DoubleVerify Holdings, which offers a software platform that provides analytics for digital advertising, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering. However, this is likely a placeholder for a deal we estimate could raise up to $500 million.
DoubleVerify states that it is a leading software platform for digital media measurement and analytics, providing unbiased data analytics that enable advertisers to increase the effectiveness, quality, and return on their digital advertising investments. The company generates revenue from its advertising customers based on the volume of ads that its software platform measures, for which it receives an analysis fee.
The New York, NY-based company was founded in 2008 and booked $244 million in revenue for the 12 months ended December 31, 2020. It plans to list on the NYSE under the symbol DV. DoubleVerify Holdings filed confidentially on September 22, 2020. Goldman Sachs, J.P. Morgan, Barclays, RBC Capital Markets and Truist Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
