UK-based web traffic analytics provider SimilarWeb closed a $25m series E round yesterday led by e-commerce company Naspers that also featured private investor David Alliance.
SimilarWeb analyses a range of metrics such as traffic and user engagement for more than 80 million websites and three million mobile apps in order to help developers better understand and target their audiences.
The funding will support further expansion through the addition of new offices and through acquisitions, and was raised to tackle a high-growth phase. SimilarWeb expects to increase its workforce to 350 by the end of 2016, up from a current 250.
SimilarWeb has also named Jason Schwartz as its new chief financial officer (CFO). Schwartz previously held CFO positions at e-commerce platform Shopping.com and work collaboration tool Clarizen.
The company secured the latest capital at a valuation of $400m, according to a TechCrunch source. It has now raised $65m altogether.
Naspers and David Alliance co-led SimilarWeb’s $15m series D round in November 2014, following an $18m series C investment by Naspers in February 2014.
SimilarWeb’s shareholders also include Docor International Management, which acts as an investment subsidiary of charity Van Leer Group Foundation, and angel investors Moshe Lichtman, Yossi Vardi, Liron Rose and Omer Kaplan.
SimilarWeb originally launched in 2007 as a plug-in for internet browser Firefox that recommended similar websites to the one a user was visiting. The company pivoted to its current business model in 2013.