Total amount raised
$255.9 Million
Latest funding date
10/01/2022
Location
Puttshack has successfully navigated six funding rounds, with notable investments from Promethean Investments and BlackRock. The most recent funding round was a Private Equity round, highlighting the company's continued growth and investor confidence.
Keep reading to explore the intricacies of Puttshack's fundraising journey and the investors backing this innovative platform.
What Is Puttshack?
Puttshack is a private company based in Chicago, Illinois, offering an upscale, tech-infused mini-golf experience. The company operates in the Gaming, Software, and Sports industries, utilizing patented technology to enhance the mini-golf experience.
With an employee count ranging from 51 to 100, Puttshack combines mini-golf with dining and socializing, making it a popular venue for private events and corporate gatherings. The company has raised funding through private equity, with notable investors like Promethean Investments and BlackRock.
How Much Funding Has Puttshack Raised?
- Private Equity Round
- Amount Raised: USD 150,000,000
- Date: October 2022
- Lead Investors: BlackRock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel the expansion of Puttshack's mini-golf emporiums, including new locations in various cities.
- Private Equity Round
- Amount Raised: USD 60,000,000
- Date: May 2021
- Lead Investors: Promethean Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for initial expansion and development of their tech-enhanced mini-golf concept.
- Seed Round
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and operations.
- Convertible Note
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide flexible financing options for growth and development.
- Series B
- Amount Raised: USD 12,000,000
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology offerings.
- Series Unknown
- Amount Raised: GBP 27,000,000
- Date: June 2019
- Lead Investors: Promethean Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the launch and expansion of Puttshack's initial locations.
Total Amount Raised: USD 222,000,000
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, offering a wide range of investment products and services.
- Investment Focus Areas: Technology, Healthcare, Energy
- Notable Investments: Apple, Microsoft, Amazon
- Promethean Investments
- Details: Promethean Investments is a private equity firm based in the United Kingdom. The firm focuses on investing in growth companies across various sectors.
- Investment Focus Areas: Consumer goods, Technology, Real estate
- Notable Investments: Not publicly disclosed
What's Next for Puttshack?
With $150 million in new funding, Puttshack is poised to expand its tech-infused mini-golf emporiums into major U.S. cities like Boston, Miami, and Nashville. This substantial capital injection underscores the vast opportunities available, particularly in the growing experiential entertainment sector. The company’s innovative approach, combining mini-golf with high-end dining, positions it well to capture a significant market share.
Future fundraising seems promising as Puttshack continues to demonstrate growth and profitability. The successful funding round led by BlackRock and Promethean Investments could pave the way for additional investments, possibly even an IPO. However, challenges such as securing prime real estate, maintaining quality across multiple locations, and navigating economic fluctuations remain. As the competitive socializing market evolves, Puttshack's ability to innovate and scale will be crucial to its sustained success.
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