MMC Ventures, Private Investors
About the Client
Founded in 2009 by serial entrepreneurs, Nick Hynes and Carl Uminski, Somo has built some of the most innovative and creative mobile products in the market and has run successful campaigns for brands all over the world such as Audi, Red Bull, De Beers, The New York Times and AirAsia Expedia. Headquartered in London, Somo has offices in New York, San Francisco, Los Angeles, Berlin, and Singapore and currently employs 180 people.
About the Deal
GP Bullhound have acted as financial advisor to leading independent global mobile solutions company, Somo, on an investment round backed by MMC Ventures and private investors. The round follows on from an investment by the MMC London Fund last year. Since its last investment round, Somo has experienced growth of more than 100% and has worked to develop its mobile advertising solutions and enterprise grade mobile platforms, including the new mobile app tracking product Lithient.
Nick Hynes, co-founder and CEO, Somo, said, “Our business is absolutely flying. Our people are recognised globally for being experts in mobile technology, and are trusted by our clients to advise on how to take advantage of the connected future. We have attracted an incredible calibre of clients and we are ready to take the next step. GP Bullhound have provided valuable support and advice to us over the last 12 months, helping us to establish the capital platform needed to drive this next phase of growth.”
Simon Nicholls, Partner, GP Bullhound, said, “Somo is an incredibly exciting business, creating an early leadership position in mobile enterprise solutions and mobile marketing, with an enviable client base of blue-chip global corporations. We see substantial greenfield territory and strategic opportunity in these sectors, with rapid growth ahead.”