Web and app market intelligence firm SimilarWeb has raised $47 million in growth equity funding.
The latest round of financing takes total investment in the San Francisco-based company to $112 million.
The funding round was led by Viola Growth and Saban Ventures, while CE Ventures and others also pitched in with investment.
SimilarWeb claims its services provide insights on more than three million apps and 80 million websites in over 190 countries. Its solutions are used to support business strategy, user acquisition plans and customer retention.
It aims to use the funding to grow its teams in San Francisco, New York, London, Tokyo and Tel Aviv, as well as open new offices around the world.
The company also plans to develop new products, expand its consulting services and extend its data coverage.
As part of the investment round, former Slack CMO Bill Macaitis has joined SimilarWeb’s advisory board.
“The digital market intelligence space continues to grow exponentially, and is increasingly disrupting the $68 billion market research industry as well,” said SimilarWeb CEO Or Offer.
SimilarWeb has emerged as the industry standard in market intelligence, redefining the way companies across the spectrum assess and maximize their market share.
“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.”