Turkey-based studio Good Job Games, known for its match-three mobile game Match Villains, has raised $60 million in a Series A round.
The Series A round follows a seed round of $23 million that took place six months ago, making for a total investment of $83 million to date. The latest round was co-led by Menlo Ventures and Anthos Capital, with additional participation by Bessemer Venture Partners.
“When we first invested, the early metrics were already among the best we’d seen in the industry – and they’ve only improved since,” Menlo Ventures partner Amy Wu Martin said in the announcement. “The team has a long vision for what they’re building and we’re excited to double down.”
This was echoed by Anthos Capital partner Zack Zaharis, who said the firm is thrilled to support Good Job Games as the studio scales “Match Villains into a generational franchise.”
According to a post by Wu Martin on the official Menlo Ventures site, Match Villains is Good Job Games’ third release, although it’s the only game currently featured on the studio’s site. According to the Google Play Store page, Match Villains had over a million downloads, currently sitting at a 4.7-star rating with 64.8 thousand reviews.
Investors have been pouring cash into the Turkish game industry.
Good Job Games isn’t the only Turkish game studio to receive a millionaire investment to expand its work on mobile in recent times. In January, Magic Sort and Car Match developer Grand Games raised $30 million in Series A funding to bolster its team and scale into global markets. Last month, mobile studio Bigger Games raised $25 million in Series A funding to scale flagship title Kitchen Masters.
Yet, while these investments are definitely noteworthy, there are significant regional obstacles to consider. “While the hypercasual segment in general has had a tough few years, Turkey has been a rare bright spot thanks to a growing cluster of studios which has helped to build up a lot of specialised hypercasual expertise in a market with relatively low labor costs,” Omdia principal analyst Liam Deane told Game Developer. “However, high inflation and the overvaluation of the Turkish lira is starting to threaten this cost advantage.”
Game Developer and Omdia are sibling organizations under Informa.
