Quantum Adtech Startup Secures Funding in $7M Pre-Series-A

by | Oct 3, 2024 | Startups News | 0 comments

Saudi Arabia-based adtech platform Quantum has secured funding as part of its $7 million Pre-Series-A round. HearstLab, the investment arm of Hearst Corporation, led the round. This investment marks HearstLab’s first venture in the Middle East, highlighting the region’s growing tech ecosystem.

Quantum’s Innovative Platform

Founded in 2020 by Omar Malaikah and Sara Bin Ladin, Quantum provides a platform that connects advertisers with publishers. It allows advertisers to select publishers and purchase ad space directly. The platform also offers advanced data analytics and ROI metrics to optimize campaign performance. Quantum fills a critical gap in the Middle Eastern market, helping advertisers reach their target audiences effectively.

A Milestone Investment for Saudi Arabia’s Tech Sector

This recent funding from HearstLab strengthens Quantum’s position as a leader in the adtech industry. It also highlights the rapid growth of Saudi Arabia’s tech industry in line with Vision 2030. In addition to HearstLab, Quantum has attracted support from global investors like 500 Global, Vision Ventures, Sukna Ventures, and Tech Invest Com.

This investment showcases Saudi Arabia’s role as a growing hub for technology. Quantum’s founders are driving digital transformation and helping advertisers maximize their digital efforts in a critical e-commerce era.

Strategic Alliance with HearstLab

HearstLab’s partnership with Quantum goes beyond funding. Quantum will gain access to HearstLab’s expertise in media, fintech, and analytics. The company will also benefit from Hearst’s extensive global network. Sara Bin Ladin, Quantum’s CTO, sees this as a strategic alliance that will boost Quantum’s capabilities and visibility.

Omar Malaikah, Quantum’s CEO, expressed pride in being part of Saudi Arabia’s push for technological advancement. He believes this investment underscores the country’s potential as a tech innovation hub.

Expanding HearstLab’s Global Reach

HearstLab has a proven track record in supporting women-led startups. Since 2015, it has invested in over 70 companies globally, with a collective value of over $2.5 billion. Quantum is HearstLab’s entry into the Gulf Cooperation Council (GCC) region, expanding its global reach and supporting innovation in the Middle East.

Quantum: Driving Innovation in the Middle East

Quantum’s technology connects advertisers and publishers, offering solutions that enhance digital advertising. As Saudi Arabia’s digital ecosystem grows, Quantum is set to become a key player in reshaping the advertising landscape. Its focus on data analytics and innovation positions it as a leader in the region’s adtech industry.

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