Thursday December 7, 2023

Puttshack Raises $60M as Mini Golf Surges

  • Puttshack, the tech-infused min golf experience is growing.
  • The company completed a growth capital round of $60 million.
Puttshack/Design: Alex Brooks
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Puttshack — a mini-golf venture known for its sophisticated ball-tracking and scoring tech — completed a growth capital round of $60 million, led by Promethean Investments. 

There are currently four Puttshack locations with three more planned: 

  • Three across the United Kingdom
  • Atlanta opened in April, first U.S. location  
  • Chicago opens Fall 2021
  • Miami comes after Chicago
  • Nashville scheduled for 2023

Co-founded in 2018 by Steve and Dave Jolliffe, the twin brothers who created Topgolf, Puttshack offers a bit more than the mini golf you’re used to. It’s also open at night for the 21-and-up crowd.

The mini golf industry’s annual revenue exceeds $1 billion, and Puttshack isn’t the only business making moves.

In 2019, Tiger Woods partnered with PopStroke, an outdoor experience providing golfers with app-based score-keeping and food-and-drink delivery to the course. On Thursday, PopStroke and Woods announced a plan to add seven properties across three states with courses designed with the help of Woods.

Earlier this year, Rory McIlroy partnered with Drive Shack on its tech-driven mini golf brand Puttery, which plans to launch in Dallas and Charlotte this summer.

On top of that, Swingers — a high-end mini golf experience popular in the U.K. — raised $20 million from investment firm Cain International in March.

Also in March: Topgolf completed its merger with Callaway, the latter paying $2.66 billion in stock to acquire the 86% stake it didn’t previously own. Topgolf has added mini golf courses to multiple locations in recent years.

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