Last year the Shoreditch-based firm started the process of raising capital through the MMC Ventures London Fund, which is overseen by the Mayor of London and intended to support the growth of London-based businesses.
Since then, Somo has hired 60 additional staff, including mobile engineers, and what it describes as insights, loyalty and social specialists. It has also gained several new clients including De Beers, British Gas, and Tesco.
One of the company's core products is Lithient, a mobile app that provides businesses with analytics and insights into how well their own apps are performing.
Somo, founded in 2009 by serial entrepreneurs, Nick Hynes and Carl Uminski, is perhaps best known for developing the front end iOS interface for Summly, the start-up app acquired by Yahoo for $30 million that was later morphed into the Yahoo News digest app. Today Somo employs 180 people across offices in New York, San Francisco, Los Angeles, Berlin, and Singapore.
MMC Ventures partner Rory Stirling said, “Somo is growing at a phenomenal rate. We are consistently impressed by the performance of the team, and the business as a whole. The MMC London Fund is all about identifying the fast growth London businesses that can go all the way given a little support, and we are very pleased to be continuing to support Somo as they progress.”
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