How do you take mini golf to the next level? You add arcade-style games and drinking.
On Wednesday, Chicago-based mini golf company Puttshack announced that it raised $60 million in a growth capital round led by Promethean Investments. This new capital will help the company as it opens more locations in the U.K., U.S. and across the world.
Puttshack is what you get when you cross a mini golf course with a Dave & Buster’s. Each Puttshack location is filled to the brim with high-tech mini golf inspired games. You can play mini golf versions of different games, including beer pong, skee-ball, pinball and even true or false quizzes. To add to the experience, Puttshack also has patented ball-tracking technology that keeps score of your games so you can spend your time having fun and hanging out with your friends — and so your friends don’t cheat.
Puttshack caters to both kids and adults. The locations are friendly to all ages during the day, and turns into a 21-and-over nightclub at night. There’s also a full menu with appetizers, entrees and desserts, as well as alcoholic and non-alcoholic beverages.
Puttshack officially launched in 2018, and the first few Puttshack locations have popped up all over the world. Right now there are three locations in the U.K. and one location in Atlanta.
Although the company itself is headquartered in Chicago, there are no Puttshack locations in the Midwest, but that’s about to change.
Puttshack is currently developing a location in Oak Brook that is scheduled to open in the fall. Then later in the year, Puttshack plans to open up a location in Miami. The company also just signed a lease for a location in Nashville, and plans to develop a location there too.
On top of that, Puttshack plans to open several additional locations in the U.S. in 2022, and secure more leases in other markets too. This new funding round will help the company pay for its rapid expansion goals.
With all this money being invested in new venues, the company is wagering that people will be eager to enjoy the social experiences Puttshack has to offer — especially after living through over a year of COVID-19 restrictions. As Puttshack enters new markets, we’ll find out whether this bet pays off.
“We are thrilled to continue our partnership with Promethean and others as we look to continue our growth in the U.S., U.K. and beyond,” Puttshack CFO Logan Powell said in a statement. “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.”
