25 July, 2017
SimilarWeb Raises $47M At Valuation Approaching $800M To Take On Nielsen In Digital Market Intel
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.