Prism first landed on the scene earlier this year following a dramatic pivot to Shine's business model away from ad-blocking and instead to serve as an ad verification tool. The company was initially relaunched under the name Rainbow via a significant ad campaign, but has since rebranded again to Prism.
It's understood the IAB sees an opportunity for Prism to assist in helping the ad body meet the goals of its recently-unveiled 'Gold Standard' pledge.
Prism uses first-party data – gathered by asking consumers to opt-in – to "create better relationships" between mobile networks, internet providers, publishers and advertisers.
For consumers, it filters out the ads that don't meet industry standards before they are served. Such standards include the IAB's LEAN principles, which recommend ads should be served via light file sizes, encrypted for online security, display the 'ad choices' icon and be non-invasive to a user's online experience.
Advertisers and publishers looking to get their ads verified have to go through a verification process by submitting their ads for approval; a service that is free of charge. Internet and mobile carriers can monitise this data, offering brands insights in return.
Co-founder and chief revenue officer at Prism, James Collier, said that his company has fundamentally altered its course from where it began as Shine, shifting away from "unhealthy" rhetoric and a myopic view of the digital advertising ecosystem.
"The fact that the IAB board voted for Prism to join IAB it reflects both our success in demonstrating our new direction and the absolute need in the marketplace to have a functional way to improve the online advertising experience," he added,
"We will be working closely with the IAB and with the advertising industry at large to fundamentally improve how ads work and are experienced by the consumer, with their contract of consent at the heart of our business proposition."