Nex Playground Secures $150 Million in Funding as Hardware Sales Pass One Million

Nex has secured $150 million in a Series E funding round co-led by Baillie Gifford and BAI Capital. Additional participation came from NBA Investments, Logitech, Medici Capital Partners, and the Raine Group, while Nex Team also secured a new credit facility with JPMorgan. The funding announcement coincides with hardware sales for the family-oriented active console, Nex Playground, exceeding one million units.

Alongside the financial investment, Nex announced that former Niantic and Zynga executive Jeff Shouger has been appointed as Chief Financial Officer and will join the board of directors. Veteran gaming and technology executive Bing Gordon is also joining the board. Nex CEO and co-founder David Lee stated that the investment provides the resources to bring active play to millions of families globally.

The company plans to use the funding to support international expansion, inventory, supply chain, and go-to-market initiatives. Nex intends to enter Germany later this year, followed by Japan and Korea in 2027, while continuing to prioritize growth in the United States, United Kingdom, and Ireland. President Thomas Kang noted that the UK launch is beating forecasts.

Nex Playground has experienced significant subscriber growth, with its subscriber base increasing sevenfold over the past 18 months to nearly one million active subscribers. The company anticipates surpassing one million active subscribers by the end of the year.