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Nexercise Gets Fit with New Capital Injection

2014-01-07
SILVER SPRING, MD, Fast-growing mobile fitness application raised funds from Militello Capital.
The idea of Nexercise was conceived when CEO & Founder, Benjamin Young, needed an easier way to maintain his weight on top of his busy schedule. With the help of Co-Founders, Greg Coleman and Boomie Odumade, the fitness app was developed. The trio diligently leads the Nexercise team who strive to make healthy lifestyles attainable. Great leadership is no stranger to Greg who serves as Lieutenant Colonel and Command Pilot in the Air National Guard during the short periods of time he's away.

The free Nexercise iPhone and Android app delivers physical rewards in two ways. It motivates those who want to lose weight and maintain a healthier lifestyle in a fun and manageable approach. Like frequent flyer miles, users accumulate points through physical activity which can be converted into real rewards like gift cards with Starbucks, iTunes, or Amazon. Users can even donate to charitable causes. For added motivation, individuals have the ability to compete with friends and family with similar health goals.

According to Matt Brady, Co-Founder and COO of Militello Capital, 'It is a pleasure to work with entrepreneurs who are committed to building a company whose success can be measured both in terms of bottom line performance and impact on its community. We believe Nexercise fits perfectly into our portfolio.'

'We are very excited to have Militello Capital on board. They are true partners with the companies they work with and not just passive investors. Just weeks after closing our round they were already making introductions on our behalf.'

Nexercise is a mobile platform that uses friendly competition and real rewards to motivate busy people to lose weight and stay fit. This platform is also the easiest way on the market to set up wellness challenges between groups of friends and/or co-workers, because it's quick to learn and fun to play. Nexercise is positioned to become the premier brand associated with sustained motivation for a healthy lifestyle.

Militello Capital

Militello Capital is a Northern Virginia-based private equity investment manager. We've moved beyond Wall Street to a place where ideas matter, people have names and investing is as much about creating opportunity as it is about increasing wealth. Our firm was founded on the principle that true wealth is created in private investments. We offer two distinct alternative investment strategies available exclusively through certified RIAs: deep value commercial real estate and emerging technology venture capital.

Visit http://www.militellocapital.com/ to learn more.
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