July 25, 2017 / 11:20 AM / in 3 months

Digital market analytics firm SimilarWeb raises $47 million

The logo of Internet data firm SimilarWeb is seen at their offices in Tel Aviv, Israel July 4, 2016. REUTERS/Baz Ratner

JERUSALEM (Reuters) - Israeli-U.S. tech firm SimilarWeb, whose platform helps companies better track the performance of their websites and mobile apps, said on Tuesday it raised $47 million in fundraising led by equity investor Viola Growth.

Other investors included Saban Ventures and CE Ventures, and the latest round brings SimilarWeb’s total funding to date to $112 million.

The company said it will use the new investment to drive global expansion, build next generation solutions, establish consulting services and invest in data coverage.

“We are in a strong financial position - doubling revenue over the past 12 months - and with this investment will continue to meet the increasing demand we see for our solutions from brands and agencies around the world,” said Chief Executive Or Offer.

Reporting by Ari Rabinovitch

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