Magify.com