competelogo.jpgBoston’s Compete, Inc, the company that provides analysis on Web traffic, has raised $10 million in its third round of financing.

Online advertisers and marketers are hungry to know where and how to spend their resources, and online analytics is a hot market. At the end of June, Comscore, a leading web metrics company, enjoyed an $82.5 million IPO, and Quantcast, another analytics company, raised around $5.7 million in March.

Compete is most well known for its consumer site,, which, like Alexa and Quantcast, offers estimates on websites’ traffic for free. But the company’s bread and butter comes from selling data that measures the effectiveness of companies’ online campaigns, monitors activity on their competitors’ sites and helps optimize their targeting.

Recently, Compete’s founders have shifted their attention away from the company they started. Co-founder David Cancel has left to launch Lookery, an advertising network for Facebook applications, and co-founders TJ Mahoney and Carl Query are apparently working on Flipkey, which hopes to take the vacation house rental market like a herd of Spanish bulls.

The round, which included original investors Charles River Ventures, Idealab, Split Rock Partners and William Blair Capital Partners, brings the total raised to $43 million since the company’s inception in 2000.