About Nex
Nex is a company based in San Jose (United States) founded in 2017 by Tony Sung, Reggie Chan, and David Lee. It operates as a Direct-to-Consumer (D2C) and Subscription Services. Nex has raised $37.5 million across 3 funding rounds from investors including NBA, Samsung Venture Investment and Susquehanna. Nex offers products and services including Nex Playground and Play Pass. Nex operates in a competitive market with competitors including Zwift, WayBetter, Rouvy, Augment Therapy and Bkool, among others.
- Headquarter San Jose, United States
- Founders Tony Sung, Reggie Chan, David Lee
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Sectors
HealthcareTechnology Media & Entertainment
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Email
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Phone
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Website
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Social
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- Legal Name Nex Team Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$37.5 M (USD)
in 3 rounds
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Latest Funding Round
$25 M (USD), Series B
Sep 21, 2021
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Investors
NBA
& 16 more
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Employee Count
Employee Count
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Products & Services of Nex
Nex offers a comprehensive portfolio of products and services, including Nex Playground and Play Pass.
A device transforming living rooms into play spaces.
Subscription for accessing full catalog of games monthly.
Funding Insights of Nex
Nex has successfully raised a total of $37.5M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $25 million completed in September 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $25.0M
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First Round
First Round
(01 Jun 2018)
- Investors Count 17
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2021 | Amount | Series B - Nex | Valuation | Blue Pool Capital | |
| Jun, 2019 | Amount | Series A - Nex | Valuation |
investors |
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| Jun, 2018 | Amount | Seed - Nex | Valuation | Charmides Capital , Mandra Capital |
Investors in Nex
Nex has secured backing from 17 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include NBA, Samsung Venture Investment and Susquehanna.
| Investor | Description | Founded Year | Domain | Location |
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US focused seed-stage VC firm
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Founded Year | Domain | Location | |
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Venture capital investments are made in promising startups.
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Founded Year | Domain | Location | |
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Diversified investment management is handled by SIG across multiple assets.
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Founded Year | Domain | Location |
Investments & Acquisitions by Nex
Financial Statements - Nex
Nex Comparisons
Competitors of Nex
Nex operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Zwift, WayBetter, Rouvy, Augment Therapy and Bkool, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Gamified indoor cycling training is delivered via an app-based platform.
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| domain | founded_year | HQ Location |
Provider of gamified health and wellness programs
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| domain | founded_year | HQ Location |
Indoor cycling simulations are offered via web-based application for training.
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| domain | founded_year | HQ Location |
Online platform offering paediatric physical therapy
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| domain | founded_year | HQ Location |
Interactive bicycle trainers and cycling simulators are provided by Bkool.
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Frequently Asked Questions about Nex
Nex was founded in 2017 and raised its 1st funding round 1 year after it was founded.
Nex is headquartered in San Jose, United States. It is registered at San Jose, California, United States.
David Lee is the current CEO of Nex. They have also founded this company.
Nex is a funded company, having raised a total of $37.5M across 3 funding rounds to date. The company's 1st funding round was a Seed of $4M, raised on Jun 01, 2018.
Nex is engaged in developing innovative gaming solutions that transform living spaces into active playgrounds. The company is dedicated to promoting physical play through devices like Nex Playground, which integrates proprietary technology for real-time movement tracking. Operating in the consumer electronics and gaming sector, Nex offers products and subscription services aimed at families and individuals seeking interactive entertainment. Their solutions encourage social interaction and physical activity through a variety of games and experiences.
Nex offers Nex Playground and Play Pass.
Nex has 17 investors. Key investors include NBA, Samsung Venture Investment, Susquehanna, SparkLabs Global Ventures, and Blue Pool Capital.