Ad verification startup DoubleVerify has raised a fourth round of $33 million from private equity fund JMI Equity and Institutional Venture Partners (IVP). According to Ynet, the deal values DoubleVerify at $200 million. JMI knows quite a bit about display advertising, having bought DoubleClick before its $3.1 billion acquisition by Google. To date, DoubleVerify has raised $16.5 million, excluding the current round, from First Round Capital, Blumberg Capital, Comcast and IVP fund.
In the official press release Bob Nye, Vice President at JMI Equity, said:
“DoubleVerify created the online media verification category, and has successfully grown to become the leader in that category. The company has been extremely successful in developing and utilizing new solutions to build trust and transparency for companies in the online advertising ecosystem. It has the potential to expand into all aspects of media measurement, accountability and compliance across the globe.”
Founded in 2008 by Oren Netzer (CEO) and Alex Liverant (CTO), DoubleVerify has 160 employees in their two offices in Tel Aviv (R&D) and New York (Sales) and it plans to add another 50 by the end of the year. The company provides online advertising verification to clients, ensuring that their ads are in compliance with the advertiser’s insertion order terms, conditions and buying guidelines.
Netzer told Calcalist that DoubleVerify is planning to go public, and that it is not a coincidence they’ve chosen the company that dealt with DoubleClick. He also shared that Doubleverify is developing technology that will enable the company to not only verify the format and placement of the ad, but also to check the demographic data of the ads viewers. For example, how many men viewed the ad, what was their age range, location, etc.
The proceeds of the round will be used for accelerated growth – both in terms of recruitment and potential acquisitions in the advertising space. The company is also planning to open a London office, according to several LinkedIn job ads.
Watch this video of DoubleVerfiy in action: