Nex Playground announces $150m in new funding as hardware sales pass one million

Nex Playground has raised $150 million in new funding to fuel international expansion and bolster its growing hardware sales. The company's family-oriented active console has surpassed the one-million-unit sales mark, with its subscriber base nearly reaching one million active users within the past 18 months. Nex anticipates crossing the million-subscriber threshold by year-end.

The Series E funding round was co-led by Baillie Gifford and BAI Capital, with participation from NBA Investments, Logitech, Medici Capital Partners, and the Raine Group. A new credit facility with JPMorgan was also secured. These funds will be allocated to international expansion, including entry into Germany later this year and Japan and Korea in 2027, as well as inventory, supply chain, and go-to-market initiatives.

Nex will continue prioritizing growth in the US, UK, and Ireland. The company's President, Thomas Kang, revealed that the UK launch is outpacing forecasts, signaling a strong start. To support its leadership team, Nex has appointed former Niantic and Zynga executive Jeff Shouger as CFO, joining the board of directors alongside veteran gaming and technology executive Bing Gordon.

Nex CEO and co-founder David Lee emphasized that families have timeless needs that Nex Playground addresses, such as movement, growth, connection, and fun. He stated that the console aims to be a 100-year company and that the investment will help bring active play to millions more families worldwide. Lee highlighted that long-term investors are excited about the console's potential to delight customers and compound value over many years, a rare occurrence in the gaming industry.

Baillie Gifford's Alexander Nicolier added that Nex is demonstrating the family room can once again become a place of laughter, entertainment, and togetherness through active play. The console offers an easy way for families to move while providing a growing library of subscription-based games to build lasting relationships with its users.