Level99, an immersive entertainment and dining concept, has secured an additional $50 million in growth equity from its sole partner, Act III Holdings. This new investment doubles a previous commitment, bringing the total follow-on funding from the firm to $100 million. The capital injection is earmarked to accelerate the company's ambitious expansion plans across the United States.
A Vote of Confidence in Experiential Entertainment
The investment comes from Act III Holdings, the firm founded by Panera Bread visionary Ron Shaich, who has been Level99's exclusive equity partner since its inception. This latest funding round underscores a deep belief in the company's potential to redefine the entertainment landscape. Shaich described the concept as one of the most exciting he has encountered in his career.
This financial commitment follows the highly successful launch of Level99’s newest venue at Disney Springs in Florida, which exceeded all performance expectations. The strong opening reinforced the concept's broad appeal and gave both companies the confidence to pursue more aggressive growth. The new capital will directly fuel this expansion, allowing the company to secure premium locations in major markets.
Redefining the 'Eatertainment' Landscape
Level99 distinguishes itself by offering large-scale venues filled with proprietary physical and mental challenges inspired by video games. Guests engage in cooperative Challenge Rooms, competitive Duels, and scavenger hunts, with their progress tracked via a digital profile. This system encourages repeat visits by allowing players to unlock new content and climb leaderboards over time.
Beyond the interactive games, the company places a strong emphasis on its premium hospitality offerings. The venues feature a chef-driven menu with items like Detroit-style pizza and wagyu burgers, complemented by a full bar with craft cocktails. This dual focus on high-quality food and immersive entertainment aims to create a comprehensive social destination.
Ambitious Nationwide Expansion Plans
With the fresh capital, Level99 is set to significantly increase its national footprint, which currently includes four locations. A new venue is scheduled to open in West Hartford, Connecticut, later this year, with three more planned for 2027 in New Jersey, Pennsylvania, and North Carolina. The company's long-term strategy involves launching four new locations annually beginning in 2027.
Founder and CEO Matt DuPlessie stated that the investment validates the company's vision and business model. He emphasized that the support from Act III will enable Level99 to secure the best real estate in top markets. This strategic positioning is crucial for establishing the brand as a premier destination for active, social entertainment.
The expanded $100 million commitment from Act III Holdings firmly positions Level99 to become a dominant force in the experiential entertainment sector. By blending replayable, real-world gaming with a sophisticated dining experience, the company is poised for significant growth. This strategic investment ensures Level99 has the resources to execute its vision of creating a new category of social entertainment nationwide.