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This popular SEO tool raised millions to transform into a data giant

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Israeli SEO start-up SimilarWeb has announced that it has raised $120 million in funding.

The funding round, which SimilarWeb says it will use to invest in more R&D and expand its operations, was co-led by ION Crossover Partners and Viola Growth, and takes SimilarWeb's total investment to $240 million thus far. 

At the moment, the company is not publicly revealing a valuation, but it was worth $800 million at the time of its last equity round in 2017.

"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 and generated immense customer value,” Harel Beit-On, Founder and General Partner at Viola Growth, said.

“With a stellar management team of accomplished executives, we believe this round positions the company to own the digital intelligence category, and capitalize on the acceleration of the digital era."

Expansion plans

SimilarWeb has managed to acquire big-name customers like Walmart, Adidas and Google by providing innovative traffic intelligence solutions that enable businesses to track their competitors’ performance. The platform estimates total traffic for different websites and enables firms to see their rivals’ top sources of traffic.

With the coronavirus pandemic resulting in a marked increase in online activity worldwide, digital data has become more important to businesses. At the same time, SimilarWeb is keen to grow its operations. In September, the company opened a new office in Sydney, Australia to expand its presence in the Asia Pacific region, with plans already afoot to open offices in North America and Europe.

In addition, SimilarWeb will use its newly acquired funding to make strategic acquisitions and expand its workforce, with 200 positions to be filled by January.

Via TechCrunch

Date

28 Oct 2020

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    Lenovo 14-inch Chromebook: $239 $159 at Walmart
    Save $80
    – The 32GB hard drive in this cheap Lenovo Chromebook means you'll be best utilising the extra storage from the cloud and microSD card slot for most of your files. The MediaTek processor is an unusual step away from mainstays Intel and AMD that you would see in more premium models. However, you do get 4GB RAM and up to 10 hours of battery life with this Chromebook making it great value for money for a basic machine.

    HP 14-inch Chromebook: $309.99 $174.99 at Amazon
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    Lenovo IdeaPad Flex 5i 13.3-inch 2-in-1 Chromebook + backpack and mouse: £548 £429 at Currys
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    The best Chromebook deals and sales

    best cheap Chromebook price and deals

    (Image credit: HP)

    HP Chromebook 14

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    CPU: Intel Celeron N4000 Series / AMD A4 | Graphics: Intel HD Graphics | RAM: 2GB – 4GB | Screen: 14-inch, HD (1,366 x 768) BrightView | Storage: 16GB – 32GB eMMC

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    Read our full review: HP Chromebook 14

    The cheap Lenovo Duet Chromebook in laptop mode

    (Image credit: Lenovo)

    Lenovo IdeaPad Duet Chromebook

    Perfectly balanced 2-in-1 Chromebook for students

    CPU: MediaTek Helio P60T | Graphics: ARM G72 MP3 800GHz | RAM: 4GB | Screen: 10.1-inch FHD (1920 x 1200) Touchscreen | Storage: 64GB-128GB eMCP

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    best cheap Chromebook price and sales

    (Image credit: Dell)

    Dell Chromebook 11

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    (Image credit: Acer)

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    Acer Chromebook 14

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    cheap Chromebook deals sales

    (Image credit: Asus)

    Asus Chromebook Flip C434

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    best cheap Chromebook price and deals

    (Image credit: Google)

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