DoubleVerify, a pioneer in online media verification and compliance, has received USD33 million in financing led by JMI Equity and Institutional Venture Partners (IVP), two later stage US venture capital and private equity firms focused on investing in rapidly-growing software, Internet and business services companies.
Other participants in the round included previous investors Blumberg Capital and First Round Capital. In conjunction with the financing, Bob Nye of JMI Equity and Dennis Phelps of Institutional Venture Partners have joined the company’s Board of Directors. This investment brings the company’s cumulative financing to USD47 million.
Since the company’s launch in 2008, DoubleVerify has developed the standard for online media verification for advertisers, agencies, ad networks, DSPs, exchanges and publishers. Using its proprietary, patent-pending technology, DoubleVerify has driven accountability and transparency for the online advertising ecosystem by tracking actual delivery of campaigns to verify that they are in compliance with the advertisers’ insertion order terms, conditions and buying guidelines. DoubleVerify is utilised by more than 200 of the leading Fortune 500 marketers, all six of the major agency holding companies, and is accepted and integrated with all major publishers and sell-side platforms.
"Despite the growing complexity of online advertising, DoubleVerify has bridged the gap between what advertisers expect and what ad selling channels deliver, raising the accountability, trust and ROI in the industry," says Oren Netzer, CEO of DoubleVerify. "We are excited about the new addition of JMI Equity to our core group of investors. Their pedigree and track record for growing digital media will be an asset in further establishing our leadership in online media verification and will help us drive more innovation in online measurement, advertising accountability and planning to ensure the trust and viability of this segment."
