Local adtech outfit Quantum closes USD 7 mn pre-series A

Local ad tech and data platform Quantum recently closed a USD 7 mn pre-series A funding round, with participation from US-based and women-led VC HearstLab, according to a press release. Additional details on the size of individual investor contributions and the use of proceeds were not provided

The pitch: Quantum was co-founded in 2020 by CEO Omar Malaikah (LinkedIn) and CTO and General Manager Sara Bin Ladin (LinkedIn). The company provides advertisers with the ability to directly select publishers and purchase ad space while tracking data and performance. Its platform is designed to help advertisers maximize the impact of their marketing campaigns while bridging gaps between online advertisers and publishers. Quantum has overseen upwards of 200 campaigns with a 70% average conversion rate.

Fitch Ratings Saudi General Manager Nejoud Al Mulaik (Linkedin), who is also a HearstLab Scout, facilitated the investment by pitching Quantum to the VC fund.