Puttshack Funding, Investors & Competitors

Puttshack has raised $256M across 4 funding rounds, most recently a $150M undisclosed-stage round in October 2022.

Last Puttshack funding round

$150M

Undisclosed stage · Oct 2022

Cumulative funding Puttshack raised

$256M

across 4 funding rounds

Key investors in Puttshack

Puttshack Overview

About Puttshack

Puttshack is a London-headquartered operator of indoor mini-golf venues featuring Trackaball ball-tracking technology for automatic scoring and leaderboards. Since launching in 2018, it has expanded to seven locations including Chicago, Washington D.C., Atlanta, and Manchester, each with multi-story courses, upscale bars, and full menus. The venues blend competitive play with dining in high-energy environments.


Founded

2017

HQ

United StatesChicago, IL

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Puttshack Funding History

Puttshack has raised a total of $256M across 4 funding rounds.

Puttshack's first fundraising round was a $34M undisclosed-stage round in June 2019. The most recent completed round was a $150M undisclosed-stage round in October 2022.

Puttshack funding rounds

Puttshack funding rounds
DateStageInvestorsRaisedDeal Summary
Oct 2022Undisclosed stageBlackRock (lead); Promethean Investments$150MPuttshack is an upscale, tech-infused mini-golf entertainment concept with integrated food and beverage, founded by Topgolf co-founders, featuring automated scoring technology and high-energy social experiences. As of October 2022, it operated two U.S. venues in Atlanta and Chicago, plus four in the U.K., positioning itself as a leader in the competitive socializing market amid post-COVID demand for experiential outings. In October 2022, Puttshack secured $150 million in growth capital from funds managed by BlackRock with continued support from Promethean Investments. This private equity/debt-like round followed a $60 million raise in May 2021 led by Promethean, bringing total funding to around $222-250 million by late 2022. Funds were earmarked for aggressive U.S. expansion, including imminent openings in Boston and Miami (fall 2022), St. Louis (winter 2022), and eight more cities in 2023 like Dallas, Denver, Houston, Nashville, Philadelphia, Pittsburgh, Scottsdale, and a second Atlanta site. The capital also supported technology enhancements for booking and gameplay. Executives highlighted rapid profitability post-reopening (e.g., U.K. venues profitable within 72 hours) and strong demand, enabling valuation stability versus peers. Puttshack expanded its management team in 2022 with COO, EVP of software engineering, and VP of learning roles to handle scaling. BlackRock's involvement provided strategic connections for future funding. The company continued raising, with a December 2024 private equity round noted.
May 2021Undisclosed stagePromethean Investments (lead)$60MPuttshack is an upscale, tech-infused mini golf experience founded by Topgolf co-founders Steven and Dave Jolliffe, combining competitive mini golf with global food and beverage offerings. The company launched initial locations in the United Kingdom before expanding to the United States, with its first two U.S. venues opening in Atlanta and Chicago in 2021. In May 2021, Puttshack completed a $60 million growth capital round led by Promethean Investments, a U.K.-based private equity firm. The company demonstrated strong unit economics during the pandemic, with U.K. locations returning to profitability within 72 hours of reopening, which enabled the company to hold its valuation despite pandemic-related closures. This funding round supported initial U.S. expansion and development of the company's technology-enhanced mini golf concept, with venues subsequently planned for Boston, St. Louis, and Miami by the end of 2022, followed by additional cities including Denver, Nashville, and Philadelphia in 2023. As of December 2024, Puttshack had raised approximately $244 million cumulatively across multiple rounds including continued support from Promethean Investments and a subsequent $150 million round led by BlackRock in October 2022.
Feb 2021Series B-$12MPuttshack raised $12 million in a Series B round in February 2021 to scale operations and enhance technology offerings. The company operates upscale tech-infused mini golf experiences with global food and beverage. Lead investors for the round were not publicly disclosed. This followed earlier funding and preceded a $60 million private equity round in May 2021 led by Promethean Investments for initial expansion. Puttshack launched in 2018 by Topgolf co-founders Steven and Dave Jolliffe.
Jun 2019Undisclosed stagePromethean Investments (lead)$34MPuttshack is an upscale, tech-infused mini-golf experience with global food and beverage offerings, launched in London in 2018 by Adam Breeden and co-founders including Topgolf's Steven and Dave Jolliffe. The company completed a Series Unknown funding round of GBP 27 million (approximately $34.3 million) in June 2019, led by Promethean Investments, a UK-based private equity firm focused on growth companies in consumer goods, technology, and real estate. This capital supported the launch and expansion of Puttshack's initial locations in the UK. The round preceded further growth, with Puttshack raising $60 million in May 2021 led by Promethean Investments for expansion and development of its tech-enhanced mini-golf concept, and $150 million in October 2022 from BlackRock with Promethean support to fuel US expansion, including new venues in cities like Boston, Miami, and others through 2023. Puttshack has grown to multiple locations in the UK and US, positioning itself as a leader in the competitive socializing and social entertainment industry with innovative mini-golf technology for automated scoring and enhanced guest experiences. Total funding raised across six rounds reached USD 222 million by later dates.

Who has invested in Puttshack?

2 investors have backed Puttshack across its funding rounds, including Promethean Investments and BlackRock.

Lead investors include BlackRock and Promethean Investments.


Puttshack Investors

Investors in Puttshack by funding rounds participated
InvestorHQRoundsRoleFirst check

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Puttshack Competitors

Puttshack competitors include listed companies like Disney, Live Nation, Oriental Land and Villar Land Holdings, and private ones like Aman Resorts and Hudle.

Public and private companies comparable to Puttshack
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
DisneyUnited StatesUnited StatesPublicly listed$94B$19B$182B2.3x
Live NationUnited StatesUnited StatesPublicly listed$25B$1.8B$39B1.6x
Oriental LandJapanJapanPublicly listed$4.5B$1.5B$32B6.7x
Villar Land HoldingsPhilippinesPhilippinesPublicly listed$57M$22M$10B-
Aman ResortsSwitzerlandBaarPrivate$518M-$3B-
HudleIndiaDelhiPrivate--$2.8B-

Puttshack Public Comps

Puttshack is still privately-owned, but its public comps include Disney, Live Nation, Oriental Land, Villar Land Holdings, MSG Sports, Life Time Group Holdings, Toho, Light & Wonder, Benefit Systems and Cinemark.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Disney$94B$19B2.4x2.3x12.3x10.3x
Live Nation$25B$1.8B1.7x1.6x23.5x16.7x
Oriental Land$4.5B$1.5B6.8x6.7x20.3x20.1x
Villar Land Holdings$57M$22M81.8x-209.6x-
MSG Sports$1.2B$39M9.1x9.2x267.1x402.4x
Life Time Group Holdings$3B$872M4.4x4.0x15.1x14.4x
Toho$2.3B$581M3.5x3.5x14.0x15.9x
Light & Wonder$3.3B$1.1B3.4x3.3x10.3x7.5x

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Common questions about Puttshack

When was Puttshack founded?Puttshack was founded in 2017.
Where is Puttshack headquartered?Puttshack is headquartered in Chicago, IL, United States.
Is Puttshack publicly listed?No, Puttshack is a private, VC-backed company.
How much funding has Puttshack raised?Puttshack has raised $256M across 4 funding rounds.
What was Puttshack's last funding round?Puttshack's last funding round was a $150M undisclosed-stage round in October 2022, led by BlackRock.
Who are Puttshack's investors?Puttshack's investors include Promethean Investments and BlackRock.
Which companies are comparable to Puttshack?Companies comparable to Puttshack include Disney, Live Nation, Oriental Land, Villar Land Holdings, Aman Resorts and Hudle.

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