BlackRock investors have raised $150M to fund an aggressive stateside expansion of Puttshack as golf entertainment comes to the fore.
The tech-driven mini-golf experience opened its first U.S. locations in Atlanta and Chicago last year. Boston and Miami are expected to debut this fall, followed by St. Louis this winter, a company news release stated.
Eight more locations, including Dallas; Denver; Houston; Nashville, Tennessee; Philadelphia, Pittsburgh; and Scottsdale, Arizona, as well as a second location in Atlanta, are planned for 2023.
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“Puttshack is tapping into new markets with its innovative approach on the beloved game of mini golf, making it the clear leader in the social entertainment industry,” William Im, director in BlackRock’s credit team, said in a statement.
“The demand in this space is compelling, and we are excited to support Puttshack in its rapid expansion. There is a positive outlook on the horizon with substantial growth for the company.”
London-based Puttshack was founded in 2018 by brothers Steven and Dave Jolliffe — the minds behind Topgolf — alongside hospitality industry maven Adam Breeden. Like Topgolf, Puttshack uses microchip-embedded golf balls that enable automated scoring, bonus point opportunities and interactive games at each hole, per the release.
The news of Puttshack’s expansion comes as competitor Puttery, another tech-enabled mini-golf business backed by 28-time PGA winner Rory McIlroy, continues its blitz across the U.S.
Since debuting last September, Puttery has opened four locations and has another seven on the way.
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