Total amount raised
$255.9 Millions
Latest funding date
10/01/2022
Location
Puttshack has successfully raised significant funding through multiple rounds, with notable investors including Promethean Investments and BlackRock. The company recently closed a Private Equity round on October 6, 2022.
Keep reading to explore the intricacies of Puttshack's fundraising journey and the investors backing this innovative platform.
What Is Puttshack?
Puttshack, founded in 2017, is an innovative company in the gaming, software, and sports industries. With headquarters in London, England, and a significant presence in Chicago, Illinois, Puttshack has carved a niche in the entertainment sector by offering a tech-infused mini-golf experience.
Founded by Adam Breeden, the company employs between 51 and 100 people. Puttshack's unique offering includes advanced ball-tracking technology, known as Trackaball, which enhances the mini-golf experience. The company also provides a variety of food and drink options, making it a popular choice for social gatherings and private events.
How Much Funding Has Puttshack Raised?
- Private Equity Round
- Amount Raised: $150M
- Date: October 2022
- Lead Investors: BlackRock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support Puttshack's rapid growth strategy in the United States, including opening new locations and securing unique real estate opportunities.
- Private Equity Round
- Amount Raised: $60M
- Date: May 2021
- Lead Investors: Promethean Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion efforts.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at initial development and market entry.
- Convertible Note
- Amount Raised: Not publicly disclosed
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at providing short-term capital for operational needs.
- Series B
- Amount Raised: $12M
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support further development and scaling of operations.
- Venture Round
- Amount Raised: £27M (approximately $34M)
- Date: June 2019
- Lead Investors: Promethean Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel early-stage growth and market penetration.
Total Amount Raised: $256M
Current Valuation: Not publicly disclosed
Key Investors
- BlackRock
- Details: BlackRock is a global investment management corporation based in New York City. It is one of the world's largest asset managers, with a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Puttshack, Uber, Apple
- Promethean Investments
- Details: Promethean Investments is a private equity firm that focuses on investing in mid-market companies. The firm is known for its hands-on approach to growing businesses.
- Investment Focus Areas: Consumer goods, technology, healthcare
- Notable Investments: Puttshack, The Gym Group, Pure Gym
What's Next for Puttshack?
Puttshack is poised for significant growth as it expands into major U.S. cities like Boston, Miami, and Dallas. With $150 million in growth capital, the company is well-positioned to secure prime real estate and enhance its tech-driven mini-golf experience. This expansion taps into the growing demand for unique social entertainment venues, offering a substantial market opportunity.
Future fundraising efforts are likely as Puttshack continues to scale. The strong backing from investors like BlackRock and Promethean Investments suggests confidence in the company's potential. However, challenges such as maintaining consistent quality across locations and navigating economic fluctuations could pose hurdles. The competitive socializing market is evolving, and Puttshack's innovative approach places it at the forefront of this trend.
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