Cypher Games Closes $30 Million Series A Funding Round Led by The Raine Group and Play Ventures

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ISTANBUL & NEW YORK--(BUSINESS WIRE)--Oct 2, 2025--

Cypher Games (“Cypher” or the “Company”), a mobile interactive entertainment company, today announced the successful completion of a $30 million financing round led by The Raine Group and Play Ventures. The Raine Group is a leading global strategic advisory and investment firm specialized in gaming, technology, media, entertainment and sports. Play Ventures is a leading venture capital firm focused on early-stage gaming and consumer apps. The round was oversubscribed, with participation from MIT, E2VC and Huuuge Founder Anton Gauffin’s VC Big Bets. They join existing backers Discord CEO Humam Sakhnini, King Founder Riccardo Zacconi and Tripledot Co-Founder Akin Babayigit.

“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.”

This investment follows the successful completion of Cypher’s $10 million seed investment round in September 2024, which enabled the expansion of the Cypher team and accelerated development of its debut match-3 game, Match Squad. Match Squad combines match-3 mechanics with dice-based gameplay, uniting two of the most popular genres in the casual mobile gaming category.

Cypher will use this most recent funding to continue supporting Match Squad’s development as it prepares for U.S. launch. With additional strategic capital, the Cypher team will also look to identify more talent to support the Match Squad rollout and execute on the Company’s long-term vision for game development, initiating the creative production process for its second game within the next two years.

Mr. Simsek continued, stating, “There are many great game companies and titles in the market that we admire and respect as game producers. But every year, players expect something new. They look for innovation and meaningful differences. Match Squad offers the perfect intersection of luck and skill in the core loop – something we believe is missing in today’s mobile games.”

He added, “We are bringing the true social core of luck-battle games to match-3 by combining them with city-building metagames. We don’t aim to differentiate for the sake of being different. We operate in pursuit of the perfect feeling, bringing all players under one roof and expanding the potential player base. We won’t stop until we achieve it.”

Commenting on the completed fundraising round, John Salter, Co-Founder and Partner of The Raine Group, 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.”

Harri Manninen, a Founding Partner at Play Ventures, said, ''Cypher has one of the strongest art and design visions in the world. The team invests heavily in experience and emotional design, actively seeking out the best talent in Turkey. We were the first to back Cypher, a young, world-class team that has quickly evolved into a true global design and art powerhouse. With Match Squad, they are set to redefine the match-3 genre, and early metrics already show incredible player engagement along with the best-in-class early to mid-term retention.''

About Cypher Games
Cypher Games is an Istanbul-based mobile gaming company developing casual titles with a focus on next-generation puzzle and luck games. With its first game approaching launch, the company aims to shape the future of mobile gaming in partnership with colleagues and investors by introducing a novel match-3 concept featuring built-in social features. For more information, please visit cyphergames.com.

About The Raine Group
The Raine Group is a leading global merchant bank with an integrated focus on both advisory and principal investments in the TMT sectors. Founded in 2009, Raine has advised on some of the largest and most cutting-edge transactions in the history of TMT and has leveraged that experience to be an active, strategic value-add growth investor. Headquartered in New York, Raine has offices in San Francisco, Los Angeles, London, Barcelona, Mumbai, Shanghai and Singapore. For more information, please visit raine.com.

About Play Ventures
Play Ventures is a leading early-stage gaming and consumer app venture capital firm with offices in Singapore and Helsinki, Finland. Play is founded by gaming industry veterans Henric Suuronen and Harri Manninen, who have made successful exits to King and Disney respectively. Play invests globally in pre-seed to Series A startups in gaming, consumer apps, and gaming adjacent technology and SaaS. For more information, please visit www.play.vc.

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SOURCE: Cypher Games

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PUB: 10/02/2025 06:00 AM/DISC: 10/02/2025 05:59 AM

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