Published On: Mon, Oct 26th, 2015

Israeli Startup SimilarWeb Raises $25 Million to Fund Global Expansion

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Israeli start-up SimilarWeb, a traffic monitor on websites and apps,  said on Monday it raised $25 million in a funding round led by current investors South African media group Naspers and Lord David Alliance. Since 2009 the company has raised $65 million.

SimilarWeb tracks websites and mobile use in nearly 200 countries, offering standardised rankings for site traffic in the top 55 Web countries. It targets search and social media marketing and mobile strategy.

The company also announced that Jason Schwartz, formerly chief financial officer of Shopping.com, which was acquired by eBay, would join as CFO.

SimilarWeb will use the funds to expand the company’s operations, including opening new offices and financing acquisitions. The company  employs over 250 people, compared with only 60 a year ago and plans to reach 350 by the end of 2016.

Talking to “Globes” CEO and co-founder, Or Offer said that SimilarWeb would make an IPO by 2017. Last time that the company completed a fund-raising round, in February 2014, Offer also talked about an IPO, and gave 2016 as the target year.

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