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Harel is a co-founder of the Viola Group; one of the original co-founders of Carmel Ventures and the founder of Viola Growth, where he serves as general partner.
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Daniel CohenDaniel Cohen joined Carmel Ventures in mid-2013 as a General Partner, with more than 11 years of VC experience. Daniel investment interests include digital media and consumer internet.
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Ronen NirRonen Joined Carmel Ventures in February 2008 and currently serves as a General Partner. Ronen's investment areas focus on SaaS, big data, cyber security and internet.
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Why we just invested in SimilarWeb

By July 25, 2017

At the risk of sounding trivial, digital presence of everything – news, people and companies – has become the primary medium for information and content distribution. As a result, enterprises of every size and domain need to constantly enhance their digital presence, especially in the context of the competitive landscape. Planning and executing your digital footprint requires the ability to measure, analyze, compare and devise a winning strategy.

It is obvious that a US based financial institution, for example, will need to measure and analyze how it sources traffic to its website, where people spend their time online and what is their typical digital journey. They would also like to know how prospective customers do the same on competing websites, what differentiates competing websites, which products visitors are interested in, what their competitors’ conversion rates are, etc.

SimilarWeb is the leading global platform for increasing a brand’s digital market share by measuring, comparing and analyzing their digital presence vis–à–vis its competitors. Not only do they have the largest and most comprehensive data collection platform, but they also possess the big data analytics capabilities to make sense of that data and provide the required business insights.

Viola Growth recently led a significant growth round in SimilarWeb and has become a “proud shareholder” in the Company.

During this investment process, we had the opportunity of getting to know SimilarWeb’s team and its market. We discovered a Company that has the open culture that is necessary to attract and retain the best talent in the industry. The team has a track record for great execution and an impressive ability to identify, penetrate and lead market segments repeatedly, all with the resolve to stay the course and build a significant Company.

SimilarWeb teamSimilarWeb’s management team

It is our belief that in the new digital-first world, where every company, large or small, needs an unbiased view of its digital presence, this will make for an enormous market for SimilarWeb. Its ability to collect and compile a proprietary data-set and analytics will represent a significant entry barrier for competitors.

All of this makes SimilarWeb one of the fastest growing SaaS companies in the world and an attractive investment opportunity for Viola Growth.

A word about growing big companies in Israel:
The Israeli high tech industry is scaling fast. Growth investments are growing rapidly, as a share of the overall investments in the industry. We are seeing a rise in Israeli companies that are valued at over $200 million. In the last 3 years there were over 145 transactions with investment rounds of over $20 million each.

I believe that SimilarWeb has all of the ingredients that are required for a growth-company to excel. I would like to wish Or Offer and the whole team great success as they scale their Company.

 

 

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