Riyadh – Sharikat Mubasher: Quantum, Saudi Arabia’s leading ad-tech and data platform that connects advertisers with publishers, announced securing a funding as part of its $7 million Pre-Series-A round from HearstLab, the investment arm of Hearst Corporation dedicated to scaling early-stage, women-led tech startups.
This marks HearstLab’s inaugural investment in the Middle East and underscores the rapid growth of Saudi Arabia’s tech ecosystem, as per a recent press release.
Quantum, also backed by global investors such as 500 Global, Vision Ventures, Sukna Ventures, and Tech Invest Com, recently completed its latest funding round, positioning itself as a trailblazer in the region’s digital transformation. The company’s platform empowers advertisers to select their preferred publishers and purchase ad space directly, while also offering robust data analytics and ROI metrics to maximize campaign impact.
Founded by CEO Omar Malaikah and CTO and General Manager Sara Bin Ladin, Quantum addresses a crucial gap in the Middle Eastern market by bridging online publishers with advertisers during a critical period of e-commerce growth. Since its inception in 2020, the company has shown impressive resilience and expansion, despite broader challenges in global advertising budgets.
Sara Bin Ladin, CTO and General Manager of Quantum commented: “HearstLab’s investment represents a significant milestone not only for Quantum but also for the region’s tech industry. This partnership is more than just an investment; it’s a strategic alliance that will enhance our capabilities, visibility, and create new opportunities across the region. With HearstLab’s extensive expertise across sectors like media, fintech, and analytics, we are confident this collaboration will propel us to new heights.”
Omar Malaikah, Quantum’s CEO, added, “As Saudi Arabia pushes forward with Vision 2030, we are proud to be at the forefront of media & data innovation. HearstLab’s backing shows the great potential that Saudi Arabia has as a hub for cutting-edge technologies in all sectors.”
Since 2019, HearstLab has expanded its activities outside the United States and is currently investing in and supporting women-led companies in the Netherlands, the United Kingdom, Spain, and Japan. With the support of Hearst-owned global financial information services provider, Fitch Group, and the Fitch Ratings’ international offices, HearstLab is now live in the Gulf Co-operation Council (GCC).
Eve Burton, Chairwoman of HearstLab stated: “Our Scout network harnesses the expertise of nearly 200 Hearst employees to support female-led startups, ensuring they thrive in a competitive market. We are excited to launch our investing efforts in the GCC region, starting with Quantum, a company that exemplifies innovation and leadership.”
The investment was facilitated by Nejoud Al Mulaik, Fitch Ratings Saudi General Manager and a HearstLab Scout, who recognized Quantum’s potential early on. He further added: “Fitch has a strong presence in the Middle East, and we are committed to supporting local startups like Quantum. This investment not only highlights Quantum’s success but also underscores the GCC’s growing reputation as a center for technological innovation.”
