Puttshack, a technology-infused mini-golf experience company founded by the creators of Topgolf, has received $150 million in growth capital to fund its expansion across the US.
The round was led BlackRock and Promethean Investments. Puttshack will use the new funding to take its competitive socialising concept to more cities in the US, which will be announced soon.
Founded byTopgolfcreatorsSteve JolliffeandDave Jolliffe, Puttshack's first attraction opened in London in 2018. The Chicago-based company currently has two locations in the US and four in the UK.
New venues in Boston and Miami are due to open soon, followed by another location in St. Louis this winter. Additional attractions will open in Dallas, Denver, Houston, Nashville, Philadelphia, Pittsburgh and Scottsdale in 2023.
"As the global leader in the emerging and growing market of competitive socializing, we have found immense success since opening our first two US venues in Atlanta and Chicagolast year," saidLogan Powell, group CFO of Puttshack.
"This new capital from BlackRock will allow us to further expand and bring our one-of-a-kind concept to more cities across the country," Powell added.
"Our guests are our top priority; therefore, we will continue investing in innovative technologies to enhance the overall guest experience with a seamless booking platform and novel mini-golf game components only available at Puttshack."
Competitive socialising
Puttshack's mini-golf courses are powered by its patented Trackaball technology. Its venues are immersive social environments with F&B.
"Puttshack is tapping into new markets with its innovative approach on the beloved game of mini-golf, making it the clear leader in the social entertainment industry," saidWilliam Im, director in BlackRock's credit team.
"The demand in this space is compelling, and we are excited to support Puttshack in its rapid expansion," said Im.
"There is a positive outlook on the horizon with substantial growth for the company."
Images: Puttshack
Jade Craig
