DoubleVerify, a US-based digital media measurement software provider backed by mass media company Comcast’s investment affiliate Genacast, has received a majority investment from Providence Equity Partners.
Financial terms of the transaction have not been disclosed. The management team under the leadership of chief executive and president Wayne Gattinella will remain with the business.
Laura Desmond, former chief revenue officer of advertising group Publicis, has been appointed as lead director of DoubleVerify’s board of directors as part of the deal.
David Blumberg, founder and managing partner of Blumberg Capital, has also joined the board. Blumberg Capital will remain a shareholder in DoubleVerify going forward.
Founded in 2008, DoubleVerify produces marketing measurement, data and analytics technology that authenticates advertising displays and ensures websites show appropriate content, thus making sure businesses gain value from their campaigns.
Genacast, the seed-stage venture fund of Comcast in partnership with serial entrepreneur Gil Beyda, participated in $3.5m series A round in 2009. Institutional Venture Partners (IVP) then led a $10m series B round in 2010 with contributions from unnamed existing backers.
The company raised $33m in a series C round co-led by JMI Equity and IVP with participation from Blumberg Capital and First Round Capital in 2011.
Wayne Gattinella said: “Providence Equity has a demonstrated ability to partner with unique data companies to realise accelerated growth and customer adoption.
“With Providence’s sector expertise and strategic insight, DoubleVerify is well positioned to capitalise on the outsized set of market opportunities and to launch new services that define the future of digital advertising engagement.”