Israeli web, app monitoring co SimilarWeb raises $47m

SimilarWeb Photo: Roy Plada

More than half of the Fortune 100 companies rely on SimilarWeb’s market intelligence solutions.

Israeli digital market intelligence company SimilarWeb, which monitors traffic on the web and mobile apps, today announced that it has completed a $47 million financing round led by Viola Growth and with the participation of Saban Ventures and CE Ventures, among others. SimilarWeb has raised $112 million to date including the latest financing round.

More than half of the Fortune 100 companies rely on SimilarWeb’s market intelligence solutions, which offer industry-leading insights on over 80 million websites and three million apps across more than 190 countries. SimilarWeb’s thousands of customers include CMOs, digital marketers, investors, strategy professionals and business analysts at the world’s leading brands, agencies, and consulting firms. SimilarWeb’s market intelligence solutions provide essential insights on competitors, industry and audience that enable companies to capitalize on market opportunity and increase market penetration.

SimilarWeb CEO and cofounder Or Offer said, “The digital market intelligence space continues to grow exponentially, and is increasingly disrupting the $68 billion market research industry as well. SimilarWeb has emerged as the industry standard in market intelligence, redefining the way companies across the spectrum assess and maximize their market share. We are in a strong financial position - doubling revenue over the past 12 months - and with this investment will continue to meet the increasing demand we see for our solutions from brands and agencies around the world.”

With its R&D office in Tel Aviv and offices in in San Francisco, New York, London, and Tokyo, SimilarWeb will leverage the investment to drive global expansion, build next generation solutions, establish consulting services and invest in data coverage.

Viola Growth founder and general partner Harel Beit-On said, “SimilarWeb empowers some of the most notable global brands to better understand, grow, and track their digital market share, fueling the rapid adoption of SimilarWeb’s platform globally. With their proven technology, impressive team and global list of customers, the company is well positioned for accelerated growth and mass market penetration.”

As part of the round, SimilarWeb also announced that Bill Macaitis, former CMO of Slack and Zendesk, joins as a member of SimilarWeb’s advisory board.

Published by Globes [online], Israel business news - www.globes-online.com - on July 25, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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SimilarWeb Photo: Roy Plada
SimilarWeb Photo: Roy Plada
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