Poolhouse, the new tech-enabled pool entertainment business from the founders of Topgolf, has raised US$34m in funding in its seed round.
The funding round was led by Sharp Alpha, a US venture capital investor and dmg ventures, DMGT’s consumer venture capital fund.
Other participants included David Blitzer, owner of the Philadelphia 76ers and New Jersey Devils; Simon Sports, co-owner of Ipswich Town FC; Active Partners, early investors in Soho House; and Emerging Fund, investor in F1 Arcade.
Signature Hospitality, an Australian hospitality operator, has taken an equity stake and also signed a franchise agreement.
Pool house is the result of four years of development by Steve and Dave Jolliffe of Topgolf, which merged with Callaway at a valuation of $2.1bn in 2021.
Steve Jolliffe, co-founder of Poolhouse, stated: "Poolhouse is the most ambitious and scalable concept my brother and I have created, representing the pinnacle of our lifelong work.
“Today, more people play at Topgolf than on traditional golf courses in the US, and we aim to make an even greater impact on the world of pool. Whilst we have a strong track record of incorporating technology into golf balls, this project has been our most challenging endeavour yet.”
Poolhouse will begin to roll out its own venues, beginning with a 21,500sq.ft site in London, UK, and the company is also in discussions to expand into the Middle East, North America, Southeast Asia and Europe.
The team behind Poolhouse is led by CEO Andrew O'Brien, a board member at F1 Arcade and formerly of Credit Suisse, and COO Matt Fleming, who held senior positions at Vagabond Wines and Be At One.
Senior members of the team bring experience from Puttshack, Bounce, Flight Club, and Swingers.
O'Brien, CEO and co-founder, said: “The Poolhouse experience heralds the most significant transformation in the history of a near 700-year-old sport. The Jolliffe brothers changed the landscape of golf with Topgolf, and they are set to do the same to pool.”
