SimilarWeb, an analytics and website traffic company, announced it raising $25 million growth equity round led by Naspers, the global Internet and media group and investor Lord David Alliance. This funding round has summed up the total funding raised by the company to $65 million.
Launched in 2009 as a simple service that helped users find new websites similar to the one they are familiar with, SimilarWeb grew to a company that measures traffic, engagement, time on site and other key metrics for more than 80 million websites and 3 million apps. Their data helps businesses to analyze their competive environment and help them plan better strategies for the business. Last year, the Israeli company launched SimilarWeb’s mobile app measurement system that offers unprecedented insight into key app metrics like downloads, engagement and retention to get an exact picture of the app ecosystem.
Or offer, CEO and founder of SimilarWeb said,” “We aim to bring a new level of digital visibility to the entire online ecosystem. This investment allows us to scale up our activities so that we can continue to provide the highest quality product in the market and deliver the most accurate picture of the digital landscape. Naspers continues to be the perfect partner for SimilarWeb, bringing a wealth of knowledge and experience to help us become the authority in measuring the online world.”
With the new funds, SimilarWeb plans to expand in full pledge the company’s operations which consists of new offices and strengthening its acquisition strategy. This new round of funding comes after a year they closed their Series D round with $15 million haul, which also came from this round’s current investors.
Regarding the funding, Larry Illg, CEO New Ventures at Naspers said, SimilarWeb enables businesses to make better decisions in today’s dynamic online and mobile world. Its products are uniquely capable of providing the insights necessary to create value for businesses of all sizes – from SMB to enterprise. Our New Ventures team at Naspers is always on the look out for opportunities to back exciting, game-changing companies and founders and help them scale globally. This latest investment underlines our continued confidence in the SimilarWeb team to redefine how the digital world is analyzed.”