|SEASON 5 EPISODE 16|
|Pitch||high intensity interval training exercise equipment|
|Asked For||$2,000,000 for 10%|
What is Nexersys?
NexerSys is a next-generation exercise system catered towards boxing and MMA.
It’s a combination of an interactive gaming platform, with an intelligent fitness-related component. With motion-sensitive punching and kicking pads, it delivers a fast, fun, and effective workout for all age groups and capabilities—ideal for the weekend warrior fitness enthusiast or professional athletes.
Users select an activity, then a virtual personal trainer guides them through workout routines, rewarding them with prizes along the way, similar to a video game.
There were two models at inception, one smaller in design for home use and one for gyms, retailing at $2995 and $7000.
Who Owns Nexersys?
Terry Jones is the founder and CEO of Nexersys. He is a graduate of Texas A&M Univesity, with a BA in Business.
Terry comes from a sales and marketing background, holding executive positions at a few companies. He remains in place as Chief Executive Officer today, while also maintaining a Managing Director position for a manufacturing and distribution company.
Terry has always been a workout and fitness enthusiast.
He was looking for a fun and interactive way to get in an MMA/Boxing workout done at home; unfortunately, there was nothing on the market that appealed to him. So, Terry created the holding company XFit Inc, the parent company for Nexersys and decided to create his own one.
Terry then began a crowdfunding campaign to raise capital for his idea. Once patenting and production was complete, he advertised the product on television shopping channels and through digital and print media marketing.
Over 18 months post-launch, he managed to secure $4.2 million in sales. Yet, the company was not profitable due to the high production costs and budget spent on advertising—he also had a large shareholder debt to settle.
What Happened to Nexersys After Shark Tank Update
Is Nexersys Still in Business?
Nexersys remains in business, with its headquarters in Dallas, TX, and has since expanded its product offering.
You can purchase online at their website, through Amazon, as well as selected in-store retailers. They also have a downloadable app for customizable or pre-designed workout routines.
This app syncs the Bluetooth in your phone with specific models to monitor the number of punches thrown.
They also have a list of affiliate athlete influencers on Instagram that promote the product and show its features.