Viola Growth portfolio company SimilarWeb successfully completed its Initial Public Offering (IPO) today on the New York Stock Exchange (NYSE) at a $1.6 billion valuation. This marks a significant milestone for both the SimilarWeb and Viola Growth which made its initial investment in the company 4 years back and has since co-led it’s recent $120M round.
Going back to our investment memos from the first funding round, General Partner, Harel Beit-On, explained what made us confident that
“SimilarWeb has all of the ingredients required for a growth company to excel: A product that customers around the world need; proprietary data that creates large barriers to entry; a fantastic team with a track record of execution and a culture that attracts top talent”.
Today, SimiliarWeb is delivering on this promise, making another significant step towards empowering businesses all around the globe to make better decisions. SimiliarWeb’s IPO is the first of many Israeli tech companies, some within Viola’s portfolio, planned to go public this year. We are strong believers in visionary founders and Or Offer is definitely one of them. Surrounded by an exceptional management team, we believe SW will continue to cement its status as the leading digital intelligence solution globally.
We couldn’t be prouder to continue this journey with Or Offer and SimiliarWeb.
See video from the opening bell ceremony: