• by Gavin O'Malley  @mp_gavin, March 8, 2010

Digital media-verification company DoubleVerify has raised a $10 million series B financing round led by Institutional Venture Partners, the company said Monday. Launched in May 2008, DoubleVerify launched its real-time verification solution for online ad transactions last May. At about the same time, the company closed a $3.5 million Series A financing found led by Blumberg Capital, with participation from First Round Capital, Genacast Ventures and private investors.

Late last year, video ad network Tremor Media tapped DoubleVerify for increased accountability and transparency of video ad campaigns. Tremor serves in-stream and in-banner video ads across a network of over 1,500 mid-tier and premium sites including WWE.com and WSJ.com.

Presently, DoubleVerify's platform and technology now verifies over 20 billion monthly impressions on behalf of marketers in a range of verticals, including telecom, pharma, retail, finance, CPG, and entertainment.

Oren Netzer, DoubleVerify co-founder and CEO, attributed the company's success to "the increased demand for verification."

Tracking the delivery of clients' ad campaigns theoretically 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.

According to DoubleVerify data, using embedded pixels in client advertising and a patent-pending crawler system, 70% of impressions that are delivered on the Internet are implemented in a type of HTML code called nested IFRAMES.

When nested IFRAMES exist, other solutions have difficulty identifying which site and page the ad is actually delivered on, which means they need to "block" the ad in 70% of the cases and are effectively creating a 70% discrepancy between sell-side and buy-side impression counts.

DoubleVerify had ported its capability to "see through" nested IFRAMES from its existing reporting and remediation service as well, giving it the ability to accurately qualify and see through nearly 100% of the impressions and minimize any possible discrepancy issues.