Israel's SimilarWeb raises $15 million, eyes faster global expansion

Reuters News
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Posted: Nov 25, 2014 6:52 AM

JERUSALEM (Reuters) - Israeli start-up SimilarWeb said on Tuesday it raised $15 million in a funding round aimed at increasing the pace of its global expansion.

SimilarWeb measures computer usage into the mobile Internet realm and the apps where users spend the overwhelming bulk of their time on smartphones.

The company has raised $40 million since 2009 and its latest round was co-led by existing shareholders Naspers and Lord David Alliance.

It noted it would use the funds for global expansion and strengthen its position in the mobile intelligence world through acquisitions and advanced product development.

SimilarWeb tracks Internet and mobile use in more than 200 countries, offering standardized rankings for site traffic in the top 55 Web countries, including lesser-known markets such as Colombia, India, Nigeria, Saudi Arabia and Ukraine. It targets search and social media marketing and mobile strategy.

(Reporting by Steven Scheer; Editing by Tova Cohen)