Online advertising verification service DoubleVerify announced second round funding of $10 million. The round was led by Institutional Venture Partners (IVP) and included participation from previous investors Blumberg Capital, First Round Capital, Genacast Ventures as well as private backers.
The proceeds of this round will be dedicated to fuel the company’s growth as it continues to scale from strength to strength. DoubleVerify reportedly grew from 10 to 45 employees in 2 quarters and is currently serving 25 billion impressions per month.
The reason for the rapid growth is given in the official press release:
DoubleVerify provides a technology solution that delivers transparency and accountability for agencies, marketers, publishers and ad networks running online ad campaigns. Advertising verification has created a fundamental shift in the online industry that for first time allows marketers to accurately verify their campaigns for brand safety, delivery accuracy and regulatory compliance. Major agencies and marketers have adopted verification in the past year, many of which have mandated the use of DoubleVerify across their entire online media spend.
Founded by Oren Netzer (CEO) and Alex Liverant (CTO) in 2008, DoubleVerify is headquartered in New York and has it engineering offices in Tel Aviv, Israel. The company most recently raised a $3.5 million first round last May.