Poolhouse, a new entertainment concept from the Michigan-native founders of Topgolf, brothers Steve and Dave Jollie, has secured $34 million in seed funding to reinvent the classic game of pool.
The seed round includes an investment from Simon Sports, a Simon Group Holdings company based in Birmingham.
The round was led by Sharp Alpha, a U.S. leisure-focused venture capital investor, and dmg ventures, DMGT’s consumer venture capital fund. Other participants include David Blitzer, owner of the Philadelphia 76ers and New Jersey Devils, and Emerging Fund, an investor in F1 Arcade.
In turn, Signature Hospitality Group, one of Australia’s largest hospitality brand operators, has taken an equity stake and signed a franchise agreement with Poolhouse.
Poolhouse is the result of four years of development by the Jollies. They say they will use the new capital to accelerate the company’s plan to “revolutionize” the game of pool using ball tracking and AI-powered gameplay to create “endless possibilities” for every pool table.
“Poolhouse combines our patented technology with a vibrant, vintage Las Vegas-inspired ambiance, offering guests of all skill levels an engaging experience with a diverse library of interactive pool games,” say the founders.
The drink selections ares being curated with the Venning brothers from Three Sheets, a staple on the World’s 50 Best Bars list, who have helped define the cocktail culture in London and beyond for the last decade, according to Poolhouse officials.
Poolhouse will roll out its venues over the coming months, starting with a 21,500-square-foot site by London’s Liverpool Street Station, the U.K.’s busiest rail station. The company also will license its technology to hospitality operators around the world, with discussions progressing in the Middle East, North America, southeast Asia, and Europe.
“Poolhouse is the most ambitious and scalable concept my brother and I have created, representing the pinnacle of our lifelong work,” says Steve Jollie, co-founder of Poolhouse. “Today, more people play at Topgolf than on traditional golf courses in the U.S., 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 endeavor yet.”
To lead the Poolhouse project, the Jollies have hired Irish CEO Andrew O’Brien, board member at F1 Arcade and formerly of Credit Suisse; and COO Matt Fleming, who has held senior positions at Vagabond Wines and Be At One.
The rest of the senior team brings experience from industry leaders such as Puttshack, Bounce, Flight Club, and Swingers. Leading the culinary vision is a former executive chef from the Gordon Ramsay Group.
