DoubleVerify has successfully raised $49.5 million over four funding rounds, establishing itself as a key player in digital media authentication. The platform offers solutions that ensure ad viewability, brand safety, fraud protection, accurate impression delivery, and audience quality across campaigns.
Keep reading to explore the intricacies of DoubleVerify's fundraising journey and the investors backing this innovative platform.
What Is DoubleVerify?
Founded in 2008, DoubleVerify is headquartered in New York City with additional offices in Chicago and Los Angeles. The company was established by Alex Liverant and has grown to employ between 201 and 500 people.
DoubleVerify specializes in authenticating the quality of digital media to safeguard brand integrity. Their solutions ensure ad viewability, brand safety, fraud protection, accurate impression delivery, and audience quality across campaigns.
By providing transparency and accountability in the digital advertising market, DoubleVerify powers the new standard of marketing performance, giving advertisers clarity and confidence in their digital investments.
How Much Funding Has DoubleVerify Raised?
- Series A Funding Round
- Amount Raised: $3.5 million
- Date: May 2009
- Lead Investors: Blumberg Capital
- Motivation Behind the Round: To support the initial growth and development of DoubleVerify's ad verification technology.
- Series B Funding Round
- Amount Raised: $10 million
- Date: March 8, 2010
- Lead Investors: Institutional Venture Partners (IVP)
- Motivation Behind the Round: To continue expanding quickly and innovating for customers, driven by the increased demand for verification services and DoubleVerify's leadership position in the space.
- Series C Funding Round
- Amount Raised: $33 million
- Date: August 30, 2011
- Lead Investors: JMI Equity and Institutional Venture Partners (IVP)
- Motivation Behind the Round: The financing will help DoubleVerify make strategic acquisitions.
Total Amount Raised: $46.5 million. Current Valuation: (~estimated).
Key Investors
- JMI Equity
- Details: JMI Equity is a private equity firm that focuses on investing in software companies. They have a long history of partnering with management teams to help build market-leading companies.
- Investment Focus Areas: Software, healthcare IT, business services.
- Notable Investments: ServiceNow, PointClickCare, Seismic.
- Institutional Venture Partners (IVP)
- Details: IVP is a later-stage venture capital firm that invests in rapidly-growing technology companies. They have a strong track record of backing successful ventures.
- Investment Focus Areas: Digital media, enterprise software, internet and mobile.
- Notable Investments: Netflix, Twitter, Zynga.
- Blumberg Capital
- Details: Blumberg Capital is a venture capital firm specializing in early-stage investments in technology companies. They support passionate entrepreneurs with innovative ideas.
- Investment Focus Areas: Fintech, cybersecurity, enterprise software.
- Notable Investments: Nutanix, Addepar, Braze.
- First Round Capital
- Details: First Round Capital is a venture capital firm that focuses on seed-stage funding for technology startups. They are known for their hands-on approach and extensive network.
- Investment Focus Areas: Consumer, enterprise, healthcare.
- Notable Investments: Uber, Square, Warby Parker.
- Genacast Ventures
- Details: Genacast Ventures is a venture capital firm that focuses on early-stage technology companies. They partner with entrepreneurs to build innovative and disruptive businesses.
- Investment Focus Areas: Enterprise software, cybersecurity, digital media.
- Notable Investments: Demdex, Invite Media, DoubleVerify.
What's Next for DoubleVerify?
DoubleVerify stands at the cusp of significant growth opportunities, driven by the increasing demand for online media verification and compliance. With $33 million in new financing, the company is poised to make strategic acquisitions and expand its workforce, enhancing its proprietary technology. The industry trend towards greater transparency and accountability in online advertising further amplifies these opportunities.
Future fundraising seems likely as DoubleVerify continues to innovate and expand. The company's rapid growth and the rising demand for its services suggest that additional funding rounds could support further expansion and technological advancements. However, challenges such as maintaining its leadership position, integrating new acquisitions, and scaling operations while ensuring service quality remain critical hurdles.
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