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Companies are increasingly dependent on digital platforms for their business growth, and that is giving a boost to analytics firms that are helping them make better sense of that digital landscape. SimilarWeb — which offers analytics and insights about the performance of websites and apps, as well as competitive intelligence about how other apps and sites are doing (covering 80 million websites and three million apps across more than 190 countries in all) — is today announcing a significant fundraise of $47 million. Or Offer, SimilarWeb’s CEO, said the funding will be used to continue building out its analytics, business development and acquisitions.
Offer and his CFO Jason Schwartz both said they would not comment on valuation. I understand that it is not quite double — but close to it — compared to the last round. The last round valued SimilarWeb at $400 million, so my educated guess is that this round has a post-money valuation approaching $800 million. “It’s getting close to being a unicorn,” a source close to the company said, referring to that $1 billion watermark that so many startups (or perhaps more their investors) are aiming to hit these days.
SimilarWeb — co-headquartered in San Francisco and Israel — has already made three acquisitions to date, all to expand the kinds of data that it is able to ingest and analyze. For example, at the end of 2015 it acquired Quettra to move deeper into mobile app intelligence.
This latest round was led by Viola Growth, with participation also from Saban Ventures, CE Ventures, and other unnamed investors. (Previous backers include Naspers, which led its previous round of $25 million.) It brings the total raised by SimilarWeb to $112 million.
SimilarWeb competes against the likes of Nielsen (and in the past, Alexa, before Amazon repurposed the name and business for its voice-based assistant). On the web, it provides data about how sites are performing, and offers comparative data for other sites; it also offers insights for mobile apps, where others providing mobile analytics include App Annie, Verto Analytics and Apptopia (among many others).
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