SimilarWeb Customers and Revenue Statistics for 2023
Written by Brian Dean
SimilarWeb is popular web analytics and digital intelligence platform.
The company’s tools span a range of use cases, from optimizing traffic acquisition to finding leads.
SimilarWeb acquired its first annual customer in 2013. 5 years later, the company hit $50 million in annual recurring revenue. Today, SimilarWeb generates $107 million ARR.
Continue reading to find a selection of the best SimilarWeb stats for 2023.
Here’s a summary of what we’ll cover:
- SimilarWeb Key Stats
- How many customers does SimilarWeb have?
- SimilarWeb enterprise customers
- SimilarWeb Fortune 500 clients
- SimilarWeb revenue
- SimilarWeb revenue by region
- SimilarWeb ARR by customer segment
- SimilarWeb operating expenses
- SimilarWeb acquisitions
- How many people work at SimilarWeb?
SimilarWeb Key Stats
- SimilarWeb has 2,718 customers.
- 187 SimilarWeb clients pay at least $100K annually. They contribute 49% of the company’s annual recurring revenue.
- SimilarWeb brought in $93.49 million in revenue in 2020.
- 576 employees work at SimilarWeb.
You can find out more details about the platform in this Semrush vs. Similarweb review.
How many customers does SimilarWeb have?
SimilarWeb has 2,718 customers.
The company has added 280 new customers since 2019:
| Year | Number of customers |
|---|---|
| 2019 | 2,438 |
| 2020 | 2,718 |
Source: SimilarWeb.
SimilarWeb enterprise customers
SimilarWeb has 187 customers that contribute more than $100,000 per year in subscription fees. That’s 6.88% of the total customer count.
The number of SimilarWeb enterprise customers has increased by 54.54% over the previous year.
Here’s a table showing the number of SimilarWeb customers spending more than $100K per year since 2019:
| Year | Number of customers (Share) |
|---|---|
| 2019 | 121 (4.96%) |
| 2020 | 187 (6.88%) |
Source: SimilarWeb.
SimilarWeb Fortune 500 clients
120 SimilarWeb customers are featured in the Fortune 500 list. In other words, 24% of the entire Fortune 500 are subscribed to SimilarWeb.
Source: SimilarWeb.
SimilarWeb revenue
SimilarWeb generated $93.49 million in revenue in 2020. That’s an increase of 32.44% over the previous year.
SimilarWeb revenue has increased 1.81x since 2018.
Here’s a table with complete data on SimilarWeb revenue since 2018:
| Year | Revenue |
|---|---|
| 2018 | $51.54 million |
| 2019 | $70.59 million |
| 2020 | $93.49 million |
Source: SimilarWeb.
SimilarWeb revenue by region
The US market generated $41.44 million for SimilarWeb in 2020. That accounts for 44.32% of the company’s total revenue.
SimilarWeb’s US revenue has increased by 39.06% over the last year. Meanwhile, global growth stands at 32.44%.
Here’s a table showing SimilarWeb’s revenue from customers in the US since 2019:
| Year | Revenue (Share) |
|---|---|
| 2019 | $29.8 million (57.82%) |
| 2020 | $41.44 million (44.32%) |
European customers contributed $28.8 million to SimilarWeb’s revenue in 2020. Revenue from Europe has grown by 33.09% since 2019, slightly faster than the global growth rate.
We’ve charted SimilarWeb’s European revenue since 2019:
| Year | Revenue (Share) |
|---|---|
| 2019 | $21.64 million (30.65%) |
| 2020 | $28.8 million (30.8%) |
SimilarWeb is incorporated in Israel and keeps track of revenue generated from its home country.
Israeli customers contributed $1.32 million to SimilarWeb’s revenue in 2020. The region has shown 57.33% revenue growth over the last year.
Here’s a table with SimilarWeb revenue data from the Israeli market since 2019:
| Year | Revenue (Share) |
|---|---|
| 2019 | $839 thousand (1.19%) |
| 2020 | $1.32 million (1.41%) |
SimilarWeb generated $16.07 million from the Asia Pacific market in 2020, up 16.79% over 2019.
That makes it SimilarWeb’s slowest-growing market.
Here’s the growth in the Asia Pacific market since 2019:
| Year | Revenue (Share) |
|---|---|
| 2019 | $13.76 million (19.49%) |
| 2020 | $16.07 million (17.19%) |
SimilarWeb’s revenue from other international markets (outside of the US, Europe, Israel and Asia Pacific) reached $5.86 million in 2020. That’s an increase of 28.79% over the previous year.
Here’s a table showing SimilarWeb’s international revenue since 2019:
| Year | Revenue (Share) |
|---|---|
| 2019 | $4.55 million (6.44%) |
| 2020 | $5.86 million (6.27%) |
Source: SimilarWeb.
SimilarWeb ARR by customer segment
49% of SimilarWeb’s annual revenue comes from 187 customers, who each contribute at least $100,000 per year.
The other 93.12% of SimilarWeb customers represent 51% of total ARR.
Here’s a breakdown of SimilarWeb’s ARR by customer segment:
| Segment | Share |
|---|---|
| $100,000+ | 49% |
| $25-100,000 | 32% |
| $0-25,000 | 19% |
Source: SimilarWeb.
SimilarWeb operating expenses
SimilarWeb’s operating expenses totaled $91.74 million in 2020. That’s up 38.6% since 2019.
Sales and marketing were SimilarWeb’s biggest outlay. The company spent $53.69 million in this department.
Research and development expenses accounted for a further $22.09 million.
Here’s a complete breakdown of SimilarWeb’s operating expenses in 2020:
| Category | Operating expenses (Share) |
|---|---|
| Research and development | $22.09 million (24.08%) |
| Sales and marketing | $53.69 million (58.52%) |
| General and administrative | $15.97 million (17.4%) |
Source: SimilarWeb.
SimilarWeb acquisitions
SimilarWeb has acquired 3 companies in total.
TapDog, Quettra and Swayy were all acquired in 2014-2015. The company acquired Quettra for a reported $10 million. Swayy was purchased for an estimated $5 million.
Source: Crunchbase.
How many people work at SimilarWeb?
SimilarWeb has 576 employees. 369 of them (64.06%) are based in Israel. The remaining 207 employees (35.94%) work across the US, Europe and Asia Pacific.
Here’s a table with a complete breakdown of SimilarWeb employees by region:
| Region | Number of employees |
|---|---|
| Israel | 369 |
| United States | 120 |
| Europe | 67 |
| Asia Pacific | 20 |
Source: SimilarWeb.
Conclusion
That’s all for my 2023 SimilarWeb stats roundup.
Hopefully, you’ve learned something new about SimilarWeb and its growth story.
SimilarWeb plans to go public in 2021. It will be interesting to see how investors react.
Do you think SimilarWeb is a good web analytics tool? Or are there better products on the market?
Don’t hesitate to let me know if you think I’ve missed something on this page.
Just drop me a line in the comments section below, and I’ll get back to you soon.