Saudi-based Quantum raises $2.6 million in seed funding to help brands grow with product trials and analytics
Marketers can now take data-driven decisions in real-time and increase ROI
Jeddah, Saudi Arabia - 4 April 2021: Quantum, a Jeddah-based marketing platform that helps brands acquire new customers using digital sampling and different other tools, has raised $2.6 million in seed funding. Tech Invest Com and Vision Ventures led the round with the participation of 500 Startups and angel investors.
Omar Malaikah founded Quantum in 2018 after realizing that marketers don't have enough online tools to launch and grow brands. In the offline world, brands were still using product sampling marketing but they had no way to reach targeted audiences or measure the conversion.
To change that, he started testing with e-commerce platforms like Nana, Zad Fresh, Wssel, and Careem. He dropped samples of products from companies like Unilever and Proctor & Gamble to targeted customers of e-commerce platforms. The results were remarkable.
As the idea gained traction, Quantum quickly evolved into a data-powered marketplace for marketers to acquire new customers through unique advertising services - ranging from targeted sampling to e-commerce media buying. Operating across 12 cities in Saudi Arabia and Kuwait, Quantum does all the heavy lifting for brands by matching their products with the right target audience, managing the logistics of shipping and distribution, and offering real-time reports and insights.
With the help of newly raised capital, Quantum will further improve its proprietary technology, grow the team, and expand into UAE and Egypt.
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 40% increase in ROI. The company has delivered 6 million targeted samples for leading local and multinational brands including Nestle, PEPSICO, Mondelez, Kimberly-Clark, Goody, Savola, SADAFCO, and Mars in addition to other leading brands.
Tameem Alghunaim, Partner and COO of Quantum, said, “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.”
During Covid-19, e-commerce growth has been phenomenal. This has created the need for brands and retailers to expand their reach locally and globally. With almost $22 billion dollars spent on marketing in the MENA region, Quantum is poised to help these brands achieve their growth while forging ahead as pioneers in this market.
Hashim AlAwadi, CEO of Tech Invest Com commented: “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 ecommerce partners, as well as end consumers.”
Kais Al Essa, Founding Partner and CEO of Vision Ventures said: “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.”
For its clients, Quantum's platform creates a collaborative integration between any company with physical samples & a wide range of online businesses for samples to be delivered to the target audience's doorstep. With the help of technology, 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.
For more information:
Quantum marketing technologies LTD
Tech Invest Com
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