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Israel's SimilarWeb raises $120 mln, brings total raised to $240 mln

Israeli digital market intelligence provider SimilarWeb said on Tuesday it raised $120 million, bringing its total funding to $240 million to date.

TEL AVIV, Oct 27 (Reuters) - Israeli digital market intelligence provider SimilarWeb said on Tuesday it raised $120 million, bringing its total funding to $240 million to date.

The investment round was co-led by ION Crossover Partners and Viola Growth. The funds will be used to accelerate SimilarWeb's growth, expand brand awareness, and support merger and acquisition activities, the company said. In September, SimilarWeb opened an office in Sydney and has plans to open multiple offices in North America and Europe in the coming months.

The company has just under 600 employees and is hiring for nearly 200 open roles, with plans to grow global headcount by over 20% by January 2021.

"Digital data is becoming more important than ever to executives around the world as digitalization is accelerating exponentially because of COVID-19," SimilarWeb CEO Or Offer said.

(Reporting by Tova Cohen Editing by Steven Scheer)

((tova.cohen@thomsonreuters.com; +972-9-899-0222; Reuters Messaging: tova.cohen.thomsonreuters.com@reuters.net))

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