Private equity firm Providence Equity revealed today that it has invested heavily in DoubleVerify, an analytics player that helps brands determine the effectiveness of their digital media buys.
The Wall Street Journal reported that the investment totaled $200 million, putting a $300 million value on DoubleVerify. Providence Equity and DoubleVerify couldn’t be reached for comment.
Wayne Gattinella, president and CEO of DoubleVerify, said in a statement: “With Providence’s sector expertise and strategic insight, DoubleVerify is well positioned to capitalize on the outsized set of market opportunities and to launch new services that define the future of digital advertising engagement.”
Companies like this have become hot commodities because they can help major digital ad buyers have more confidence in their purchases in light of problems such as brand safety and fraud. In April, Oracle reportedly paid $850 million for DoubleVerify competitor Moat. At that juncture, Moat joined other notable Oracle acquisitions in recent years like Datalogix and BlueKai on the Oracle Data Cloud.
Meanwhile, DoubleVerify competitor Integral Ad Science (IAS) has industry observers believing it will be snatched up soon. In a statement emailed to Adweek this morning, IAS CEO Scott Knoll hinted that that could be the case.
“As brand safety, ad fraud and viewability trends as top priorities for CMOs, I expect we’ll see continued interest from the industry in companies that address these challenges,” he said.