Private family photo-sharing and messaging app Togethera raises £220k for expansion

·         UK start-up has seen 400% growth in the last year and now has over 50,000 users globally - the app is currently accessed in 17 different languages and has been featured under 'Best New Apps' by Apple in 118 countries 

·         The oversubscribed crowd-funding round included numerous active Togethera users and high profile investors including Neil Hutchinson, founder of Forward Internet Group, Andrew Bredon, founder of Secret Escapes, and Tom Allason, founder of Shutl and new investors, such as Martijn de Wever of Force Over Mass Capital

·         Togethera has refined and merged the photo sharing and messaging group format, allowing users to bypass the clutter of other social networks and simply follow updates from people they care about

·         Crucially the app’s private network also prevents web-snooping while users are not commodified; their data is neither sold or shared

·         The Togethera paid-for Premium Service has also seen huge take-up as the industry sees a marked increase in the number users willing to hand over their money rather than their privacy in return for the use of a clean, high-quality app

·         The new funding will focus on product development to cement its position as one of the leading family-focused photo sharing platforms on the market, while also supporting the diversification into photo printing and photo books

London 8 September, 2015. Togethera, the private photo and messaging platform aimed at families and close friendship groups has successfully closed a £220,000 crowd-funding round with Crowdcube. The app - started by TrustedPlaces founder, Sokratis Papafloratos and former Facebook staffer Matt Dempsey - has seen a surge in sign-ups over the last year as users look for alternatives to other platforms seen increasingly as either insecure or simply cluttered and invasive. 

Togethera is used by families and close-knit friendship groups looking for a private space online and on mobile where they can share photos, videos and updates without the worry of who's looking at their posts, or the hassle of avoiding adverts or irrelevant content. The site's simplicity and easy user experience has also opened up photo sharing and social networking to a generation of silver surfers previously alienated by other similar platforms. Over 60% of Togethera reviews across iOS and Android state that the app has brought their wider family together online for the first time.  

The site's paid-for premium subscription has also witnessed high-growth since being trialed earlier this year. The success of Togethera Premium reflects the company's belief that the social networking market is witnessing a step change with users becoming increasingly willing to hand over their money rather than their privacy in return for the use of a clean, high-quality app. 

Togethera does not feature any advertising across the platform and does not share or sell user data. The platform is also entirely private, meaning users or their posts are not searchable or viewable by people outside of the app or outside of their individual group.

The funding will be used primarily for product development to enhance the offering to its 50,000-plus users and specifically the rapidly increasing number of premium users paying to use the service. Togethera already boasts superior photo and video upload speeds compared to its peers in the market with users also able to post more than double the amount of photos at one time than on Facebook. In addition to the online offering and high-res photo printing, later this year, users will be able to subscribe to have automatically-generated photo albums delivered directly to their door. 

Togethera Co-Founder Sokratis Papafloratos says: 

                “We weren't interested in aggressively expanding from day one. Too many social networks have quickly boomed, raking in users but then quickly going bust once the hype disappeared. We wanted to focus on providing our first users with an ultra-simple, ultra-private network where they could keep in touch with close friends and family and share photos easily. We believe we've achieved that and we're now experiencing the kind of demand we suspected would come if we got the app right.

                “Togethera is not competing with Facebook, Pinterest or the other big players in the market. We are supporting families, friendship groups, and those that want a private space to communicate and share photo and video content. These groups don't want to be bombarded with adverts or posts from people they hardly know - they want to instantly see and comment on a photo of their granddaughter from the weekend bbq or a happy birthday video-message from their best friend in Australia. Nothing else."

Martijn de Wever of Force Over Mass Capital says:

“Togethera’s growth over the last year has been phenomenal but it’s the enthusiasm and loyalty shown by the established users, which is the real sign of solid success. As with all our investment decisions, the team was also a key factor. Sokratis, Matt and the team around them have the perfect mix of experience, skill and drive to make Togethera a huge success and we’re excited to be working with them.

“Finally, the market is huge and is growing fast. Photo sharing and messaging are two of the hottest spaces in consumer tech and  increasing privacy concerns make the timing ideal for an idea like Togethera.”

Maven Capital partners achieves huge return.

Maven Capital Partners has announced that it has achieved a 7.1x total multiple return on exit from Newhaven based point-of-sale (POS) cash management specialist Cash Bases Limited, following its merger with US company APG Cash Drawer LLC (“APG”).

Maven clients funded the MBO of Cash Bases in 2004, and the Maven team later helped senior management to complete a key strategic acquisition which helped expand the business into new markets.

Cash Bases has been developing cash management solutions for over 30 years and is now established as one of the world's leading manufacturers of high quality cash drawers and other POS related products, supplying global brands in the retail, finance and hospitality sectors, across more than 70 countries.

Andrew Symmonds, Portfolio Manager at Maven, said: "Cash Bases has established itself as a market leading business during the time of our investment, led by an innovative and dynamic management team with a focus on developing cutting-edge products in a competitive sector. We’ve enjoyed working with Phil and his team, and the investment has delivered an excellent return for Maven clients.

Philip Stone, Managing Director of Cash Bases, added: "The Maven team has proven to be a constructive and valuable investment partner as our business has expanded, offering advice and strategic support as we have developed new products and our overall client offering. Maven were there with support when we required it and we are grateful to them for helping us fund the buyout in 2004. We are happy that their investment in us has proved to be very rewarding, and it has been an enjoyable experience working with Maven.”

If you require further details please contact [email protected] or 0207 653 9850

GFT Group chooses Kimble Applications as its professional services automation solution

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GFT Group, a leading specialist in consulting and IT solutions for the financial services industry, has chosen Kimble Applications as its professional services automation solution. The contract is over five years with a minimum of 4,000 users across eleven countries.

Graham Underwood, Group Operations Director at GFT, comments: “GFT has grown significantly over the past two years both organically and through acquisitions. We recognized that in order to continue to support our growth in the most efficient way possible we needed common systems and processes across the Group. Kimble was already working well in a company we acquired last year and, after conducting due diligence on Kimble and other PSA products, we chose Kimble as the leader. The fact that it provides a single modern system of engagement for our professional services business, as well as being able to integrate with our SAP system, means we expect it to bring huge benefits to our business.”

Sean Hoban, Chief Executive at Kimble Applications, comments: “We are pleased GFT chose Kimble at this exciting time in the organization’s development. Kimble specializes in being a catalyst for growth for professional services and IT consulting firms and we’re looking forward to supporting GFT as the company continues to expand.”