Turkish mobile games startup Dream Games said on Wednesday it had raised $155 million from investors, valuing the business at $1 billion within months of launching its debut title, Royal Match.
The company has thus become the third unicorn – a term for startups that pass the $1 billion mark – of Turkey, which has spawned a series of gaming startups.
It follows another gaming company, Peak, which became the country’s first unicorn after it was acquired by United States-based global gaming giant Zynga in June last year in a deal worth $1.8 billion.
Rapid delivery startup Getir followed as it has tripled its valuation to over $7.5 billion since March.
The company this month raised $555 million in the latest funding round. It had raised $428 million in two funding rounds in January and March.
The latest series of investments means the company raised almost $1 billion so far this year.
Dream Games' Series B investment round is the largest of its kind in Turkey.
“We are very proud of the early success of Royal Match and will utilize the investment to grow the game everywhere," said co-founder and CEO Soner Aydemir.
Royal Match has built a following of more than 6 million active monthly users, entering the top 20 grossing games in the United States, Britain and Germany within three months of its launch, the company said.
The funding round was led by Index Ventures and Makers Fund, with participation from Balderton Capital, IVP and Kora, Dream Games said in a statement.
“We are very focused on making great games that appeal to all types of players across the globe,” said Aydemir. "We are very excited about our investors’ confidence in the potential for Dream Games.”
“Since its launch in early March, Royal Match has become one of the top casual puzzle titles globally, driven by once in a decade retention metrics. It speaks to the sheer quality of the title that the Dream Games team has built and the flawless polish and execution across the board,” said Stephane Kurgan, venture partner at Index Ventures.
Michael Cheung, a general partner at Makers Fund, said the Dream Games team’s "deep genre insight, laser-focus on detail and team chemistry have helped create the early success of Royal Match.”
“We're excited to be on the journey with them as they grow Royal Match globally.”
