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Cypher Games
Wilmington, US · Founded 2022 · 68 employees on LinkedIn · 10 known investors
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Cypher Games is a mobile game studio that develops match-3 games, including its title Match Squad, which features cinematic worlds, competitive multiplayer, and city-building mechanics. The company combines art, data, and technology to make games for a global mobile gaming audience.
Also known as Cypher · Cypher Games
Founders & leadership
Cypher Games was founded in 2022 by Batuhan Şakarcan, Burak Taban, and Erdem Özdoğan.
Board
Investors · 10
How we know: e2vc's portfolio page · funding news · the VCSheet dataset · research · pocketgamer.biz · Not right? Tell us
How we know: Play Ventures's portfolio page · board seat on SEC Form D · tech.eu · funding news · the VCSheet dataset · research · pocketgamer.biz · Not right? Tell us
Also in the syndicate · 6
Reported raises · per SEC filings
Form D private placements$29.9M disclosed across 2 of 5 rounds · 2022–2025
▶$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 an Istanbul-based mobile interactive entertainment company developing casual titles focused on next-generation puzzle and luck games. The studio describes its mission as building games that are easy to pick up but hard to put down by combining art, data and technology, and it positions itself as an art- and design-led team aiming for global hit titles.
Its debut title, Match Squad, combines match-3 mechanics with dice-based gameplay and adds city-building metagame and social layers: players attack friends, defend their city, collaborate with a squad and climb global rankings. A second title described on the company site, Royal Smash, is a physics-based destruction puzzle in which players aim a cannon to topple towers and structures across hundreds of levels. As of the October 2025 Series A announcement, Match Squad was approaching launch and the company was preparing a U.S. release while planning to begin creative production on a second game within two years.
Founding story
Cypher Games says it was founded on a shared passion for art and games, with the stated ambition of creating global hits and setting new standards in mobile gaming. Anil Simsek is co-founder and CEO.
Business model
Develops and operates mobile games for a global consumer audience; its debut title Match Squad was in development and approaching a U.S. launch as of October 2025.
Mobile games distributed to a global player base; specific monetization terms are not detailed in available material.
Traction
Investor Play Ventures stated that early metrics for Match Squad showed strong player engagement and early- to mid-term retention. The company has raised $3.2 million (2022), $10 million (2024) and $30 million (2025) across disclosed rounds.
Latest developments
In October 2025 Cypher Games closed a $30 million Series A led by The Raine Group and Play Ventures, with participation from MIT, E2VC and Big Bets, and existing backers Humam Sakhnini, Riccardo Zacconi and Akin Babayigit. The funds are earmarked for Match Squad's development and U.S. rollout, further hiring, and starting production on a second game within two years. The company was included in PocketGamer.biz's Top 30 Türkiye Game Makers of 2026 list.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Competes in the casual mobile match-3 category, which the company has characterized as crowded with average-quality titles; investors describe it as an art- and design-focused studio attracting talent in Turkey.
Positions Match Squad on the combination of match-3 mechanics with dice-based luck-battle gameplay and city-building metagames, aiming for an intersection of luck and skill in the core loop plus built-in social features.
Technology
Combines art, data and technology in game development, with emphasis on cinematic art direction, experience and emotional design.
Go-to-market
Global mobile distribution of free-to-play casual titles, with a U.S. launch planned for Match Squad and social/competitive features intended to drive player engagement and retention.
Global casual mobile game players, with an initial commercial focus on the U.S. market.
Geography
Headquartered in Istanbul, Türkiye, recruiting from the Turkish games talent pool; a Berlin office was announced in connection with its 2022 investment. Match Squad was being prepared for a U.S. launch.
History
The company raised a reported $3.2 million in June 2022, which was earmarked for expanding the team sixfold, opening a Berlin office and creating its first casual title. A $10 million seed round led by The Raine Group followed in September 2024, funding team growth and accelerating development of Match Squad. In October 2025 the company announced a $30 million Series A led by The Raine Group and Play Ventures.
Compiled by commissioned research from 13 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.
Founder mafia
3 people who came through Cypher Games went on to found or lead other companies.
Timeline · 8
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 ↗
Oversubscribed round with participation from MIT, E2VC and Big Bets (VC of Huuuge founder Anton Gauffin), alongside existing backers including Discord CEO Humam Sakhnini, King founder Riccardo Zacconi and Tripledot co-founder Akin Babayigit. Proceeds fund Match Squad development ahead of a U.S. launch, additional hiring, and the start of creative production on a second game within two years.
$30M source ↗
Seed investment round led by The Raine Group, used to expand the team and accelerate development of debut match-3 game Match Squad.
$10M source ↗
$10M source ↗
Following its 2022 investment, the company said funds would be used to expand the team sixfold and open an office in Berlin.
Investment reported as funding a sixfold team expansion, the opening of a new office in Berlin, and creation of the company's first casual title.
$3.2M 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 structure▸Research sources · 13
primary sources listed
- Cyphergamescyphergames.co · web
- Cypher Games Raises $30 Million to Expand Web3 Gaming - Ventureburnventureburn.com · web
13 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 studio building casual puzzle and luck titles, led by debut match-3 game Match Squad.
- Who founded Cypher Games?
- Cypher Games was founded by Batuhan Şakarcan, Burak Taban, Erdem Özdoğan in 2022.
- Who are Cypher Games's investors?
- Cypher Games's investors include 500 Emerging Europe, e2vc, Play Ventures, Raine.
- How much funding has Cypher Games raised?
- Cypher Games has disclosed $29.9M raised across 2 of its 5 known rounds.
- Where is Cypher Games headquartered?
- Cypher Games is headquartered in Wilmington, US.