FoxPush, an emerging Dubai-based AdTech startup has bagged $15 million in funding from JGroup. In exchange for the investment, JGroup has acquired a minority stake in the startup.
For the uninitiated, JGroup is a Lebanese holding company that primarily focuses on advertising, media, and real estate, among other industries.
Neither parties have so far divulged how much stake JGroup currently owns in FoxPush after the deal was inked. Meanwhile, FoxPush has also confirmed that this is the first round of external funding for the company.
Launched in 2016 by co-founders Ahmed Elsayed and Mohammed AlMali, FoxPush has made an impact in the regional AdTech industry by way of its programmatic advertising platform based on the cost-per-lead buying model.
The company claims that its unique platform offers a superior Lead Generation technology that provides brands with qualified leads. Among other perks, this helps businesses to enhance the performance of their websites while simultaneously boosting the efficiency of their targeted digital campaigns.
FoxPush also offers a service that enables publishers to leverage a native push-notification option for developing and retaining a loyal audience. The company claims that as of today, as many as 50,000+ portals from all over the world use this service including some of the most popular regional media outlets in MENA.
“Our technology is the region’s first innovative solution that makes sure every brand has valuable interactions with their target audience to improve their campaign, increases the performance of their website, and most importantly, helps meet their business goal. In line with this mission, we are pleased to have JGroup on our side. With their support, we aim to enhance this technology further and strengthen our presence globally,” said Mohammed AlMalki, co-founder and CEO at FoxPush.
The startup reportedly plans on utilizing the newly raised capital to launch what it calls the first Arabic demand-side platform.