Cypher Games
Wilmington, US · Founded 2022 · Delaware corporation · 8 known investors
Istanbul-based mobile game developer building Match Squad, a match-3 title combining dice mechanics and city-building.
Also known as Cypher · Cypher Games
Founders & leadership
Board
Investors · 8
Also in the syndicate · 6
Reported raises · per SEC filings
Form D private placements$29.9M disclosed across 2 rounds · 2024–2025
▶$21MraisedSep 2025 · 4 investors · Other TechnologyRule 506(b)
- Burak TabanExecutive Officer
- John SalterDirector
- Batuhan SakarcanExecutive Officer, Director
- Ahmet Emir KocaagaExecutive Officer, Director
- Ilhan Anil SimsekExecutive Officer, Director
- Harri ManninenDirector
- Offering amount
- $25M
- Amount sold
- $21M
- First sale
- Aug 2025
- Incorporated
- Corporation, Delaware, 2022
- Federal exemptions
- 06b
▶$8.8MraisedSep 2024 · 5 investors · Other TechnologyRule 506(b)
- Ahmet Emir KocaagaExecutive Officer
- Burak TabanExecutive Officer, Director
- John SalterDirector
- Ilhan Anil SimsekExecutive Officer, Director
- Harri ManninenDirector
- Batuhan SakarcanExecutive Officer, Director
- Offering amount
- $9M
- Amount sold
- $8.8M
- Proceeds to insiders
- $500K
- First sale
- Aug 2024
- Incorporated
- Corporation, Delaware, 2022
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Company profile
researched Aug 2026Cypher Games is a mobile gaming company established in 2022 and headquartered in Istanbul, Turkey. Its debut title, Match Squad, is a mobile-first game that combines traditional match-3 puzzle mechanics with dice-based gameplay and city-building elements. The company describes its approach as blending a "luck-battle" core drawn from dice mechanics with a social match-3 framework, with an emphasis on storytelling and production quality.
Following a $30 million Series A announced in October 2025, the company stated it would direct capital toward three areas: the U.S. launch of Match Squad, early development of a second game intended to broaden its portfolio, and hiring in art, design and engineering to support production. Company profile listings categorise Cypher Games across the gaming, mobile apps and entertainment sectors.
Business model
Cypher Games develops and publishes its own mobile game titles, with its debut release Match Squad targeted at the casual mobile market and a second title in early development.
Traction
Raised approximately $40 million in total disclosed funding across a September 2024 seed round and an October 2025 Series A, with its first title approaching market launch.
Latest developments
In early October 2025, Cypher Games announced an oversubscribed $30 million Series A led by The Raine Group and Play Ventures, with participation from MIT, E2VC and Big Bets, the VC founded by Huuuge founder Anton Gauffin, alongside angel investors including Discord CEO Humam Sakhnini, King founder Riccardo Zacconi and Tripledot co-founder Akin Babayigit.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
A Turkish mobile puzzle developer operating in the casual match-3 segment, backed by gaming-focused investors including The Raine Group and Play Ventures.
The company positions Match Squad on its integration of a dice mechanic into the match-3 genre, paired with an emphasis on game design, art and gameplay quality; investors cited its focus on emotional and experiential design.
Technology
Mobile game development combining match-3 puzzle mechanics with dice-based gameplay and city-building systems.
Go-to-market
Mobile-first release strategy, beginning with a U.S. launch of its debut title Match Squad.
Casual mobile game players, with an initial commercial launch of Match Squad planned for the United States.
Geography
Headquartered in Istanbul, Turkey, with a planned United States launch for its first title; internal records list a Wilmington, US address.
History
Founded in 2022 in Istanbul, the company raised a $3.2 million early round, followed by a $10 million seed round in September 2024 and a $30 million Series A announced in October 2025.
Compiled by commissioned research from 7 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 3
launches, deals, and filingsOversubscribed $30 million Series A round to fund the U.S. launch of debut title Match Squad, early development of a second game, and hiring in art, design and engineering.
$30M source ↗
$10M source ↗
Reported early funding round for the Turkish mobile puzzle games developer.
$3.2M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
Legal entities · 1
corporate structureIn the news
▸Research sources · 7
primary sources listed
- Cypher Games Raises $30 Million to Expand Web3 Gaming - Ventureburnventureburn.com · web
7 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Cypher Games do?
- Istanbul-based mobile game developer building Match Squad, a match-3 title combining dice mechanics and city-building.
- Who are Cypher Games's investors?
- Cypher Games's investors include e2vc, Play Ventures.
- How much funding has Cypher Games raised?
- Cypher Games has disclosed $29.9M raised across 2 rounds.
- Where is Cypher Games headquartered?
- Cypher Games is headquartered in Wilmington, US.