ArabyAds, an advertising technology startup based in the MENA region, recently made the announcement that it had secured a Pre-Series B funding round of $30 Million USD from AfricInvest.
ArabyAds, an Egyptian company founded in 2013, assists advertisers in customer acquisition, retention, and monetization by utilizing its technology platforms for influencer marketing (iConnect), coupon-based advertising (Boostiny), retail media (Ritelo), live commerce (Dmenta), and on-device contextual advertising. ArabyAds has offices in the UAE and tech hubs throughout Egypt, Tunisia, and Jordan (Deviceboost).
“We are happy to welcome AfricInvest as one of our long-term investors and thank them for placing their trust in our mission to produce value for all stakeholders in the ecosystem,” said Mahmoud Fathy, Chief Executive Officer and Co-Founder of ArabyAds. He continued, “ArabyAds has been setting the standard for performance advertising delivery with its platform services and is devoted to revolutionizing the digital advertising environment with innovation. Our foundation is solid, and as one of the MENA region’s fastest-growing and most profitable businesses, ArabyAds is currently looking to expand its presence in newer markets where it can use its scalable, secure, and end-to-end platforms to assist e-commerce companies in scaling easily around the world.
“We are thrilled to work with ArabyAds at a time when the technology firm is striving to further disrupt the AdTech market through its transformational technology platforms,” said Skander Oueslati, Chief Investment Officer of AfricInvest. In the MENA region, ArabyAds has built a strong brand and a solid reputation. It is well known for its dependability and proficiency in digital marketing and advertising.
ArabyAds will use the additional funding to increase its reach and make more investments to promote its technological development and hire more personnel to assist growth.