(TECH) Online Ad Verification Solution Provider DoubleVerify Raises $10 Million

"Online ad verification solution provider DoubleVerify has closed a $10 million in a second financing round led by Institutional Venture Partners (IVP), and with the participation of existing investors. In May 2009 DoubleVerify had closed a $3.5 million first investment round led by Blumberg Capital, with participation of First Round Capital, Genacast Ventures and private investors.

DoubleVerify provides a technology solution that delivers transparency and accountability for agencies, marketers, publishers and ad networks running online ad campaigns. The company currently verifies over 25 billion impressions per month.

Studies that DoubleVerify had conducted on behalf of several leading U.S. brand advertisers had shown non-compliance and waste between the media plan and actual ad delivery averaging at 20% of advertising budgets. These non-compliance situations range from ads that are delivered to the wrong audience on the website or at the wrong time. According to DoubleVerify's estimations, media delivery non-compliance costs online advertisers over $3 billion annually and may exceed $10 billion within 5 years.

“We feel fortunate to experience such rapid growth in the past year, and this funding will help us continue expanding quickly and innovating for our customers,” says Oren Netzer, CEO of DoubleVerify. “The increased demand for verification and our leadership position in the space has allowed us to attract top-tier venture capital firms such as IVP."

DoubleVerify was founded in February 2008 by Netzer and Alex Liverant, the company CTO. DoubleVerify is headquartered in New York City, with engineering offices in Tel Aviv, Israel." (source)

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