‘Eatertainment’ Mafia of Sports Strikes Again: Poolhouse
Steve and Dave Jolliffe - twin-brothers that are rightfully crowned the Dons of Eatertainment - just raised an insane $34M Seed to launch Poolhouse - a next-gen entertainment concept reimagining the game of pool through gamification and AR-infused features.
These guys are cracked:
Co-Founded Topgolf in 2000, which merged with Callaway in 2021 at a $2.1B Valuation
Scaled to 108 worldwide location (96 domestic, 12 international)
Captured 85%+ market share in tech-enabled golf entertainment
Incepted Puttshack, and raised $60M in 2021 + $150M in October 2022 from BlackRock
Operates 20 locations globally (16 U.S., 4 U.K.)
They’ve also assembled a stacked team - alums from Puttshack, Bounce, Flight Club, Swingers, and even a former Gordon Ramsay Group Executive Chef. It’s clear the Jolliffe brothers know how to build for the “competitive socializing” generation of younger consumers who want more than just dinner and drinks.
The Vision for Poolhouse
Funding Round: While deal terms weren’t fully disclosed, the round was co-led by Sharp Alpha, DMGT (parent company of Daily Mail), and David Blitzer with participation from Simon Sports and Active Partners. The Jolliffe’s raised via a SAFE note, with plans to raise a Series A in 2026.
First Venue: London, 2026
21K sq. ft., two-story space next to Liverpool Street Station
20 pool table & a premier food & beverage service
Classic pool tables + proprietary AR-enhanced tables to supercharge gameplay
The longer a guest stays, the higher their lifetime value.
The same “gamification” playbook at Topgolf will be used at Poolhouse. Instead of all the tables being the same, a set number of digitized tables will have superimposed images where people can play various game types - and their tech allows players to track their skill & progress, similar to golf’s handicap system. These gamification levers can make casual play sticky and encourage longer visits, translating into more spend on food, drinks, and recurring visits.
Reasons to Be Bullish
As they’re opening their first location in the UK., we see a real long-term opportunity for U.S. expansion:
Death of Traditional Pool Halls: Pool Hall closures in the U.S. rose 20% from 2010-2020, with many struggling owners citing higher rent and lower spend by “serious” players on large-format 9ft tables. Poolhouse can bring in casual players in the fold by coupling smaller 7 ft. tables with hybrid venues (bars, entertainment complexes).
Massive Market Tailwinds: The global leisure facilities market hit $315B in 2023 and is projected to reach $400B by 2030. U.S consumer spending on experiential activities hit $93B in 2023.
Proven Founder-Market Fit: Steve and Dave’s Topgolf was a major success - each Topgolf venue generates $20M-30M on a 65K sq. ft. footprint. Poolhouse’s leaner 21K sq. ft. footprint could imply even lower fixed costs and potentially stronger margins.
Franchise & Licensing Ready: They’ve already locked in a franchising agreement with Australia’s Signature Hospitality Group and plans to license Poolhouse’s AR tech to traditional pool halls, casinos, restaurants, and apartment complexes. The vision goes far beyond just a flashy venue.
What Gives Us Pause
High Capex: Identical to our take with Cosm, entertainment facilities have real upfront costs - real estate, renovations, tech integrations, F&B buildout, staffing, and brand marketing. Total setup costs per venue could range anywhere from $3.2M-$7.9M.
Scaling to Old-School Pool Tables: It's unclear what the actual tech will look like and if pool players will enjoy it. While licensing out the technology to traditional pool tables seems like an obvious win-win, it’s a big ‘Maybe’ if they will actually buy it.
Final Thoughts
If this came across our desks, we would’ve invested. At a pre-product & pre-revenue stage, you bet on the founders - and these two have proven they can build, scale, and dominate in the eatertainment market. Despite our general hesitations about entertainment real estate plays from an investment POV, it’s hard to see Poolhouse losing.
Sports-Tech Market Activity: Investors & Deals
Venture Capital
Midnite, a London, UK-based sportsbook and casino platform, raised $10M in Series B funding (Apr. 14th)
The platform leverages a customer-centric approach, delivering a player experience while maintaining safety standards
Investment was led by Discerning Capital, Raine Group, and Play Ventures; other investors include Venrex and Big Bets [FinSMEs]
Poolhouse, a new venture from Topgolf founders to develop modern entertainment clubs around the game of pool, has raised $34 million (Apr. 14th)
Incorporating augmented reality technology to broaden the appeal of the pool-playing experience
Investment was led by Sharp Alpha Advisors and DMG Ventures [VentureBeat]
Faume raises €8M in funding to expand its luxury fashion resale platform across Europe (Apr. 14)
Enables luxury fashion brands to launch branded resale channels within 4 to 8 weeks, offering full control over pricing, branding, and inventory.
Partnered with over 45 brands, including Isabel Marant, Lacoste, and Victoria Beckham
Investment led by Amundi Private Equity Transition Juste; other investors include Daphni and Bpifrance's Digital Venture Fund [FinSMEs]
Arcana Labs, an AI-driven content production studio, raises $5.5M to launch AI-powered content production platform (Apr. 16)
The investment will support the development of Arcana AI, an all-in-one platform offering over 21 tools for AI-generated image, video, and audio content creation
Plans to expand its services with Arcana Productions, assisting brands and studios in AI-enhanced content creation, and Arcana Academy, an initiative aimed at educating filmmakers on directing with AI technologies
M&A and Investments
Named a runner-up for Apple’s 2024 App of the Year, Runna offers personalized training plans by blending AI with coach-led guidance to help users improve performance and reach new goals
Strava plans to keep both apps separated - but recent moves like bundling with running prehab app Recover Athletics and testing an AI insights engine, suggest future integrations is likely [Fitt Insider]
Infinite Reality acquires agentic AI firm Touchcast for $500M to enhance AI-driven immersive experiences (Apr. 16)
Acquisition follows Infinite Reality's recent purchase of Napster for $207 million, bringing the company's valuation to $15.5 billion
Touchcast offers AI-generated human-like avatars capable of engaging in natural, face-to-face video conversations, with applications including customer support and sales
Integrating Touchcast's technology to enhance Infinite Reality's offerings, such as enabling Napster subscribers to create immersive social listening spaces and providing AI agents for music playlisting and community management [VentureBeat]
Leonard Green & Partners (LGP) acquired a majority interest in Crunch Fitness from TPG Growth and other minority shareholders (Apr. 15th)
Since TPG’s 2019 investment, Crunch has signed up 2.1M exercisers, eclipsing 500+ gyms and 3M members
CEO Jim Rowley is pushing aggressive expansion, both domestically and internationally; intends to open two gyms per week [Fitt Insider]
Futureverse, a developer of web3 & AI ecosystem, acquires Candy Digital, a next-generation fan experience platform, to build AI-powered fan experiences (Apr. 16th)
Candy Digital sells digital collectibles based on brands like Major League Baseball (MLB), Netflix, and more
Futureverse plans on injecting its state-of-the-art AI and metaverse technology into Candy’s property, which includes over four million digital collectibles and a customer base of over 1.5 million accounts [VentureBeat]
Ari Emanuel’s consortium outbids CVC in a $1B deal for Madrid and Miami tennis tournaments (Apr. 11th)
The Madrid and Miami tournaments are key events in the ATP and WTA 1000 series, ranking among the top in global tennis outside of the Grand Slams
The deal is part of Endeavor Group Holdings' broader strategy to divest assets after being acquired by Silver Lake [Private Equity Insights]
AI content specialist WSC Sports acquires Infront Lab to expand into streaming and fan engagement (Apr. 17th)
The acquisition includes Infront Lab’s Engine 365 platform and clients such as CBS Sports, Champions Hockey League (CHL), and the Scottish Professional Football League (SPFL)
WSC Sports will add Stream Engine, an OTT platform, and Content Engine, a social media publishing and management system, to its product lineup [SportsPro]
Quantum Pacific Management acquires a 43% stake of the Movistar cycling team (Apr. 14th)
Quantum Pacific Management joins Abarca Sports founders Eusebio Unzué and Francisco Fernández Maestre as shareholders of the sports organization
Quantum-affiliated Eastern Pacific Shipping (EPS) signs a sponsorship deal with Abarca to provide both financial and logistical support to the team [SportsPro]
Dream Sports, the parent company of Dream11, is set to acquire stake in Cricbuzz, a leading cricket media platform (Apr. 17th)
Dream11 is in the final stages of acquiring a 15% stake in Cricbuzz for $50M
As one of India’s most visited cricket platforms, Cricbuzz will provide Dream11 with direct access to a highly engaged audience, particularly during major tournaments and the IPL [Entrackr]
Photo Creds: Strava acquires personalized run training platform Runna.
Strategic Ventures
Nike and Hyperice are set to release their new Hyperboot on May 17, following its debut at the 2024 Paris Olympics (Apr. 17)
High-tech footwear integrating heat and air compression to support foot and ankle recovery, refined with feedback from Olympic athletes
The product was fine-tuned in response to “overwhelmingly positive” feedback from Olympic athletes during the Paris Games [Forbes]
MLS unveiled a new multi-year extension of its partnership with TikTok (April 17th)
Building on their 2023 collaboration, TikTok will continue to offer exclusive MLS content, in-app programming, and match highlights
The platform will also keep its branding at all MLS venues, with joint content displayed on stadium jumbotrons [Sportcal]
NASCAR partners with Recast to stream PPV races in overseas markets (Apr. 11th)
Partnership will initially focus on Nascar Xfinity Series and Craftsman Truck Series
Streams will be available in dark markets where Nascar does not have a formal television deal [Sports Pro]
Stats Perform Becomes Official Data Partner of Canada's Northern Super League (Apr. 14)
Entered a three-year agreement to serve as the exclusive data partner for the Northern Super League (NSL), Canada's new professional women's soccer league, set to debut on April 16.
Partnership involves collecting detailed match data—including metrics like Expected Goals and Expected Assists—and distributing it through various platforms, including Stats Perform’s OptaAI Studio [Sportcal]
Major League Pickleball Partners with Gray Media to Expand 2025 Season Broadcasts (Apr. 15)
Coverage begins with MLP Orlando (Apr. 24–27) and MLP Columbus (May 1–4); matches will also stream on PickleballTV, co-run by Tennis Channel and UPA.
Will air 2025 matches in Atlanta, Carolina, Columbus, and St. Louis via local sports networks.
MLP retains 50% of ad inventory for local broadcast [MLP]
The United States Tennis Association (USTA) renews partnership with IMG in a deal that will take the long-running partnership beyond 15 years (Apr. 17th)
IMG and the USTA have been collaborating to expand the US Open’s international reach, fan engagement and overseas media rights since 2011
Agency will continue to represent and advise USTA on international media rights to tournament [SportsPro]
Job Board & Opportunities: Week of April 18th, 2025
Here are some cool roles we found and personally curated this week - enjoy!