Level99 has secured an additional $50 million growth equity commitment from Act III Holdings to accelerate its expansion across the United States. The new investment brings Act III’s total follow-on commitment to Level99 to $100 million, including the $50 million committed at the end of 2025.
Act III has served as Level99’s sole equity partner since the entertainment company was founded. The increased commitment follows the June 2026 opening of Level99’s location at Disney Springs in Lake Buena Vista, Florida.
Level99 operates interactive entertainment venues featuring more than 50 proprietary physical and mental games. Each location combines life-sized challenges with restaurant and bar offerings.
The company plans to use the additional capital to secure prominent real estate and open locations in major markets.
A West Hartford, Connecticut, venue is scheduled to open in late 2026. Level99 is also developing locations in Paramus, New Jersey; King of Prussia, Pennsylvania; and Raleigh, North Carolina, for 2027.
Following those openings, the company plans to launch four additional venues annually beginning in 2027.
Level99 opened its first location in Natick, Massachusetts, in 2021. It added locations in Providence, Rhode Island, in 2024 and Tysons, Virginia, in 2025 before expanding to Disney Springs.
Each venue occupies approximately 35,000 to 50,000 square feet and contains more than 30 hours of original interactive content.
The experiences are divided into three primary categories. Challenge Rooms require teams to work together to complete physical and mental tasks, while Duels involve direct player-versus-player competition.
Hunt Art is an art-based scavenger hunt that encourages visitors to explore the venue and identify hidden details.
Each customer receives a digital profile that records achievements, progress and rewards across visits. The system allows players to appear on leaderboards and unlock additional content, creating repeat-visit mechanics similar to those used in video games.
Level99 supplements its games with food and beverage offerings that include Detroit-style pizza, wagyu burgers, cocktails and craft beer. The company positions its venues as social and hospitality destinations rather than traditional arcades.
Act III Holdings is a $2 billion evergreen investment vehicle founded by former Panera Bread CEO Ron Shaich. Its portfolio includes restaurant, entertainment and technology companies such as Tatte Bakery, Life Alive Organic Café and Honest Greens Barcelona.
KEY QUOTES:
“This additional investment commitment from Act III further validates our vision and demonstrates the strength of our business model as we work to create this new category of entertainment, with Level99 as the clear quality leader.”
“The successful launch at Disney Springs exceeded expectations and underscores how much Level99 resonates with a broad consumer base across geographies.”
“With the Act III team’s continued support and capital, we’re positioned to sign the best real estate in top markets and establish Level99 as the premier destination for real-world, social, active entertainment.”
Matt DuPlessie, Founder and CEO of Level99
“Level99 represents one of the most exciting concepts I’ve encountered in my career, and we believe it’s incredibly well-positioned to transform the entertainment landscape.”
“Matt and his team have created a differentiated, endlessly replayable experience that combines the engaging mechanics of video games in the real world with the social energy of a premium hospitality venue that has already established a passionate community of consumers.”
Ron Shaich, Chairman of Level99 and Founder of Act III Holdings
