somos closes second fundraising round, bringing pre-seed total to $100k+
creator platform somos closed a new round of pre-seed funding at a valuation of $1.9m this month.
the social enterprise set up in october 2021 and has raised $100k+ across two rounds so far.
the community backed venture has 23 investors, many of whom took part in both rounds.
somos has a unique ownership model that allocates equity ownership for the team, language teachers and grassroots community organisations.
what's next at somos?
⭐️ the new funding is to hire new team members via a partnership with open door policy. the singapore based not-for-profit trains & connects refugees to remote work opportunities.
⭐️ somos recently signed a strategic partnership with product accelerator, pmdojo. the partnership will see 5 pmdojo fellows take a new product feature to market for somos in 10 weeks. the cohort will begin work in late august 2022.
⭐️ somos till be announcing the first of its partners for its impact fund in h2 2022. the fund supports refugees & migrants in diaspora, language rights initiatives, mental health & wellbeing.
what is somos? 🤔
somos is a creator platform that helps language teachers build an online storefront in a matter of minutes! 🚀
host your community, 1:1 classes, digital products, group language clubs, and even external links - all in one place for one affordable fee.
we don't charge commission so you can launch & grow your business without giving away your earnings. 💚
why should i switch to somos? 🧐
our mantra at somos is to help you teach, earn & live well. this means:
- helping you keep your earnings: as a teacher-first platform, we don’t charge commission. your only charges are: payment processing fees to stripe + a 1% donation to our impact fund. somos charges 0% on transactions.
- giving you the tools to teach creatively:
- online marketplaces have pushed 1:1 classes as the primary way of teaching.
- we want you to have the ability to offer private coaching but as part of a rounded product suite that allows you to not only diversify your income streams but engage students creatively in a range of ways!
- treating you like co-owners, not customers: somos offers language teachers co-ownership opportunities and has a community ownership programme for grassroots organisations along with a unique entry-level hiring programme in place for refugees living in limbo.
why shouldn’t i switch to somos? 🙀
if you prefer to focus solely on teaching without worrying about marketing, a marketplace model like italki, preply or verbling might suit you better.
- these platforms often promote teachers based on algorithms, which can mean less control over how you're discovered but also less effort required on your part to attract students.
- somos is not a traditional marketplace - we don't directly find students for you but do support your growth by providing strategies to effectively share your somos profile across various social media platforms.
if you're just starting out, a commission only model might work better than a pay monthly - but do get in touch when you find your feet!
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