FoxPush, a Dubai-based adtech startup has raised US$15 million from JGroup, a company with a huge portfolio of subsidiaries across the Middle East, Europe, Asia, and the US. FoxPush released a statement to announce the transaction without disclosing the exact stake its investment in the adtech startup will be worth.
Founded in 2016 by Mohammed AlMalki and Ahmed Elsayed, FoxPush has developed a programmatic advertising platform that uses cost-per-lead as a buying model. The Dubai-based homegrown company claims it proprietary Programmatic Lead Generation technology delivers qualified leads to brands.
Imad Jomaa, founder and president of JGroup said: “FoxPush is one of the top players in digital advertising within the Middle East and North Africa region and home to more than 50,000 publishers. This Dubai-based homegrown company has taken a giant leap within the advertising sector with its new, one-of-a-kind Programmatic Lead Generation technology that is bound to change the status quo of the whole industry. JGroup is proud to be associated with such an innovative endeavor and will raise the necessary capital and go the extra mile to ensure this particular technology penetrates the global market and ultimately is the first company based in Dubai to be a global IPO.”
Mohammed AlMalki, founder and CEO at FoxPush, said: “FoxPush is a fast-growing homegrown company established in Dubai since 2017. 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.
“FoxPush will be the latest investment venture and an addition to the varied businesses across multiple sectors helmed by Lebanon-based JGroup, which is founded and led by serial entrepreneur, Imad Jomaa.