Nex raises over $150m to take Nex Playground global
| Date | Type | Companies Involved | Size |
|---|---|---|---|
| Sep 21, 2026 | investment | Nex | $150m |
- The platform’s subscriber base has grown sevenfold in 18 months and is approaching 1m subscribers.
- Germany is planned for later this year, while Japan and Korea are targeted for 2027.
Nex has raised more than $150 million in new equity and debt financing to expand the reach of its Nex Playground console across the globe.
The company said it will also use the capital to broaden retail distribution and grow its content ecosystem with gaming and entertainment partners.
The financing includes a Series E led by Baillie Gifford and BAI Capital, with participation from NBA Investments, Logitech, Medici Capital Partners and the Raine Group, alongside a new credit facility from JPMorgan.
The financing comes after Nex Playground surpassed 1m units sold, with the system now distributed across more than 7,000 US retail locations including Costco, Sam’s Club, Target, Walmart and Best Buy.
Nex claims that its subscriber base has also grown sevenfold over the past 18 months and is approaching 1m subscribers, a milestone the company expects to pass by the end of 2026.
Global expansion
Nex Playground currently offers more than 60 games spanning music, sports, fitness, party and learning, including experiences featuring Bluey, Barbie, Kung Fu Panda and Peppa Pig.
Upcoming content includes NFL Flag, Dude Perfect Trickshot Challenge and Pac-Man with Bandai Namco Entertainment. The company is also developing Connected Play, which will allow families to play together across different households and distances.
Following expansion into Canada, the UK and Republic of Ireland, Germany is planned for later this year, with Japan and Korea targeted for 2027.
Nex has also appointed former Niantic CFO Jeff Shouger as CFO, with Shouger and gaming industry veteran Bing Gordon joining its board.
“Families have timeless needs: to move, grow, connect, and have fun," said Nex CEO and co-founder David Lee.
"The response to Nex Playground has shown us that active play can serve those needs at a meaningful scale. 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."
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