Journify raises $12 million Series A led by Al Mada Ventures

Journify, a Moroccan and San Francisco-based company specialising in 'ad signal infrastructure', has raised $12 million in a Series A round, according to Launch Base Africa. The round, led by Al Mada Ventures and co-led by Silicon Badia, marks a fourfold increase in the company's valuation. Journify plans to leverage this funding to expand its operations into the US and Europe, enhancing the artificial intelligence capabilities behind its platform.

The investment underscores a growing interest in the technical backbone of digital advertising, as privacy regulations and browser restrictions have diminished the effectiveness of traditional ad targeting methods. Journify acts as an intermediary between brands' internal systems and major ad platforms, ensuring that these platforms receive accurate and enriched conversion data. This approach has already proven successful, with clients like Jarir Bookstore and Baytonia reporting significant improvements in their return on ad spend.

The funding round also included participation from existing investors Shorooq Partners, Bunat Ventures, and new investors Du Ventures and Oraseya Capital. Journify's co-founder and CEO, Taoufik El Jamali, emphasised the importance of reliable data in AI-driven advertising, stating that businesses possess valuable customer insights that need to be effectively communicated to ad platforms.