DoubleVerify, an online advertising verification company, announced today that it has raised $10 million in Series B financing from Institutional Venture Partners. Read the release.
Oren Netzer, CEO of DoubleVerify, discussed the raise and the company’s plans.
AdExchanger.com: What were the key characteristics you were searching for in a funding partner?
ON: We wanted an investor that really understands the space well and shares our passion for it, as well as having deep pockets and was comfortable making significant bets. We found all that in IVP. In the past year, we’ve created the verification category and took a clear leadership position of the category. Both us and our investors believe that this category will be dominated by one significant player, much like Nielsen in Television.
Where are the opportunities for growth for DoubleVerify? And, how have these opportunities changed in the past year?
Verification clearly became an essential part of our clients’ media buys in the past year. We believe that verification will become ubiquitous in the next couple of years and an essential part of every campaign. And as the online advertising landscape continues to grow in complexity so will the requirements for verification. For example, with the planned government or industry regulation around behavioral targeting, regulatory compliance will add an additional layer of complexity to online advertising. Verification for regulatory compliance will then become of significant importance. As the leader in the space, these will all be great opportunities for us.
Any thoughts about tackling attribution modeling? It would seem to be a natural extension to validation and verification by helping advertisers discover ROI across campaigns.
Our clients see us as the “auditors” of the online advertising space. As such, we hold ourselves to the highest standards of integrity and are extremely cautious in how we use data that we may have access to and are always fully transparent about its use. We’d stay away from any use of data or any opportunity to expand our business that does not coincide with our core values and our clients expectations.
By John Ebbert
