CHICAGO, May 5, 2021 /PRNewswire/ — Puttshack, the only upscale tech-infused mini golf experience with global food and drink, today announced it has completed a growth capital round of $60 million led by Promethean Investments. The funds will continue to support the company’s booming growth, bringing this one-of-a-kind experience to more cities in the U.S., UK and around the world.
Joining its three current UK venues, Puttshack successfully opened its first U.S. location in Atlanta last month, with plans to open Oak Brook, Ill., in Fall 2021, and Miami soon after. The team also recently signed a lease in Nashville’s The Gulch neighborhood at the site of the old Gibson Guitar factory and is expected to announce multiple new U.S. locations soon that plan to open in 2022. This latest round of funding will allow the team to continue securing unique and desirable real estate opportunities as it expands into more top markets.
«We are thrilled to continue our partnership with Promethean and others as we look to continue our growth in the U.S., UK and beyond,» said Logan Powell, CFO of Puttshack. «Despite the challenges in our industry throughout 2020, we are poised for growth and are excited to bring our tech-infused, patented mini golf offering to more locations and guests. This capital will allow us to continue the vision of our founders, and we are grateful for the continued support of all our investors.»
Michael Burt, Managing Partner Promethean Investments, added, «Puttshack is truly leading the way in the social entertainment industry, and we are honored to continue supporting the company and the entire team. The investment round was oversubscribed, which speaks volumes of the strength of the concept and team. The demand for social entertainment, particularly as we emerge from the global pandemic, is extremely high, and Puttshack is set to grow at a rapid pace.»
Puttshack is the first, and only, upscale tech-infused mini golf experience. The innovative, competitive mini golf game with uniquely themed holes is powered by the brand’s patented Trackaball technology that keeps score for you as you play. The game play is matched by a globally inspired dining menu, made in-house and of the highest quality, that is complimented by a full cocktail bar and an all-around upscale, cool experience. Puttshack is open and inviting for everyone during the day and then evolves into a 21+ nightclub vibe in the evening, making it accessible and fun for all throughout the day.
Proven in attracting the young adult target demographic, the Puttshack team is continuing its strategic expansion plans, identifying optimal locations in top MSAs across the U.S. Puttshack is represented nationally by Mat Focht and Robert Johnson of Emerging Concepts http://emergingconcepts.com/.
For more information about Puttshack, please visit www.puttshack.com.
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Puttshack is a leading concept in the emerging and growing market of competitive socializing. Combining a tech-infused mini golf game with exceptional food and beverage offering, Puttshack has multi-generation appeal. Patented Trackaball technology allows guests to play a point scoring game surrounded by an upscale and exciting environment. Puttshack is the perfect place to host a company off site, celebrate a birthday, date night or simply hang out with friends. Since opening its first location in 2018, Puttshack now has three London locations with ambitious global plans for expansion.
Puttshack was founded by Steve and Dave Jolliffe, original founders of Topgolf and World Golf Systems, and Adam Breeden, co-founder of Flight Club, Ace Bounce and All Star Lanes. The company has its global headquarters in Chicago, Ill. with a UK headquarters in London. For more information, please visit: https://www.puttshack.com.
About Promethean Investments
Founded in 2005 by Michael Burt and the late Sir Peter Burt, Promethean Investments LLP is a U.K. and U.S. based lower mid-market investment firm focused on Equity Special Situations. Since inception Promethean has invested over US$450m (including co-investment) in sixteen private companies across three vehicles. Since 2018 Promethean has been one of the most active investors in Location Based Entertainment and now has 8 active concepts in its portfolio.
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