Mobile game developer Dream Games, the company behind the hit gaming title “Royal Match,” has raised $255 million at a valuation of $2.75 billion.
Led by Index Ventures, the Series C round included existing investors Balderton Capital, Makers Fund, Kora, and new investor BlackRock — the world’s largest asset manager with $9.46 trillion in assets under management.
Dream Games will use the fresh capital to facilitate the development of a new game and expand its workforce in Istanbul by adding 120 employees to its current workforce of 80.
Over the past year, Dream Games has added resources through a series of funding rounds.
- Last March, it raised $50 million — the largest Series A by a startup in Turkey to date.
- It raised $155 million during a Series B in June 2021, valuing the business at $1 billion.
- Including the latest round, the mobile game studio has raised a total of $468 million.
Global Reach
Despite Turkey being the home to valuable tech startups like mobile gaming company Peak Games, which was acquired by Zynga in June 2020 for $1.8 billion, Dream Games generates 99% of its revenue from outside the country.
“In Turkey, we have thousands of talented young people,” CEO Soner Aydemir told CNBC. “Mobile gaming gives them the opportunity to reach a global audience for the first time.”
