SimilarWeb filed a prospectus for an initial public offering with the US Securities and Exchange Commission late last week.
The clickstream data provider hasn’t offered a valuation or determined the number of shares it will offer yet, but market players are estimating a valuation of between USD 1.5bn and 2bn after it goes public.
The firm has already raised USD 240m since its founding in 2007, including a USD 120m capital raise last October, which it said would use to fund platform growth through acquisitions and internal R&D efforts.
The newly filed prospectus shows that SimilarWeb’s revenue grew 32% in 2020 to USD 93.5m, down from a 37% increase in 2019 to USD 70.6m.
At the end of 2020, the company reported an 11% increase in the number of paying customers to 2,718, including seven of the top 10 financial services organisations. Nearly half of its revenue, however, came from 187 of those customers.
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