Somo, Developer Of The Summly iOS App, Secures New Investment From MMC Ventures

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Somo, the UK’s largest independent mobile marketing agency, has secured a second investment round led by MMC Ventures and participated in by existing investors. While we normally don’t bother with investments where terms are undisclosed, it’s worth noting that Somo, while it’s a large independent mobile agency, is also rapidly developing a reputation as a ‘product Lab’ than simply pure agency. Somo has developed Apptimiser, a mobile advertising network tracking technology and App Planner, a media planning tool that associates app store ranking with download numbers. Most famously (at least of late) Somo developed the front end iOS interface for Summly, the startup app recently acquired by Yahoo for $30 million.

Launched in 2009, Somo now has more than 125 employees and now has offices in London, San Francisco, Los Angeles, New York and Singapore and plans new offices in Europe and the USA. Clients include Audi, News Corp, AirAsia Expedia, Red Bull and Groupon.

Nick Hynes, co-founder and CEO says “Our new tech and engineering hub is a demonstration of how we are building a centre of mobile expertise and experience… This investment will allow us to grow even faster.”

In 2000, Hynes, alongside co-founder Carl Uminski, created Overture Europe. Overture was sold to Yahoo! in 2003 for $1.6bn. In 2004, Hynes founded The Search Works, which became Europe’s largest paid search agency as well as Google’s biggest European customer. He sold the group to TradeDoubler AB in 2007 for £56m. In 2009, Hynes partnered once again with Carl Uminski to found Somo.

The announcement was made at London’s City hall at the launch of the new MMC London Fund, of which Somo is one of the first beneficiaries.