Cypher Games secures $30m in series A funding

• Cypher secured a $10 million funding round in September 2024.
• The funds will also contribute towards the early development of a second title and a team expansion.

Istanbul-based mobile developer Cypher Games has secured a $30 million series A round led by The Raine Group and Play Ventures. 

The round saw participation from MIT, E2VC and Huuuge Founder Anton Gauffin’s VC Big Bets. They joined other backers such as Discord CEO Humam Saknini, King founder Riccardo Zacconi, and Tripledot co-founder Akin Babayigit. 

The round follows a previous $10 million seed round that took place in September of last year, bringing the company’s total funding to $40 million. 

New adventures 

Cypher says this latest funding will be used to support the launch of its debut title, Match Squad, which combines traditional match-3 mechanics with dice-based gameplay and city-building elements. Additionally, the funding will go toward the early development of a second game and plans to expand the studio's team.

“We’re thrilled to close this series A fundraising with the support of such a strong investor group,” said Anil Simsek, Co-Founder and CEO of Cypher Games. “Our mission is to pursue innovation and deliver it with top-tier storytelling and premium production quality, at the fastest possible pace. This new funding provides the liquidity necessary to execute on that vision as we bring our game to market.”

Also discussing the fundraiser, co-founder and partner of The Raine Group, John Salter said: “We’re pleased to deepen our partnership with Anil and the Cypher team as they continue to push the boundaries of the match-3 genre with their innovative integration of the dice mechanic.

“They have continued to attract the best talent in Turkey, which is evident in the beautiful game design and best-in-class gameplay in Match Squad. We look forward to supporting the execution of the team’s innovative strategy as Cypher continues to shape the future of the casual gaming ecosystem.”