NEW YORK – LineLeap, a platform that allows users to skip lines at bars and venues, said on Tuesday it closed a funding round that values the company at $200 million and has raised over $30 million in total capital.
The round attracted strategic investors including Silicon Valley accelerator Y Combinator, music duo The Chainsmokers, and a consortium of owners from the NHL and NFL, alongside entertainment industry executives, the company said.
Founded in 2017, LineLeap began as a college project to solve long waits at bars. It has since expanded into a broader platform used by more than 1.5 million people across 700 venues in over 150 cities and college campuses in the United States.
“We started LineLeap to solve a problem we experienced firsthand, and it has since grown into a nationwide platform,” said Co-Founder and CEO Patrick Skelly.
The company’s mobile app lets users bypass lines, pay cover charges, and purchase event tickets. For partner venues, it provides a customer relationship management (CRM) system to help with marketing and customer engagement.
The platform is also positioning itself as a key marketing channel for brands looking to connect with Gen Z and Millennial consumers. LineLeap creates targeted experiences and promotions for this demographic at the venues they frequent.
Alex Pall of The Chainsmokers, an investor in the round, said the group saw an “incredible opportunity to marry technology with the hospitality industry.”
“As LineLeap has proven through its growth, there’s tremendous value to capture and create,” Pall said.
LineLeap said it will use the new capital to fuel further expansion and develop new product offerings. The company recently saw a surge in downloads, ranking as high as #6 in the U.S. App Store’s Social Networking category this fall.