The company was founded in 2007 by Or Offer in Tel Aviv, Israel. By 2009, Similarweb won the first Israeli SeedCamp, attracting the attention of international media and investors. The company raised its Series A round of $1.1 million[5], with the investment being led by Yossi Vardi, and Docor International Management. SimilarSites, a browser extension to help users find sites similar to those they are visiting, was launched later.
On September 24, 2013, the company closed a Series B round led by David Alliance, Moshe Lichtman with the participation of existing investor Docor International Management.
On February 24, 2014, Naspers invested $18 million into Similarweb and leading their Series C round. Within a month, Similarweb used a part of the capital for the acquisition of Israeli early-stage company TapDog for a few million dollars in shares and cash, less than a year after TapDog was founded.[6]
In November 2014, Similarweb raised $15 million in a Series D investment.[7][8]
In July 2015, Similarweb acquired personalized content discovery platform developer Swayy.[9][10]
In July 2017, the company announced a $47 million round of financing led by Viola Group, Saban Ventures with participation from CE Ventures and existing investors.[11]
In May 2021, Similarweb made its public debut on the NYSE at a $1.6B valuation.[12][13]
In October 2021, Similarweb won "Best Alternative data Provider" at Hedgeweek Americas Awards 2021, for their Investor Intelligence suite. [14]
On February 16, 2022, Similarweb reported revenue of $137.7 million, with a loss of $69 million.[15]
On February 14, 2023, Similarweb reported total revenue of $193.2 million for fiscal year 2022, and annual recurring revenue (ARR) exceeding $200 million.
On February 13, 2024, Similarweb reported total revenue of $218.0 million for fiscal year 2023. [16]
Similarweb develops tools that enable the analysis of the traffic and behavior of users on websites and apps. The service and datasets are provided in a limited free edition, but the paid platform is addressed to SMBs and large companies that require access to data at larger scales for marketing, sales and Market research. The data is collected from a number of different sources that provide information about the internet and app usage of users,[17] including various information partners, and anonymous data from users of the various dedicated browser addons that the company distributes.[18]
Ranking
Similarweb ranks websites and apps based on traffic and engagement metrics. Its ranking is calculated according to the collected datasets and is updated on a monthly basis with new data. Also, The ranking system covers 210 categories of websites and apps in 190 countries and was designed to be an estimate of a website's popularity & growth potential. The company ranks websites based on traffic and engagement data, and ranks apps in the App Store (iOS/iPadOS) and Google Play Store based on downloads, installs & active user data. Analytics from Similarweb are comparable (albeit usually lower) than from Google Analytics.[19]
Acquisitions
On December 10, 2015, Similarweb announced it had acquired Quettra, a Silicon Valley-based mobile intelligence startup, to boost its mobile operations.[20][21]
In November 2021, Similarweb acquired "Embee" to extend its mobile user data sets.[22]
In May 2022, Similarweb acquired "RankRanger" to extend its offering to the SEO industry. Rank Ranger provides keyword rank tracking services and advanced APIs that have been added to Similarweb's existing SEO tools to create a more comprehensive suite.[23]
In March 2024, Similarweb acquired Admetricks to expand its ad intelligence offering.[24]
Awards
In November 2021, Similarweb won the HedgeWeek Americas award for Best Alternative Data Provider.[25]
In March 2022, Similarweb won the HedgeWeek European award for Best Alternative Data Provider.[26]
In April 2022, Similarweb won the HFM European Services Award for Best Data Provider.[27]
$218.0 million(2023)[3]
