- Loop Golf enables golfers to book tee times at their
favorite local courses - automatically
- Funding led by Jason Calacanis' LAUNCH Fund with
participation from other notable early-stage investors including
Joel Simkins of XST Capital Group,
Colin Anderson of Friends &
Family Capital, Harry Campbell of
The Rideshare Guy, and Mike Russo of
SparkOffer
- Over 3,000 courses in the U.S. are available on Loop's
platform including premium courses like Torrey Pines and Bethpage that are not
available elsewhere
- Partnerships with Lightspeed and ForeUp show momentum
and belief in the product
- Founded by former Product executives at CarGurus,
Houzz, and Zillow
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
investors@loopgolf.co
|
Anthony Steel, Steel
Comms for Loop Golf
379270@email4pr.com
917-803-1990
|
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SOURCE Loop Golf