A Pioneer in Digital Media Measurement and Analytics
The Blumberg Capital Team
Today is an exciting day for our portfolio company DoubleVerify [NYSE: DV], a pioneer in digital media measurement and analytics, who launched on the NYSE this morning. From its beginnings to IPO, it has been a pleasure being a part of the journey – supporting visionary entrepreneurs and the talented management team, as DV emerged as an industry leader.
This success story began when Oren Netzer, co-founder of DoubleVerify, was reading The New York Times in his Tel Aviv apartment and saw a digital ad for Target, the U.S. domestic retailer. He assumed that Target was launching in Israel, but it wasn’t the case. The “light bulb” went off as Oren discovered the huge unsolved problem that would launch DoubleVerify. In the months thereafter, Oren and his co-founder, Alex Liverant, invented technological solutions that eventually solved this problem and others for major brand advertisers – starting with geo verification and expanding into media quality inclusive of fraud, brand safety and viewability. Research at the time found that up to 31% of all online ads were delivered to the wrong geography, targeted the wrong audience or were responsible for compliance issues.
As DoubleVerify’s first institutional investor in 2008, we shared the founders’ enthusiasm in pioneering this breakthrough technology, solving an important and complex problem for digital media. It was energizing to join early customer pitches, recruit leadership, and promote DoubleVerify at tradeshows, industry events and to potential investors. It validated our continued support and investment as the largest shareholder, up to the round led by Providence Equity Partners.
It’s been an incredible partnership working with DoubleVerify’s management team and co-investors, throughout its remarkable growth. The company has evolved with the media landscape and has always been committed to bringing transparency and accountability to the market, including brand safety and fraud protection. Since those early days in 2008, DoubleVerify has served hundreds of Fortune 500 clients.
Congratulations team DV! It is gratifying to be a part of DoubleVerify’s ongoing mission to make the digital advertising ecosystem stronger, safer and more secure.
To learn more about the IPO, read the official announcement here.