Nex Raises $150M Series C+ Led by Baillie Gifford

Nex Secures $150M Series C+ to Expand Active-Play Gaming Platform

Nex, the San Francisco-based company behind Nex Playground, has raised $150 million in Series C+ funding. The round was led by Baillie Gifford and included participation from BAI Capital, The Raine Group, NBA Investments, Logitech, and Medici Capital Partners. The funding was announced on September 17, 2026.

What Nex Does

Nex builds Nex Playground, a controller-free family game console that uses camera-based motion tracking to turn physical activity into video games. The hardware is paired with a Play Pass subscription library of more than 60 active games spanning sports, fitness, dance, and learning.

The platform includes collaborations with major entertainment brands such as Bluey, Barbie, Peppa Pig, Sega, and Bandai Namco. Nex positions its product as a privacy-focused active-play option for kids and families.

Traction

According to the company, Nex has sold over 1 million consoles across approximately 7,000 US retail doors. Its subscriber base is approaching 1 million.

The Funding Round

• Round type: Series C+
• Amount: $150 million
• Currency: USD
• Date: September 17, 2026
• Lead investor: Baillie Gifford

Participating Investors

• Baillie Gifford
• BAI Capital
• The Raine Group
• NBA Investments
• Logitech
• Medici Capital Partners

Why This Matters

Nex operates at the intersection of family entertainment, fitness, and subscription gaming. Its controller-free approach removes a common barrier to entry for younger players, while the Play Pass subscription creates recurring revenue. The presence of strategic investors like Logitech and NBA Investments suggests potential for deeper integration with hardware and sports entertainment ecosystems.

With over 1 million consoles sold and a subscriber base approaching 1 million, Nex has demonstrated meaningful scale in the US retail market. The new capital is expected to support further growth, though specific plans were not disclosed.

Acquisition Angle

For acquirers, Nex offers a differentiated position in the family gaming and active-play market. Its combination of proprietary motion-tracking hardware, a subscription content library, and established retail distribution creates multiple avenues for strategic value. The involvement of Logitech, a major peripherals and gaming hardware company, and NBA Investments, which connects to sports and entertainment, highlights potential synergies across consumer hardware, content, and family-focused digital experiences.

As the market for active and educational gaming continues to evolve, Nex's privacy-focused positioning and brand partnerships may make it an attractive target for larger entertainment, toy, or technology companies looking to expand their presence in the family segment.