Nex has successfully closed a $150 million financing round while its family‑focused active‑gaming console, the Nex Playground, has now sold more than one million units worldwide. This dual milestone underscores the company’s rapid ascent in the interactive entertainment market and signals a strong appetite for hardware that encourages physical activity among households. Over the past year and a half, the Nex Playground’s subscription base has expanded dramatically, growing seven times larger than it was 18 months ago.
The platform is now on the cusp of reaching one million active subscribers, and company leadership expects to cross that threshold before the year ends. This surge reflects both the growing popularity of the console’s motion‑based games and the broader trend of families seeking healthier, more engaging ways to spend time together at home. The latest Series E round was co‑led by Baillie Gifford and BAI Capital, with participation from a roster of strategic investors that includes NBA Investments, Logitech, Medici Capital Partners, and the Raine Group. In addition to equity funding, Nex secured a new credit facility from JPMorgan, providing the company with flexible capital to support its ambitious growth plans.
The fresh capital will be deployed across several key initiatives. International expansion sits at the top of the agenda, with Nex planning to launch the Playground in Germany later this year, followed by market entries in Japan and South Korea slated for 2027.
These moves are designed to tap into regions where active, family‑centric gaming has strong cultural resonance. The funding will also bolster inventory management, supply‑chain resilience, and go‑to‑market strategies, ensuring that the company can meet rising demand without disruption.
Domestically, Nex will continue to double down on its core markets of the United States, the United Kingdom, and Ireland. President Thomas Kang recently told GamesIndustry.biz that the UK rollout is "beating forecasts, which is a good sign," highlighting the brand’s ability to exceed expectations in mature markets as well as emerging ones.
Alongside the financing announcement, Nex has strengthened its executive team. Jeff Shouger, who previously served as CFO at Niantic and held senior roles at Zynga, has been appointed chief financial officer. Shouger will also take a seat on the board of directors, joining veteran gaming and technology executive Bing Gordon, whose experience spans decades of building and scaling entertainment businesses.
Their combined expertise is expected to guide Nex through its next phase of growth and operational excellence. "Families have timeless needs: to move, grow, connect, and have fun.
The response to Nex Playground has shown us that active play can serve those needs at a meaningful scale," said David Lee, Nex’s CEO and co‑founder. "We are building Nex to be a 100‑year company.
This investment gives us the resources to bring active play to millions more families around the world, and Jeff and Bing bring extraordinary experience building enduring gaming and technology companies. I'm thrilled to have them with us for this next chapter." Alexander Nicolier, a private‑companies investor at Baillie Gifford, added his perspective on the partnership: "Through active play, Nex is showing that the family room can once again become a place of laughter, entertainment and togetherness.
The console makes it remarkably easy for families to get up and moving, while a growing library of games available through subscription gives Nex the opportunity to build a lasting relationship with them. As long‑term investors, that combination is particularly exciting: we are backing a company that can continue to delight its customers while compounding value over many years. That is rare in gaming." Nex’s strategy hinges on a hardware‑plus‑software model that encourages recurring revenue through its subscription service. By continuously adding new titles and experiences, the company keeps users engaged and creates a virtuous cycle where hardware sales drive subscriptions, and subscription revenue funds further hardware development.
This approach mirrors successful models in other tech sectors and positions Nex as a potential long‑term player in the gaming ecosystem. Looking ahead, the company plans to broaden its game library, integrate more sophisticated motion‑tracking technology, and explore partnerships with educational content providers to further enrich the Playground’s offering. The goal is to make the console not just a source of entertainment, but also a tool for learning, fitness, and social interaction. In summary, the $150 million injection, combined with a new credit line and a bolstered leadership team, equips Nex Playground to accelerate its global footprint, deepen its product ecosystem, and pursue the vision of becoming a centennial‑old brand that redefines family gaming for generations to come.