New York’s DoubleVerify Raises $33 Million to Track Online Media Advertising
New York-based DoubleVerify, which has technology for tracking and verifying online advertising, says today it has raised $33 million in a Series C round of financing led by JMI Equity, based in San Diego and Baltimore, and the Bay Area’s Institutional Venture Partners (IVP). Existing investors Blumberg Capital and First Round Capital joined in the round, which brings DoubleVerify’s cumulative financing to $47 million.
DoubleVerify, launched in 2008, is a private online startup that plays a similar role to the Audit Bureau of Circulations, the nonprofit media group that conducts independent audits of print circulation and readership for advertisers. Using its proprietary software technology, DoubleVerify tracks online advertising to make sure ad campaigns comply with advertisers’ terms, conditions, and buying guidelines. The startup says corporate advertisers, marketing agencies, and others use its technology.
As part of the financing deal, Bob Nye of JMI’s Baltimore office and IVP general partner Dennis Phelps joined DoubleVerify’s board.