Online Ad Monitor DoubleVerify Raises $10 Million Second Round

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Online ad manager DoubleVerify has raised a $10 million second round funding. The round was led by Institutional Venture Partners. Previous investors Blumberg Capital, First Round Capital, Genacast Ventures and private backers also returned to provide the larger funding. The company, which is based in New York and has offices in Israel, raised a $3.5 million first round last May. The much larger round this time will go towards what the start-up says has been impressive growth. In particular, it claims that it became profitable after two quarters and went from 10 to 45 employees in less than a year. While a number of young online ad companies felt even more squeezed by the dismal economy last year, the recessionary pressures seemed to have led to more business, since DoubleVerify’s promise of monitoring how well marketers’ insertion orders are completed filled a pretty big void. Release

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