Diligence memo · auto-generated · as of July 2, 2026
Cypher Games Inc.
Cypher Games Inc. looks fair against its niche peers and is active on financing cadence.
Businessfiled
Cypher Games Inc. operates in Gaming, based in WILMINGTON.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Cypher Games Inc. has raised $30M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $21M on 2025-08-26.
Most recent recorded round closed around 2025-08-26.
Valuation (modeled)modeled
Provath models Cypher Games Inc. at approximately $90M (range $46M–$129M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.10× the median modeled value of Series B Gaming companies in 2025–2027 (5 peers) — value vs value, same stage and era. Within the normal band (110% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 12 months.
Last raise 10 mo ago; this sector typically re-raises about every 12 months.
Raising on or ahead of the sector's normal rhythm.
The last round stepped up 2.4× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 96% of Gaming peers (344 compared).
Modeled value ranks above 91% of those peers.
Closest niche peers: TaleMonster Games Inc., Super League Gaming, Inc., Azra Games Inc., Motorsport Games Inc..
Peoplefiled
6 named people on file across officers, directors and signatories.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.