DoubleVerify, the ad-technology firm that monitors digital media fraud, says revenue rose 34% to $244 million in 2020 -- coming from 1,000 advertising clients, 45 of which represent at least $1 million in annual revenue.
Results come from the company’s SEC filing for its initial public offering.
Some 61% of its transactions came from mobile-device activity, 32% from desktop devices, and 3% from emerging digital channels, which include CTV.
It sees CTV as a major growth area around issues of fraud. Based on its analysis, the company says fraud impressions rose 220% in 2020 over 2019 -- identifying over 5,000 fraudulent CTV apps.
In its IPO filing, it adds: “Even when an ad is verified to be fraud-free, there is no certainty that it is actually viewable,” citing results from Merkle, a performance-marketing agency, that notes more than 40% of placed digital ads are deemed unviewable.
The company also sees major business gains coming from continued rising programmatic media platforms, as well as growing importance over “brand reputation.”
While brands and advertisers have been its main business focus, 9% of its business came from supply-side customers in 2020.
Net income was $20.5 million for 2020 -- down from $23.3 million in 2019.