Saudi Arabia’s Quantum raises investment from HearstLab
Summary
Saudi Arabia-based adtech Quantum has secured funding as part of its $7 million Pre-Series-A round from HearstLab, the investment arm of Hearst Corporation. Founded in 2020 by Omar Malaikah and Sara Bin Ladin, Quantums platform allows advertisers to select their preferred publishers and purchase ad space directly, while also offering robust data analytics and ROI metrics to maximise campaign impact. The companys platform empowers advertisers to select their preferred publishers and purchase ad space directly, while also offering robust data analytics and ROI metrics to maximise 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. With support of Hearsts 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).Our scout network harnesses the expertise of nearly 200 Hearst employees to support female-led startups, ensuring they thrive in a competitive market, said Eve Burton, Chairwoman of HearstLab. The investment was facilitated by Nejoud Al Mulaik, Fitch Ratings Saudi General Manager, and a HearstLab Scout, who recognised Quantums potential early on.