Nex Playground Gaming Console Maker Raises More Than $150 Million in Funding, Niantic’s Jeff Shouger Joins as CFO

Nex, the corporate behind the popular family gaming console Nex Playground, has secured greater than $150 million in new financing to help growth throughout retail distribution and assist develop its content material ecosystem with main gaming and leisure companions.

According to Nex, the corporate plans to roll out “connected play,” which can enable households to play collectively on its fitness-centric gaming consoles throughout households and distances. Led by CEO David Lee, Nex additionally plans to increase throughout Europe and Asia, following its current growth into Canada, the U.Okay. and the Republic of Ireland. Nex will transfer into Germany later this yr, with Japan and Korea deliberate for 2027.

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Nex Playground’s present lineup consists of 60 video games, together with globally acknowledged franchises and characters equivalent to “Bluey,” Barbie, “Kung Fu Panda” and “Peppa Pig,” with experiences spanning music, sports activities, health, celebration and studying. The slate will proceed to develop this fall and vacation season with “NFL Flag,” “Dude Perfect Trickshot Challenge,” “PAC-MAN” with Bandai Namco Entertainment and extra.

The late-stage funding is available in the identical yr that Nex Playground crossed multiple million models offered, with the system now distributed throughout greater than 7,000 U.S. retail places, together with Costco, Sam’s Club, Target, Walmart and Best Buy. Nex’s subscriber base has grown sevenfold over the previous 18 months and is approaching 1 million subscribers, a milestone the corporate expects to surpass by year-end.

This new spherical of financing features 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 brand new credit score facility with JPMorgan.

Additionally, Nex has introduced on Niantic vet Jeff Shouger as its chief monetary officer and set Shouger and gaming and expertise trade veteran Bing Gordon as new members of the corporate’s board of administrators.

“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,” Lee stated. “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.”