A company can only stay free for so long. With ten’s of millions of end users of their products, SimilarGroup is looking to monetize
SimilarGroup, an Israeli startup and makers of SimilarWeb – a Web analytics research tool to discover Web traffic insights of other websites – announced today (Tuesday) the completion of a series B round valued at 3.5M. The round was lead by Lord David Alliance, chairman of N Brown Group with participation by Moshe Lichtman and Docor International. The current round brings Similar Groups total funding to date at $7M.
SimilarGroup has a suite of browser plugin products that offers users website recommendations, Web rankings, traffic data, website tagging and more. Their branded plugins along with hundreds of other affiliate plugins serves as networked engine for Web analytics with each user having one of these plugins functioning as a node in the network for Big data input.
A network of users
Until now, SimilarGroup’s products have been mostly free, a strategic move for end user penetration that has gained them “tens of millions” of end users according to Or Offer, and it appears the time has come to start monetizing. Along with their funding announcement, SimilarGroup is also announcing the launch of their first paid for product, SimilarWeb Pro. Since their beta launch till today the company claims to have signed up hundreds of business clients including William Hill, New England Business Media, Taboola and Fan Playr.
Their plans Basic, Advanced and Enterprise packages. The Basic package is priced at $99 and offers users one account with traffic and engagement metrics, geographic breakdowns and a limited offering of referrals, organic search, paid search, social traffic and display advertising traffic. The Advanced package is listed at $499 and offers three accounts with the same features, minus the limitations. Enterprise accounts begin at $2,999 and five accounts and offers the additional features of country breakdown and popular pages analytics.
SimilarGroup’s biggest challenge here is to convince users that the free service they’ve been getting up until this point just isn’t good enough. That’s not an easy sell. often times businesses, especially small and mid sized operations work based on generalities. It’s easier for them they’re usually wearing way too many hats to begin with to have the luxury of delving into in depth analytics. Larger corporations with dedicated corporate intelligence arms would have a field day with this though. This is one case where i can see the Enterprise plan actually getting more action than the lower tier packages.