Israeli software company Somoto raises NIS 20m to enter new markets
Software monetization tools developer, Somoto (Tel Aviv, Israel), has raised NIS 20 million on the Tel Aviv stock exchange.
Somoto Inc. was founded in 2009 by experienced web and shareware industry entrepreneurs, who recognized software developers and publishers day to day struggle for gaining distribution and revenues. Ever since, Somoto has been in the forefront of the internet monetization industry, helping thousands of software developers and website owners to generate income for their traffic.
Somoto network introduced 500,000,000 sponsored-apps from tier-1 advertisers with end-users from every point on the globe. With publishers ranging from amateur developers to full-scale corporations, Somoto can professionally tailor a monetization or distribution solution for any kind of software or website.
Somoto offers software developers an opportunity to monetize their software right from the installation process.
Partnering with Somoto enables software developers to integrate a clean & dynamic recommendation screen that encourages the user to try a trusted 3rd party software, among them the Somoto Toolbar Customizable Platform. Thus, the software developer can earn from an additional source of income that does not cannibalize his own offering which can directly increase revenues.
Selected advertisers are invited to boost their online distribution through the trusted network of Somoto. By joining the Somoto network, advertisers are able to reach millions of validated, relevant users worldwide.
Somoto, who work with companies such as Ask.com and Perion Networks, have said that they will use these funds to expand its operations, launch mobile operations, and enter new markets.