SimilarWeb receives $47 million in funding
SimilarWeb, a digital market intelligence company that's big globally, but smaller in the U.S., is making a big play to take on comScore, and to an extent Nielsen and App Annie, in tracking audiences in America.
- The Israeli-based company has received $47 million in its latest round of funding, bringing its total funding to $112 million. The round was led by Israeli investment firm Viola Growth, as well as Saban Ventures and CE Ventures. SimilarWeb VP Nitzan Tamari tells Axios that the money will be used to scale their data analytics offerings and build their brand in the U.S.
- Our thought bubble: There's been a lot of talk about the major players in the media measurement space not being economically incentivized to clean up their data with more sophisticated methodologies. Market pressure from new measurement companies in the U.S. could force their hands.
- Fun fact: Israel is a leader in ad technology. Many of the major ad tech players used globally and in the U.S., like Taboola, Outbrain, eXelate and SimilarWeb, all come from Israel.