DoubleVerify Holdings, which offers a software platform that provides analytics for digital advertising, announced terms for its IPO on Monday.
The New York, NY-based company plans to raise $340 million by offering 13.3 million shares (35% insider) at a price range of $24 to $27. New investor BlackRock intends to purchase up to 10% of the shares in the offering, and the company plans to raise an additional $30 million from Tiger Global Management in a concurrent private placement. At the midpoint of the proposed range, DoubleVerify Holdings would command a fully diluted market value of $4.3 billion.
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 serves over 1,000 customers across all major industry verticals.
DoubleVerify Holdings 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. Goldman Sachs, J.P. Morgan, Barclays, RBC Capital Markets and Truist Securities are the joint bookrunners on the deal. It is expected to price during the week of April 19, 2021.
