Full Breakdown
Another Nine Secures $2 Million to Accelerate Franchise Expansion
5/8/2026, 11:45:55 PM
Funding Round Completed
In April, the Covington-based indoor golf simulator startup Another Nine closed a $2 million investment round. The capital was supplied exclusively by the company’s existing investor base, according to co-founder and chief executive officer Ethan Grob. The proceeds are earmarked for expanding the firm’s franchise network and increasing headcount.
Background & Growth Trajectory
Another Nine operates 24/7 indoor golf simulators and has entered a rapid growth phase that includes opening dozens of franchise locations nationwide. The infusion of new capital follows a period of steady expansion, positioning the company to broaden its market presence while scaling operational capacity.
Key Figures & Groups
Ethan Grob, who co-founded Another Nine and serves as its CEO, is the primary spokesperson for the funding announcement. The investor group consists of prior backers of the venture; specific individuals or firms were not disclosed.
Timeline
- April 2024: Completion of the $2 million funding round.
- By year-end 2024: Projected increase in full-time staff from seven to between fourteen and seventeen employees.
Data & Statistics
- Funding amount: $2 million.
- Current staff: Seven full-time employees.
- Target staff: 14-17 employees by the end of 2024.
- Franchise rollout: Dozens of sites slated for opening across the United States (exact count not provided).
Official Statements & Responses
Grob indicated that the new financing will be directed toward team expansion and the rollout of additional franchise locations. He emphasized that the investment originated from existing supporters, underscoring continuity in the company’s capital structure. The CEO also noted that the identities of the investors will remain confidential.
Criticism & Opposition
No dissenting viewpoints or criticisms were reported in the source material.
Conflicting Reports & Gaps
The sources do not disclose the names of the investors, leaving a gap in public knowledge about the specific parties contributing to the round.
Verbatim Quotes
- “Funding came entirely from its existing investor base, co-founder and CEO Ethan Grob said.” — Ethan Grob, Co-founder & CEO, Another Nine
- “The capital will be used to expand its team – Another Nine has a full-time staff of seven now, but Grob expects to hit 14 to 17 employees by the end of the year.” — Ethan Grob, Co-founder & CEO, Another Nine
- “He declined to name the individuals or firms involved.” — Ethan Grob, Co-founder & CEO, Another Nine
What’s Next
The company plans to leverage the newly raised funds to accelerate the opening of additional franchise locations and to recruit the projected staff increase before the close of 2024. These steps are intended to solidify Another Nine’s footprint in the indoor golf simulator market and to sustain its current growth momentum.
