KSA's Quantum raises $2.6M Seed funding
Quantum, a Jeddah-based marketing platform that helps brands acquire new customers using digital sampling and other tools, has raised $2.6M in Seed funding. The round was led by Tech Invest Com and Vision Ventures, with the participation of 500 Startups and angel investors.
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Founded in 2018 by Omar Malaikah, Quantum has evolved into a data-powered marketplace for marketers to acquire new customers through advertising services - ranging from targeted sampling to E-commerce media buying. Operating across 12 cities in Saudi Arabia and Kuwait, Quantum matches brands' products with the right target audience, managing the logistics of shipping and distribution, and offering real-time reports and insights.
For its clients, Quantum's platform creates a collaborative integration between any company with physical samples and a wide range of online businesses for samples to be delivered to the target audience's doorstep. Quantum enables clients to target customized audiences based on their objectives, gives them access to more than 100+ unique channels to advertise, and enhances their campaigns by providing strategic reporting and analytics.
Omar Malaikah, CEO of Quantum said, “We are privileged to have leading investors who understand our business model and back our vision. During COVID-19, we worked closely with our clients and helped them continue their marketing activities by taking advantage of Quantum’s technology to further grow their business.
“Our strategy is to continuously deepen our capabilities and provide a seamless digital process to create proven product trials that utilize consumer-behavior- analysis. Marketers can take real-time decisions to optimize their campaigns, reduce costs, and scale their business to the next level.”
By using Quantum’s data-driven tools, marketers can target the right audience for their products which results in up to a 40% increase in ROI, the startup states. The company has delivered 6 million targeted samples for local and multinational brands including Nestle, PEPSICO, Mondelez, Kimberly-Clark, Goody, Savola, SADAFCO, and Mars.
Tameem Alghunaim, Partner and COO of Quantum commented, “By synergizing marketing, supply chain, and data analytics, our algorithm optimizes brands' reach to deliver the right marketing material to their target audience across the MENA region. We have recently signed exclusive deals with leading E-commerce companies in the region and have a healthy pipeline of clients and partners.”
Hashim AlAwadi, CEO of Tech Invest Com said, “Quantum’s technology segments and builds accurate consumer profiles based on demographics, interests, shopping habits, etc. This enables targeted sampling based on the brand’s consumer persona over several distribution channels in a single campaign. Real-time performance data, leading to increased efficiencies and ROI, brings value to brand owners and E-commerce partners, as well as end consumers.”
Kais Al Essa, Founding Partner and CEO of Vision Ventures added, “Quantum bridges a critical gap in the region by digitizing the offline marketing activities with real-time metrics and numbers. It has never been done before. The value Quantum brings to brands is second to none and we anticipate its abilities will only increase with the use of big data and analytics down the road.”
Quantum will use the capital to further improve its proprietary technology, grow the team, and expand into the UAE and Egypt.
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