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.
Author: Bruce V. Bigelow
In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here.
Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University.
Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.
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