Level99 has secured an additional $50 million growth equity commitment from Act III Holdings to accelerate its national expansion. The new capital doubles Act III’s follow-on investment commitment to $100 million following an initial $50 million commitment made at the end of 2025.
Act III has served as Level99’s sole equity partner since the entertainment company’s inception. The increased commitment follows the opening of Level99’s Disney Springs location in Lake Buena Vista, Florida, in June 2026.
Level99 operates large interactive entertainment venues featuring more than 50 proprietary physical and mental challenges. Each location combines life-sized games with chef-driven food and beverage offerings.
The company plans to use the capital to secure locations in high-visibility markets and support new venues already under development. Level99 expects to open in West Hartford, Connecticut, in late 2026.
Additional locations are planned for Paramus, New Jersey; King of Prussia, Pennsylvania; and Raleigh, North Carolina, in 2027. After those launches, Level99 intends to open four venues annually beginning in 2027.
Level99 opened its first location in Natick, Massachusetts, in 2021. It subsequently expanded to Providence, Rhode Island, in 2024 and Tysons, Virginia, in 2025.
Each venue spans approximately 35,000 to 50,000 square feet and contains more than 30 hours of interactive content. Its experiences are divided among Challenge Rooms, competitive Duels and Hunt Art scavenger hunts.
Challenge Rooms require teams to complete collaborative physical or mental tasks to earn digital Stars. Duels create direct player-versus-player competitions within an open arena, while Hunt Art encourages visitors to find hidden details within artwork throughout the venue.
Visitors receive digital profiles that track progress, achievements, rewards and leaderboard positions across multiple visits. This structure applies progression and replay mechanics commonly associated with video games to physical entertainment experiences.
The venues also offer food and drinks, including Detroit-style pizza, wagyu burgers, cocktails and craft beer. Level99 believes the hospitality component encourages customers to stay longer and makes the locations suitable for social gatherings and repeat visits.
Act III Holdings is a $2 billion evergreen investment vehicle founded by former Panera Bread CEO Ron Shaich. It invests in emerging restaurant, entertainment and technology companies and provides strategic support as they expand.
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 re-playable 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
