Saudi Arabia’s leading adtech platform, Quantum, continues its growth trajectory with new funding, bolstered by global and regional investors.
Riyadh, Saudi Arabia, – Quantum, the Kingdom’s premier adtech and data platform connecting advertisers with publishers, has announced the successful closure of its $7 million Pre-Series-A funding round. The round includes a landmark investment from HearstLab, the venture arm of Hearst Corporation that focuses on scaling early-stage, women-led technology startups. This investment marks HearstLab’s debut in the Middle East, signifying the rapid expansion and potential of Saudi Arabia’s burgeoning tech ecosystem.
Quantum has garnered backing from notable global investors including 500 Global, Vision Ventures, Sukna Ventures, and Tech Invest Com, positioning the company as a frontrunner in the region’s digital transformation efforts. The platform allows advertisers to select publishers and purchase ad space directly, complemented by advanced data analytics and return on investment (ROI) metrics, ensuring campaigns achieve maximum impact.
Co-founded by CEO Omar Malaikah and CTO & General Manager Sara Bin Ladin, Quantum addresses a key gap in the Middle Eastern market by offering a seamless bridge between online publishers and advertisers. Since its establishment in 2020, Quantum has demonstrated remarkable resilience, continuing its expansion amidst global disruptions in advertising budgets.
“HearstLab’s investment represents more than just capital; it is a strategic partnership that will help elevate Quantum’s capabilities, visibility, and reach across the region,” said Sara Bin Ladin. “With HearstLab’s broad expertise across sectors like media, fintech, and analytics, this collaboration will propel us to new heights.” She added that the backing reflects a significant milestone for both Quantum and the broader tech industry in the GCC.
Omar Malaikah, Quantum’s CEO, expressed his pride in being at the forefront of media and data innovation as Saudi Arabia advances towards its Vision 2030 goals. “HearstLab’s investment showcases the immense potential of the Kingdom as a hub for cutting-edge technologies, and we are honored to be leading the charge,” Malaikah said.
Since its inception in 2015, HearstLab has invested in over 70 women-led startups globally, with a combined valuation exceeding $2.5 billion. HearstLab offers startups unique access to Hearst’s extensive resources, spanning over 360 businesses across media, fintech, healthcare, and transportation industries. This strategic support extends to functions such as business development, financial analysis, and product development, with Hearst employees actively contributing their time and expertise to aid in the growth of these startups.
As part of its global expansion, HearstLab has been extending its activities beyond the United States since 2019. It now invests in and supports women-led companies across Europe and Japan, and with the support of Fitch Group, a Hearst-owned global financial information provider, has recently launched operations in the GCC.
“Our network leverages the expertise of nearly 200 Hearst employees who scout and support female-led startups,” said Eve Burton, Chairwoman of HearstLab. “We are thrilled to begin our investment journey in the GCC with Quantum, a company that embodies innovation and leadership.”
The investment in Quantum was facilitated by Nejoud Al Mulaik, Fitch Ratings Saudi General Manager and a HearstLab Scout. Al Mulaik recognized Quantum’s potential early on, noting that the investment is a testament to both Quantum’s success and the growing reputation of the GCC as a hub for technological innovation.
“Fitch has a strong presence in the Middle East, and we are committed to supporting local startups like Quantum,” Al Mulaik shared. “This investment not only underscores Quantum’s success but also highlights the region’s increasing importance on the global tech stage.”
With this new funding and strategic partnership with HearstLab, Quantum is poised to continue its role as a trailblazer in Saudi Arabia’s digital transformation and adtech landscape.
About Quantum:
Founded in 2020, Quantum is a leading adtech and data platform in Saudi Arabia, providing advertisers with tools to optimize their digital campaigns through direct publisher engagement and robust analytics. With the support of global investors, Quantum is at the forefront of the Kingdom’s drive towards technological innovation.
About HearstLab:
HearstLab, launched in 2015, invests in and supports women-led startups, providing access to resources across the Hearst Corporation’s 360+ businesses. HearstLab is dedicated to helping early-stage companies in media, fintech, healthcare, and more, to scale and thrive globally.
