Militello invests in Maryland-based fitness app Nexercise
Militello Capital has announced its investment in Silver Spring, Maryland-based fitness mobile application Nexercise.
Chief Executive Officer and Founder Benjamin Young first conceived the idea of Nexercise when he needed a more convenient method of maintaining his weight amid his busy schedule. With the help of his co-founders Boomie Odumade and Greg Coleman, Young developed the fitness app to make healthy lifestyle achievable.
Nexercise is a free app for iPhone and Android. The app motivates users who want to lose weight an maintain a healthy lifestyle in a fun and manageable way. Users gather points through physical activity. The points can be converted into rewards such as gift cards with iTunes, Amazon, Starbucks, or even donations to charity. Individuals can also compete with friends and family for similar health objectives.
Militello Capital co-founder Matt Brady said of the deal with Nexercise: "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."