Overview
- Nex disclosed Thursday that it raised more than $150 million through a Series E led by Baillie Gifford and BAI Capital, with participation from NBA Investments, Logitech, Medici Capital Partners, the Raine Group, and a JPMorgan credit facility to fund global expansion.
- The company has sold over one million Nex Playground units and is approaching one million Play Pass subscribers, reporting high attach and renewal rates that exceed 90% for some cohorts.
- Nex operates a curated catalogue of roughly 60 family-focused titles and has added licensed partners including Sega and Bandai Namco while major publishers have approached the company about porting Kinect and Wii-era games.
- The firm is distributed across thousands of U.S. retail locations and plans an official Germany release later this year, using omnichannel retail and social discovery to build demand ahead of planned Japan and South Korea launches in 2027.
- Hardware component and memory shortages forced U.S. retail price growth from $249 to $299 earlier this year, and Nex says it is absorbing some cost increases while keeping Play Pass subscription pricing at $89 per year or $49 per quarter.