The startup will use the investment to expand to Saudi Arabia and launch more advertisement screens in the MENA.
Cairo-based advertisement platform, Adzily, scores $12.2 million in funds from Saudi Arabia’s Tharawat Holding Company. The startup aims to pump most of the investment into expanding their network of outdoor advertisement screens to Saudi Arabia. The startup’s first external investment round is one of the largest-ever for an Egyptian startup, according to MENAbytes.
Established in 2018 by Ahmed Ashoor, Mostafa Hendawy, Mostafa Kamshish and Mohamed Ossman, Adzily provides out-of-home digital advertising which enables brands to reach audiences in places that have a high footfall. As a way to combat the regression of traditional advertisement models in light of more and more brands leaning towards internet ads, the startup merges digital and offline advertisement methods and enable brands to target their respective audiences effectively.
“Adzily is something like Google Ads, but instead of publishing the ads on websites, we publish them on screens located in different areas in Egypt and the rest of MENA," co-founder and CEO, Ahmed Ashoor, says. "So, the brands don’t only reach the audience they want to target, but also get some very useful insights."
The startup offers a variety of options that brands can leverage to target their consumers, such as a call-to-action QR form, as well as location and franchise targeted to specific markets to allow advertisers to successfully implement marketing strategies with ease. Adzily currently has around 200 screens installed in different locations in Egypt with a large network of branches and plans to exponentially grow and install more screens in Cairo and other parts of Egypt within the three months, with the aim of reaching a total of 5,000 screens by 2020. Using this investment, the startup also plans to install 5,000 screens in different areas of Saudi Arabia and another 5,000 in 2021.
In this expansion, Adzily counts Apple, LG and the Egyptian Government among their clients, but remain selective with their advertisers at this early stage of their progress, despite receiving requests from businesses on a daily basis.
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