Istanbul’s Dream Games raises $255M at a $2.75B valuation

Istanbul-based mobile gaming studio Dream Games has raised $255 million in a Series C funding round led by Index Ventures, with IVP, Makers Fund, Kora, BlackRock and Balderton Capital also participating. 

The valuation of the casual games developer behind Royal Match, reached $2.75 billion with its new funding round. The company became a unicorn following a $155 million Series A back in June. 

Founded in 2019 by a team of ex-Peak employees, another Istanbul-based mobile gaming studio which was acquired by Zynga for $1.8 billion in May 2020, Dream Games’ first game, Royal Match, became one of the world’s top-grossing mobile games in 2021 and was among the top 10 mobile games in the US, UK and other key markets.

Currently having a team of 80, the company plans to use the new funding both to continue investing in Royal Match and to release a new game in 2022.

“The success and growth of Royal Match exceeded all of our expectations,” said Stephane Kurgan, the Index Ventures partner in a statement. “In eight months, Royal Match has become one of the most played mobile games of 2021. Dream Games has assembled one of the best teams in the industry, with  a rare combination of creative talent, engineering expertise and relentless work ethic. They’ve already shifted the norms around what counts as excellence in mobile gaming, and we’re excited to see where they go next.”

Written by Maya Robertson

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