App maker Somo’s $5.5m fundraise

Mobile marketing firm Somo today announced the completion of a $5.5m (£3.3m) funding round led by MMC Ventures. Chief executive Nick Hynes, who previously founded search firm Overture before selling it to Yahoo in 2003 for $1.6bn, said the additional funding would go to developing the firm’s mobile advertising business and enterprise mobile efforts, for clients including Red Bull and Audi.