Nexercise


Website: nexercise.com
Twitter: @Nexercise
Facebook: Nexercise
Founders: Benjamin Young, Gregory Coleman, Boomie Odumade

Overview

Nexercise is an exercise app for iPhone and Android that encourages users to exercise, and awards them discount deals based on fitness behaviors rather than outcomes. Nexercise encourages competition and social support, and offers users points redeemable for gift cards.  The app uses location-based technology, time stamps, and other user inputs to analyze behavior and determine how to motivate users. To track users' progress, the app uses “experience points” as a unit of measure rather than miles, minutes, or calories.  Users earn recognition for exercising indoors on a rainy day, points for working out with friends, and rewards for using the app. The rewards are highly targeted advertising sponsored by brands who opt in. [1]  Points increase with each workout, and the more points users earn, the greater the discounts they receive. [2]

History

Nexercise was founded in October of 2012 by Silver Spring, MD entrepreneur Benjamin Young and his Co-Founders, Gregory Coleman and Boomie Odumade.   Young decided to create Nexercise as a supportive app to help him maintain his weight while working long hours at a desk job and pursuing his continued education.  Young wanted an app that would game-ify exercise and allow users to compete and earn rewards from boutique health food vendors, fitness apparel retailers, and bigger stores like Sephora, CVS, and Home Depot. [3]

Funding rounds

Funding RoundDatePaper AmountInvestors
VentureDecember 12, 2013$938.6kMilitello Capital
SeedMay 28, 2013$250kTechstars
AngelNov 22, 2011$140kDingman Center Angels / $25k TEDCO
[4]
CompetitionDateAward
Startup AmericaDecember 2012Featured Startup of the Day
IamDtechNovember 2012Outstanding Technology Company Award
Montgomery County Chamber of CommerceDecember 2011Emerging Business of the Year Finalist
NBMBAAOctober 2011Whiteboard Challenge - First Place Winner
Funded Founder's ShowcaseJune 2011Runner Up
Northern Virginia Technology CouncilJune 2011Hot Ticket Awards - Hottest Buzz
DisruptathonApril 20122Hottest Mobile APps Finalist
UMD's Cupid CupMarch 2011People's Choice
Capital Access NetworkMarch 2011Company of the Year
Health 2.0 Dev Developer ChallengeFebruary 2011Health 2.0 Dev - Honorable Mention
[5]

References

  1. Marcia Wade Talbert "Ninja Innovation: Warriors? Yes. Turtles? No. Changing the World? One Gigabyte at a time" Black Enterprise March 9, 2013

  2. Steven Overly "Now, a smartphone app that rewards exercise" The Washington Post January 3, 2011

  3. Jason Gilbert "Nexercise, A New iPhone App, Gives You Prizes For Exercising" The Huffington Post August 11, 2011

  4. "Funding Rounds" Crunch Base

  5. "Press" Nexercise