Le Lézard
Classified in: Science and technology, Business, Sports and recreation, Covid-19 virus
Subjects: PDT, VEN

Loop Golf Completes $1M Capital Raise to Revolutionize Golf Course Reservations

REDWOOD CITY, Calif., June 18, 2024 /PRNewswire/ -- Loop Golf (Loop), the online booking platform helping golfers get the best tee times at the busiest local courses, today announced it has completed a $1 million seed funding round that accelerates its mission of becoming the dominant marketplace to find and book any tee time at any course in the United States. Founded in 2021, Loop identified a significant gap in the market for a user-friendly, comprehensive platform that automates the antiquated tee-time booking experience for golfers in the U.S.

Loop's platform automatically books the tee times golfers want, when they want. Golfers set their tee time preference, Loop monitors the Tee Sheet 24/7 and automatically books a matching slot as soon as it becomes available - including while golfers are asleep or unavailable.

Over 3,000 courses in the U.S. are currently supported on Loop's platform including premium courses such as Torrey Pines and Bethpage that are not available elsewhere in the market. Loop has also created strategic partnerships with leading industry software and point-of-sale systems such as Lightspeed and ForeUp to solidify its position as the tee-time marketplace of choice.

The funding was led by Jason Calacanis' LAUNCH with participation from major figures across finance, tech and sports including Joel Simkins, CEO & Founder, XST Capital Group; Harry Campbell, Owner, The Rideshare Guy; Colin Anderson, Founding Partner at Friends & Family Capital; and Mike Russo, Founder, SparkOffer.

Market context

Tee times are one of the largest sources of annual revenue in the $102 billion golf industry. They are an essential need and therefore the most frequent transaction for every public golfer. Yet it is next to impossible to book tee times at public courses in America due to the explosion in the game's popularity post-COVID-19 which saw 531 million rounds played at U.S. courses in 2023.

On top of that, the nation has not seen net-new golf course growth in decades so the current supply cannot keep up with the increasing demand. Additionally, outdated technology and booking practices have reduced availability even further leaving golfers stranded and frustrated without a tee-time.

Loop Golf is the solution

Loop automates the antiquated tee-time booking experience for golfers in the U.S. We book. You play.

Harry Campbell, Owner, The Rideshare Guy, commented: "As many of us regular golfers can attest, the tee-time booking experience is broken. Thankfully, every once in a while, something truly transformational arrives. With Loop Golf, we believe we are witnessing the next evolution of online booking. Matt and his team are innovative entrepreneurs who have created a generational product. As an early customer turned proud investor, they have our wholehearted support as we embark on this journey together."

Matthew Holder, Founder at Loop Golf, said: "Loop Golf has built the first and only fully automated booking platform for golfers and golf courses. We were frustrated with how long it took trying to book a tee-time the old way. So, we created Loop which automatically books your preferred tee time the moment it becomes available. Competitors' business models are entirely different because they need the courses to give them a tee time - Loop doesn't. We book - you play. This funding allows us to scale our platform, enhance our technology and offer more access for golfers nationwide. Get ready for a better way to golf, when and where you want it!"

Joel Simkins, CEO & Founder, XST Capital Group, said: "Loop brings fresh thinking to a stale tee time booking experience in the golf industry. We look forward to our continued partnership with Matt and his team as they democratize access for golfers in the States."

Loop was born from the founding team's shared annoyance with the laborious process of finding available tee times at public courses in the States. They thought there had to be a better way and duly set about creating Loop.

About Loop Golf

Loop gives golfers the power to automatically reserve prime tee times at the best courses. Our innovative apps are revolutionizing the way golfers experience the game they love, one loop at a time. We book. You play.

For further information, please visit loopgolf.co or find us on X, LinkedIn and Instagram.

Investor Contact                                     

Media Contact

Please reach out to [email protected]   

Anthony Steel, Steel Comms for Loop Golf
[email protected]

SOURCE Loop Golf

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