NEWS29 October 2020

SimilarWeb raises $120m in funding

Middle East and Africa News Technology

ISRAEL – Digital market intelligence company SimilarWeb has closed a $120m investment round, co-led by ION Crossover Partners and Viola Growth.

The funding will be used to boost the company’s growth plans, including growing its brand awareness and supporting mergers and acquisitions activity.

SimilarWeb provides measurement of traffic and online behaviour.

In September, the Tel Aviv-headquartered company opened an office in Sydney, Australia, and it plans to expand to North America and Europe.

Harel Beit-On, founder and general partner at Viola Growth, said: "Since we joined the company three years ago, SimilarWeb has executed a strategic transformation from a general-purpose measurement platform to vertical-based solutions, which has significantly expanded its market opportunity."