Friday Funding: Golf Emporium Puttshack Gets $150 Million

High-Tech Mini Golf

Puttshack is an upscale, high-tech miniature golf course from the founders of Topgolf. It recently raised $150 million in growth capital from BlackRock (BLK) in a second round raise. BlackRock will become Puttshack’s second investor, joining Promethean Investments who led a $60 million seed round.

If you’re familiar with Topgolf, Puttshack is a similar concept, but with mini golf. In other words, it uses electronically tracked golf balls to automatically keep score. Puttshack venues also offer food and beverage options.

More Venues, Better Tech

Puttshack plans to use its fresh capital in two ways. First, it wants to put its foot on the gas and start opening up new venues across the country. Right now, it only has two locations in Atlanta and Chicago. But, its management team wants to start opening 10 to 15 locations per year.

On top of that, Puttshack also wants to continue enhancing its patented technology, called Trackaball. This technology puts a microcomputer in each golf ball and tallies each player’s score. This eliminates the need to keep score manually, allows the customers to focus on having fun, and is arguably one of Puttshack’s most distinguishing features.

Puttshack Near You

By the end of the year, Puttshack hopes to have locations in Miami, Boston, and St. Louis.

Starting in 2023, Puttshack plans to open another Atlanta location as well as eight more locations in Dallas, Denver, Houston, Nashville, Philadelphia, Pittsburgh, and Scottsdale.

Now that Puttshack has some cash in the bank, golf fans should keep an eye out for Puttshack coming to a city near them — and then get to work on their short game.

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