Journify Raises $12M Series A Amid 5x Growth

Journify, an ad signal infrastructure company, has secured $12 million in Series A funding, bringing its valuation to four times its previous level. The round was led by Al Mada Ventures, co-led by Silicon Badia, with additional investments from Shorooq, Bunat Ventures, Du Ventures and Oraseya Capital. The capital injection will enable Journify to expand into the US and Europe, and enhance its AI capabilities.

The global ad spend is projected to surpass $1 trillion by 2026, with algorithms expected to account for three quarters of ad spend by 2028, according to dentsu. Ad platforms like Google, Meta, TikTok, Snap and Amazon Ads rely on Journify to ensure they receive accurate data on purchases, sign-ups and store sales made by customers. Over 100 businesses, including fast-growing e-commerce brands and major retailers, utilize Journify, generating hundreds of millions in annual ad spend.

Notable customers include Jarir Bookstore, which saw its return on ad spend on Meta increase by 182%, and Saudi ecommerce brand Baytonia, which grew its return on ad spend on TikTok by 80% while reducing cost per purchase by 44%. Taoufik El Jamali, Co-Founder and CEO of Journify, emphasized the importance of AI in advertising, stating that the intelligence behind it is only as good as the signals it receives.

"Our vision is to close that gap, turning real customer outcomes into intelligence ad platforms can learn from," he said.

Omar Laalej, Managing Director at Al Mada Ventures, highlighted the company's privacy-first approach and the potential for growth, stating, "As AI takes on a greater role in marketing, we believe the connection between reliable customer data and the decisions built on it will become increasingly valuable." Hossam Shafick, Partner at Silicon Badia, echoed these sentiments, noting the company's 4x valuation growth and 5x revenue growth since its initial investment.

Journify's AI capabilities, which continuously monitor connections, detect signal-quality issues and fix them, will be further developed with the new funding as the company expands beyond the GCC.