SOURCE: DoubleVerify

 

NEW YORK, NY--(Marketwire - May 18, 2009) - DoubleVerify, which pioneered online media verification, today announced that following a highly successful trial and ramp-up of its real-time verification solution for online advertising transactions, that it has formally launched. During the past few months, a number of blue-chip advertisers including one of the top 3 banks, one of the top 3 telecommunication companies and one of the top 5 pharmaceutical companies began mandating use of DoubleVerify on most of their media buys.

Using proprietary, patent-pending technology, DoubleVerify helps agencies, marketers, publishers and ad networks increase online advertising accountability and transparency by tracking the actual delivery of clients advertising campaigns and verifies that they are being delivered in compliance with the advertiser's insertion order terms, conditions and buying guidelines. This allows marketers and their agencies to identify and remove budget waste from their campaigns, safeguard the reputation of their brands online, uphold regulatory compliance requirements and verify that they fully capitalized on their marketing opportunities. Currently DoubleVerify is being tested or used by over two dozen Fortune 500 marketers in various industries such as telecom, financial, entertainment, pharma, tech and travel.

DoubleVerify enables publishers and ad networks to be more proactive and pre-emptive with clients increasing their accountability, minimizing trafficking mistakes, reducing reconciliations and make-goods, speeding up collections and attracting more brand dollars to their sites or networks. Currently the company is in discussion with over 10 ad networks including 3 of the top 5 on implementing DoubleVerify as a standard part of their client offering.

DoubleVerify today also announced it has closed a $3.5 million Series A financing led by Blumberg Capital, with participation from First Round Capital, Genacast Ventures and private investors. David Blumberg, Managing Partner, Blumberg Capital; Chris Fralic, Partner, First Round Capital; and Gil Beyda, Managing Partner, Genacast Ventures will join Oren Netzer, Co-Founder and CEO of DoubleVerify on the company's Board of Directors.

"This financing and the major client wins are a testament for the importance of having an objective, third-party verification solution in the market. Marketers and their agencies have been flying blind for too long. Now that digital marketing has become an important part of the marketing strategy and significant resources are being devoted to it, marketers need to know that they are getting what they paid for," says Mr. Netzer.

"Anything that eliminates waste in online advertising is a huge plus for everyone involved in the Internet economy. DoubleVerify is making sure the advertiser/agency gets what they ordered and that the impressions that have near zero value are eliminated," says Greg Stuart, former CEO of the IAB and co-author of What Sticks. "This will help raise the value of the ads that are served as ordered and improve the ROI for marketers. It will also enforce accountability and discipline on publishers and ad networks."

DoubleVerify spent over a year gradually testing and implementing its technology with major agencies, marketers and ad networks, and has become a vital part of their online advertising campaigns. DoubleVerify is currently verifying billions of advertising transactions per month.

"We've been very impressed with the rapid adoption of DoubleVerify's solution by major clients," says Mr. Blumberg. "Accountability and compliance have become major issues for both buyers and sellers of online advertising. DoubleVerify has strongly emerged as the leader in this space."

"This is a win for the online advertising industry," says Gil Beyda, Managing Partner at Genacast Ventures. "I have been in online advertising for nearly 15 years and DoubleVerify finally delivers advertisers and agencies much-needed buying confidence and accountability as they shift more and more of their advertising budgets online."

Blumberg Capital (www.blumbergcapital.com) is a classic, early-stage venture capital firm focused on investing in innovative and disruptive information technology companies in the US and Israel. Over the years the company has had great success investing in companies that have grown to become market leaders such as Check Point Software [CHKP], Creo [CREO], DSP Group [DSPG], Electronics for Imaging [EFII] and Teva [TEVA], among others. To date, the firm has made 33 investments and handled 16 acquisitions and IPOs.

First Round Capital (www.firstround.com) First Round Capital is a seed-stage venture capital firm dedicated to helping talented entrepreneurs build remarkable companies. First Round Capital typically funds pre-revenue companies -- and often provides a company's first outside capital. As former entrepreneurs, the partners at First Round understand the challenges of launching a new enterprise, and offer insight and expertise that are as valuable as its venture capital. The firm has invested in over 70 early stage companies.

Genacast Ventures (www.genacast.com) Genacast Ventures is a seed-stage venture fund investing in technology-centric, Internet start-ups committed to helping exceptional entrepreneurs build great companies. The firm's extensive technology and operating expertise provide entrepreneurs a competitive advantage. Genacast was founded by serial entrepreneur Gil Beyda, founder of Real Media and former CTO of TACODA, and Comcast Interactive Capital. Portfolio companies include Invite Media, Demdex and DoubleVerify.

DoubleVerify (www.doubleverify.com) is the leading provider of online media verification solutions, providing agencies, marketers, publishers and ad networks with the first fully automated, fully authenticated, third-party verification solution for internet advertising transactions. DoubleVerify helps increase advertising accountability by detecting and preventing waste or misuse of advertising budgets and by helping take proactive measures to maintain brand reputation and increase accountability. DoubleVerify monitors billions of advertising transactions per month for major Fortune 500 marketers. DoubleVerify is headquartered in New York City, with engineering offices in Tel Aviv, Israel.