Level99 Expands with $50 Million Growth Funding
Level99, a Natick, Massachusetts-based company known for its large-scale interactive entertainment venues, has announced a $50 million growth funding round. The round was led by Act III Holdings, marking a significant investment aimed at expanding Level99's footprint across the United States. Founded by Matthew DuPlessie, who also serves as the company's President and CEO, Level99 offers a unique entertainment experience with over 50 life-sized mini-games including axe dodging, puzzle solving, and various challenges, all accessible with a single ticket.
Strategic Expansion Plans
The newly acquired funds will primarily be used to secure locations in high-visibility markets and support the development of new venues. Level99 recently opened a new location at Disney Springs in Lake Buena Vista, Florida, and plans to continue this momentum with an upcoming venue in West Hartford, Connecticut, slated for late 2026. Further expansion is planned for Paramus, New Jersey; King of Prussia, Pennsylvania; and Raleigh, North Carolina, in 2027. Starting in 2027, the company aims to open four new venues annually.
Venue Features and Offerings
Each Level99 location spans approximately 35,000 to 50,000 square feet and offers more than 30 hours of interactive content. The venues are designed to blend physical and mental challenges in various formats such as Challenge Rooms, competitive Duels, and Hunt Art scavenger hunts. Participants can track their progress through digital profiles that record achievements and leaderboard positions, adding a video game-like progression system to the physical experience.
In addition to the interactive games, Level99 locations offer a variety of food and beverage options, including Detroit-style pizza, wagyu burgers, cocktails, and craft beer. This hospitality component is intended to encourage longer stays and make the venues ideal for social gatherings and repeat visits.
Lead Investor: Act III Holdings
Act III Holdings, led by former Panera Bread CEO Ron Shaich, is a $2 billion evergreen investment firm that focuses on emerging restaurant, entertainment, and technology companies. The firm has been a sole equity partner for Level99 since its inception, and this latest investment doubles their commitment to $100 million. This partnership has been crucial in supporting Level99's national expansion strategy.
With this substantial funding, Level99 is well-positioned to expand its unique entertainment venues, offering adults a playground-like experience with a variety of engaging activities and social opportunities.