Alignment-based methods for sequence analysis have various limitations if large datasets are to be analysed. Therefore, alignment-free approaches have become popular in recent years. One of the best known alignment-free methods is the average common substring approach that defines a distance measure on sequences based on the average length of longest common words between them. Herein, we generalize this approach by considering longest common substrings with k mismatches. We present a greedy heuristic to approximate the length of such k-mismatch substrings, and we describe kmacs, an efficient implementation of this idea based on generalized enhanced suffix arrays.