DoubleVerify Receives $33m for Ad Tracking Service

Online ad verification service DoubleVerify has closed a $33m round of funding, which it will use to expand its proprietary, patent-pending technology, which tracks actual delivery of ad campaigns.

DoubleVerify is used to check that ads and sites adhere to the Digital Advertising Alliance's self-regulatory program for online behavioral advertising (OBA), which requires that all members that collect or allow third parties to capture user data for behavioral ads or re-targeting, provide consumers with details about online privacy.

The service is also used to check that ads do not run on sites that include malware or adware, are placed above the online 'fold', are placed outside national and international targeting criteria, and do not contain inappropriate content.

DoubleVerify's latest financing has been led by JMI Equity and Institutional Venture Partners (IVP), along with previous investors, and brings the company's cumulative financing to $47m. Funds will be used to fuel DoubleVerify's global growth, and allow it to make acquisitions to enhance its suite of products.

As part of the deal, Bob Nye of JMI Equity and Dennis Phelps of IVP have joined the company's Board of Directors.

Oren Netzer (pictured), CEO of DoubleVerify, comments: '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.'

Web site: www.doubleverify.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.