Level99 Lands Another $50M Investment From Panera Founder Ron Shaich
Level99 secures $50M funding to accelerate its national expansion in the eatertainment sector.
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Level99 has received an additional $50 million investment from Act III Holdings, led by Panera's Ron Shaich, totaling $100 million in growth equity. This funding follows a successful launch at Disney Springs and supports an aggressive development pipeline across multiple states, with venues planned for West Hartford, Paramus, King of Prussia, and Raleigh.
Why It Matters
This investment signifies strong confidence in Level99's business model, suggesting potential territory compression in the interactive entertainment market as it scales rapidly, which may impact franchisee opportunities and competitive positioning in the eatertainment space.
Level99, an interactive entertainment concept, has successfully secured an additional $50 million investment from Act III Holdings, led by Panera founder Ron Shaich. This new funding increases the total investment from Act III to $100 million, following an earlier $50 million commitment made at the end of 2025. The boost in capital comes after Level99's recent opening at Disney Springs in Lake Buena Vista, Florida, which the company reported as exceeding expectations and positioned it well for accelerated expansion.
According to Founder and CEO Matt DuPlessie, the strong performance at Disney Springs demonstrates the broad appeal of Level99 across various markets. He emphasized, “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 company aims to establish a unique niche in the eatertainment sector, combining large-scale attractions with a robust food and beverage offering.
Level99 venues range from 35,000 to 50,000 square feet and feature more than 50 proprietary challenges in themed rooms and competitive settings. The interactive experiences are enhanced by digital profiles that track guest progress, encouraging repeat visits. The dining menu includes chef-created options like Detroit-style pizza and wagyu burgers, positioning each location as both an entertainment site and a culinary destination.
Looking ahead, the newly acquired funds will drive an ambitious development plan. Level99 has already scheduled openings in West Hartford, Connecticut, for late this year, followed by additional sites in Paramus, New Jersey; King of Prussia, Pennsylvania; and Raleigh, North Carolina, all by 2027. The company plans to add four new locations annually starting in 2027.
Shaich's continued investment reflects strong confidence in the business, noting last fall's $50 million infusion based on Level99's high repeat visitation and sound unit economics. He remarked, “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.”
The pace of Level99's expansion will depend on the effectiveness of its funding and execution of its real estate strategy throughout 2027.
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